Did you know your Homeowner's Insurance DOES NOT cover damage caused by Flood?
Yes, you read correctly!
Why Buy Flood InsuranceNo home is completely safe from potential flooding. Flood insurance can be the difference between recovering and being financially devastated. Just one inch of water in a home can cost more than $25,000 in damage—why risk it?
Do You Need Flood Insurance?Here are some important facts to keep in mind:
Why Should I Renew My Policy?Just because you haven’t experienced a flood doesn’t mean you never will.
Continuous coverage gives you uninterrupted protection.Floods can happen anytime, anywhere — to anyone.
An afternoon storm or backed-up storm drains could bring inches of water into your home and cause thousands of dollars in damage to walls, floors and furniture.
Having a policy in force could save you money.Flood risk often has a lot to do with how much you pay for your flood insurance policy. Most policyholders living in areas where the flood risk has increased and where FEMA has issued a new Flood Insurance Rate Map may renew at a rate based on their previous flood zone. This Newly Mapped Procedure allows policyholders to continue paying a lower price for their flood insurance policy based on the prior flood map for one additional year after the new flood map is issued. After the first year, policyholders will see rate increases not to exceed 18 percent per year. They are “grandfathered” in at the lower zone designation. For more information about map changes and grandfathered rates, review the fact sheet Map Changes and Flood Insurance: What Property Owners Need to Know.
Letting your policy lapse could cost you money.Keep in mind, if you ever allow your flood insurance policy to lapse once for either more than 90 days, or twice for any number of days, you may be required to provide an Elevation Certificate (EC), and you may no longer be eligible for any discounted rate you were previously paying. In recent years, legislation has changed, and grandfathered rates are slowly increasing; a policy lapse could force the discounted rate to increase instantly to the full-risk rate.
Protect your investment — your bank expects you to.If you live in a high-risk area and have a loan from a federally-regulated or insured lender, you are required to renew your flood insurance. When you purchase a home, you accept liability for any damage—from fire, wind, hail, theft or flooding—that may occur while you live there.
Are some people required to have flood insurance?
You may be required to have flood insurance.
To find your community’s flood map, visit the FEMA Flood Map Service Center, then type in your address and search. You may view, print and download flood maps, open an interactive flood map (if available), and view all products related to your community.
Find out if your community has a recent or upcoming flood map change. When your community’s flood map is updated to reflect the current risks where you live, requirements for flood insurance coverage and the costs of your policy can also change.
Get answers to your flood mapping questions online or by talking with someone from FEMA’s Flood Map Service Center.
What’s Covered?Talk to your licensed insurance agent about what is and isn’t covered by your policy. Know what is and is not covered. Contents are not covered by a building/structure flood policy. To cover your belongings or contents within a building, you'll need to add contents coverage to your existing building/structure policy.
Examples of Building Coverage
This document was prepared by the NFIP to help you understand your flood insurance policy. It provides general information about deductibles, what is and is not covered by flood insurance and how items are valued at the time of loss.
What should I know about deductibles?As with other insurance plans, a higher deductible will lower the premium you pay but will also reduce your claim payment, meaning you will need to cover the difference out of your own pocket. Sometimes a mortgage lender will set a maximum amount for your deductible.
Is there a 30-day waiting period?Typically, there’s a 30-day waiting period from date of purchase until your policy goes into effect. Here are the exceptions:
What is an elevation certificate and why might I need one?Your insurance agent may ask you for an Elevation Certificate (EC). This certificate verifies your building’s elevation compared to the estimated height floodwaters will reach in a major flood in a high-risk flood area.
It’s also beneficial to ask if your community participates in the Community Rating System (CRS), because this could mean local officials already have a copy of your EC on file. Policyholders with insured properties in communities that participate in CRS may be eligible for policy discounts.
A property owner in a high-risk flood area always has the right to purchase an EC, which may reduce your flood insurance premium. Please contact a licensed insurance agent for further information.
Are you ready to get your Flood Insurance Quote?