Flood Insurance

Flood insurance helps property owners financially protect buildings and contents from flood damage. Most homeowners insurance policies do not cover flooding, so flood insurance is usually purchased as a separate policy.

Flooding can happen outside mapped high-risk flood areas. Even if flood insurance is not required by a lender, property owners may still choose to purchase coverage to help reduce financial risk.

Why Flood Insurance Matters

Flood damage can be expensive, and recovery assistance is not always available after a flood. When federal disaster assistance is available, it may come in the form of a loan that must be repaid.

Flood insurance can help property owners recover more quickly by providing coverage for eligible flood damage to buildings, contents, or both.

Who Should Consider Flood Insurance

Property owners, renters, and businesses may want to consider flood insurance, even if they are not located in a mapped high-risk flood area.

Flood insurance may be especially important if:

·      Your property is located in or near a floodplain.

·      Your lender requires flood insurance.

·      Your area has experienced flooding in the past.

·      Your property is near a creek, river, stream, drainage area, or low-lying area.

·      You want financial protection from future flood damage.

Flood Insurance and Flood Maps

Flood maps help identify areas that may be at higher risk of flooding. If a building is located in a Special Flood Hazard Area and has a federally backed mortgage, flood insurance is typically required by the lender.

Flood maps are also used by local officials, lenders, insurance agents, and property owners to understand flood risk and determine what requirements may apply to a property.

How to Buy Flood Insurance

Flood insurance is available through the National Flood Insurance Program and some private insurance companies. Property owners, renters, and business owners should contact an insurance agent to discuss coverage options, policy limits, waiting periods, and costs.

If you are unsure where to start, ask your current insurance agent whether they sell flood insurance or can connect you with an agent who does.

What Flood Insurance May Cover

Flood insurance coverage depends on the type of policy purchased. Policies may cover buildings, contents, or both.

Building coverage may help cover eligible damage to the structure and certain building systems. Contents coverage may help cover eligible personal property inside the building.

An insurance agent can explain what is covered, what is not covered, and what policy limits may apply.

Elevation Certificates

An Elevation Certificate documents building elevation information. In some cases, an Elevation Certificate may help an insurance agent rate a flood insurance policy or determine how a building relates to flood hazard information shown on the flood map.

Not every property will need an Elevation Certificate for insurance purposes. Contact your insurance agent or local floodplain administrator if you are unsure whether one is needed.