Despite threat, few have flood insurance - FOX5 Vegas - KVVU

Despite threat, few have flood insurance

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A section of Brent Lane in northeast Las Vegas is flooded in this file image. (File/FOX5) A section of Brent Lane in northeast Las Vegas is flooded in this file image. (File/FOX5)

The monsoon season is underway, and if you've been mulling purchasing flood insurance, the time is now.

If your home is located within a 100-year flood zone, you have a 26 percent chance of experiencing flooding in a 30-year period.

Ruby Franks has lived in a house off Sahara Avenue in the Sunrise Manor area of east Las Vegas for 26 years.

Two years ago, flooding led to a helicopter rescue just down the street from Franks' home. Though her home has never flooded, Franks has had to purchase flood insurance for the past three years because her mortgage is owned by Navy Federal Credit Union.

She said her $600 annual premium is about to go up.

"I don't want to pay it. I would not have flood insurance if I did not have to have it," Franks said.

Kacey Thomas, who owns American National Insurance Co. in Henderson, said flood insurance is a federal government program not covered by your homeowner's policy.

"Usually people want it when it's too late," she said.

There is typically a 30-day waiting period before a flood insurance policy goes into effect. Thomas said her customers don't ask much about policies when it's dry, but that can turn on a dime.

"You get more inundated when there's a big story or you hear of a flash flood out at Lake Mead or out at Lake Las Vegas," Thomas said.

Thomas said flood insurance is her most undersold policy, with only about 10 percent of her 3,5000 customers choosing to purchase it.

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