About Flood Insurance

The National Flood Insurance Program (NFIP) is managed by the FEMA and is delivered to the public by a network of more than 50 insurance companies and the NFIP Direct.

Floods can happen anywhere — just one inch of floodwater can cause up to $25,000 in damage. Most homeowners insurance does not cover flood damage. Flood insurance is a separate policy that can cover buildings, the contents in a building, or both, so it is important to protect your most important financial assets — your home, your business, your possessions.

The NFIP provides flood insurance to property owners, renters and businesses, and having this coverage helps them recover faster when floodwaters recede. The NFIP works with communities required to adopt and enforce floodplain management regulations that help mitigate flooding effects.

Flood insurance is available to anyone living in one of the 23,000 participating NFIP communities. Homes and businesses in high-risk flood areas with mortgages from government-backed lenders are required to have flood insurance.

The regular property insurance policies of Hazard and Wind do not cover Flood Insurance. even if the flooding is caused by a hurricane, your wind policy may not cover damages due to flooding. For people living outside of the high risk flood areas it is also recommended to have flood insurance.   It has been shown that about 405 of the claims for damages due to floods are filed by people living outside the high risk flood areas.

It is always recommended for real estate investors and homeowners to have hazard, wind, flood and liability insurance coverage. You should consult with your insurance agent if all your coverages for all your property are adequate and you are neither underinsured or overinsured and that you are well covered in all perils. Coverage, and premiums, will vary by property type and risk assessments.

To purchase flood insurance, call your insurance company or insurance agent, the same person who sells your home or auto insurance. If you need help finding a provider go to FloodSmart.gov/flood-insurance-provider or call the NFIP at 877-336-2627.

Plan ahead as there is typically a 30-day waiting period for an NFIP policy to go into effect, unless the coverage is mandated it is purchased as required by a federally backed lender or is related to a community flood map change.