Flood Insurance provides protection for damage to property due to water damage. Even a few inches of water can result in thousands of dollars in damage. Flood coverage protects against losses that result from heavy rain, overflow of waterways, blocked storm drains, snow melts, and other flood exposures.
Flood damage is not covered under homeowners insurance policies.
The type of flood insurance policy available to you depends on your home’s location:
- Standard Flood Insurance Policies
If you live in a community that participates in the NFIP, your building and its contents can be covered by a standard flood insurance policy. The National Flood Insurance Program (NFIP) was established by the Federal Government to help communities who “voluntarily participate in the NIFP by adopting and enforcing floodplain management ordinances to reduce future flood damage.” To be considered a flood, the waters must cover at least two acres or affect at least two properties. You must apply for building coverage and contents coverage separately if you choose to invest in a standard flood insurance policy.
- Preferred Risk Flood Insurance Policies
If your home or business is in a low or moderate risk zone, your property may qualify for a low-cost preferred risk policy. While you aren't required to purchase flood insurance in low-to-moderate risk areas, a preferred risk policy will protect your home and its contents if you are affected by a small flood or a larger flood that has extended into your low-risk area. Note that many flood insurance claims occur in low-to-moderate risk areas.
We can assist you in determining which type of flood policy is appropriate for your home or business.
