PERSONAL

Flood Insurance


According to the National Flood Insurance Program (NFIP) the average homeowner is five times more likely to incur flood damage than fire damage—with 25% of all claims coming from low to moderate risk areas.  If you have a standard homeowners policy, it's unlikely you have coverage for damages after a flood.  Here are a few things to know about flooding, from floodsmart.gov.

Flooded street with water covering cars and sidewalk, houses nearby, green trees, and mountains in the background under cloudy sky.
    • Anywhere it can rain, it can flood.

    • You don't need to live near a coastline or river to have a flood.

    • Winter storms and snowmelt are common, overlooked, causes of flooding.

  • NFIP policies typically take 30 days to go into effect, so it's important to act before there's an imminent threat of flooding.

  • People outside of high-risk areas file more than 20 percent of NFIP claims and receive one-third of disaster assistance for flooding.

  • To qualify, the property must be located in the moderate-to-low risk zone and meet loss history requirements.

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