Do I need flood insurance for my home?

Do I need flood insurance for my home?

Don’t risk being underwater—understand how flood insurance works


Your standard homeowners policy doesn’t provide flood coverage

It’s important to note that, as a rule, homeowners and renters insurance does not cover damage from flooding. To protect your home, be sure to understand the risk of flooding and what your insurance options are.

Do you need flood insurance?

You will need flood insurance if you live in a designated flood zone. But flooding can also occur in inland areas and away from major rivers. Consider buying a flood insurance policy if your house could be flooded by melting snow, an overflowing creek or pond, or water running down a steep hill.

Flood insurance is available for renters as well as homeowners, but a special policy is required as flood insurance—like earthquake insurance—is not part of standard homeowners coverage. Flood policies are provided by the federal government and some private insurers.

If you think you need flood insurance, don’t wait for a flood season warning on the evening news to buy a policy—there is a 30-day waiting period before the coverage takes effect.

Where do I get flood insurance?

The federal government provides flood insurance through the National Flood Insurance Program (NFIP), run by the Federal Emergency Management Agency (FEMA). While they are underwritten by the government, NFIP policies are generally sold through private insurance agents. In some areas, primary flood insurance may be available through private insurers.

About the National Flood Insurance Program (NFIP)

The National Flood Insurance Program provides coverage for up to $250,000 for the structure of the home and $100,000 for personal possessions.

The NFIP provides replacement cost coverage for the structure of your home. This means, the policy will cover […]

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Continue to read this Insurance Information Institute article.

 

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Ocilla, GA 31774
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