Flooding is a natural disaster that can cause extensive damage to property and belongings. In fact, just one inch of floodwater can cause an average of $25,000 in damage. Unfortunately, most homeowners and renters insurance policies do not cover flood damage. Flood insurance protects your property from flood damage. It can cover both the structure of your home and your personal belongings. Flood insurance is available through the National Flood Insurance Program (NFIP), which is managed by the Federal Emergency Management Agency (FEMA).
Here are some of the benefits of having flood insurance:
- Help you recover financially from a flood.
- Give you peace of mind knowing that your property is protected.
- It may be required by your mortgage lender if your property is located in a high-risk flood zone.
How to get flood insurance
You can purchase flood insurance through an insurance agent or company that participates in the NFIP. You can also purchase flood insurance online at the NFIP’s website.
To get flood insurance, you will need to provide your insurance agent with some information about your property, including:
- Your property address
- The type of dwelling you have (single-family home, condo, apartment, etc.)
- The year your property was built
- The elevation of your property
Your insurance agent will then use this information to determine your flood insurance premium.
Here are some additional resources for more information about flood insurance:
- The NFIP’s website: https://www.floodsmart.gov/
- FEMA’s website: https://www.fema.gov/flood-insurance
- The Insurance Information Institute’s website: https://www.fema.gov/fact-sheet/flood-insurance-and-nfip
Protecting yourself from flood damage
In addition to getting flood insurance, there are a number of things you can do to protect your property from flood damage, including:
- Elevating your home or property
- Installing flood-resistant materials in your home
- Creating a flood emergency plan
By taking these steps, you can help to reduce your risk of flood damage and minimize the impact of a flood on your property and belongings.