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| Flood FAQs |
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Does everyone live in a flood zone? |
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You don't need to live near water to be flooded. Floods are caused by storms, melting snow, hurricanes, and water backup due to inadequate or overloaded drainage systems. |
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Does my homeowners policy cover flood damage? |
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Flood damage is not covered by homeowners policies. You can protect your home, business and belongings with flood insurance -- up to $250,000 for the building and $100,000 for contents. |
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Can anyone buy flood insurance? |
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You can buy flood insurance as long as your community participates in the National Flood Insurance Program. Flood insurance is a good buy even in low or moderate risk areas. Almost 25 percent of all flood insurance claims come from low to moderate risk areas. |
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Is there a low-cost policy for homes in low to moderate risk areas? |
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The Preferred Risk Policy is available for just over $100 a year. You can buy up to $250,000 of coverage for your home and $60,000 of coverage for your contents. |
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How affordable is flood insurance? |
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The average flood insurance policy costs about $300 a year for $100,000 of coverage. In comparison, a disaster home loan for $50,000 can cost you more than $300 a month over 20 years. |
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Is coverage available for renters? |
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Up to $100,000 contents coverage is available for homeowners and renters. Contents are not automatically included with the building coverage. |
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How much flood insurance coverage is available for non-residential buildings and contents? |
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Up to $500,000 of coverage is available for non-residential buildings and up to $500,000 of coverage for their contents. |
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Is there a waiting period to buy coverage? |
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There is usually a 30-day waiting period before the coverage goes into effect. Plan ahead so you're not caught without flood insurance when a flood threatens your home or business. |
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Why should I buy flood insurance when I can get Federal disaster assistance? |
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Federal disaster assistance is only available if the President declares a disaster. Nine out of 10 disasters in the United States are not declared by the President. Flood insurance pays even if a disaster is not declared. |
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