- 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, dam or
levee failure, etc.
return to top
-
- Flood
damage is not covered by homeowners policies.
- You
can protect your home, business, and belongings with flood
insurance from the
National
Flood Insurance Program. You can insure your home
with flood insurance for up to $250,000 for the building and
$100,000 for your contents.
return to top
-
- You can buy
flood insurance no matter what your flood risk is.
- It doesn't matter whether
your flood risk is high, medium, or low, you can buy flood
insurance as long as your community participates in the
National
Flood Insurance Program. And, it's a good idea to
buy even in low or moderate risk areas: almost 25 percent of
all flood insurance claims come from low- to moderate-risk
areas.
-
return
to top
There is a low-cost policy for homes in low- to
moderate-risk areas.
- 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.
return to top
- Flood
insurance is affordable.
- The average flood insurance
policy costs a little more than $300 a year for about
$100,000 of coverage. In comparison, a disaster home
loan can cost you more than $300 a month for $50,000 over 20
years.
-
return
to top
Flood insurance is easy to get.
- You can buy NFIP flood
insurance from private insurance companies and agents; call
yours today! You may be able to purchase flood insurance
with a credit card.
-
return
to top
Contents coverage is separate, so renters can insure their
belongings too.
- Up to $100,000 contents
coverage is available for homeowners and renters. Whether
you rent or own your home or business, make sure to ask your
insurance agent about contents coverage. It is not
automatically included with the building coverage.
-
return
to top
Up to a total of $1 million of flood insurance coverage is
available for non-residential buildings and contents.
- Up to $500,000 of coverage
is available for non-residential buildings. Up to
$500,000 of coverage is available for the contents of
non-residential buildings.
-
return
to top
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.
-
return
to top
Federal disaster assistance is not the answer.
- Federal disaster assistance
is only available if the President declares a disaster. More
than 90 percent of all disasters in the United States are
not declared by the President. Flood insurance pays even if
a disaster is not declared.
return
to top
|
