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Basic flood information : |
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Everyone lives 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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Flood damage is not covered by homeowners policies. |
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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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You can buy flood insurance no matter what your flood risk is. |
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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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There is 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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Flood insurance is affordable. |
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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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Contents coverage is separate, so renters can get flood insurance. |
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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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Up to a total of $1 million of 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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There is usually a 30-day waiting period before the coverage goes into effect. |
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Plan ahead so you're not caught without flood insurance when a flood threatens your home or business. |
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Federal disaster assistance is not the answer. |
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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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