It doesn't matter if you live in a flood plain, every property owner is susceptible to flood damage and your current insurance probably doesn't cover it. Let us give you a quote today!
What is Flood Insurance?
Flood insurance is the specific insurance coverage against property loss from flooding. Most Flood Insurance is provided through various "Write Your Own" insurance companies under the National Flood Insurance Program (NFIP), which is backed by FEMA. Though there are a few private programs not affiliated with FEMA offering coverage, recent changes and cost increases in the NFIP could entice more private programs to develop.
To determine risk factors for specific properties, the NFIP will often refer to topographical maps that denote lowlands, floodplains and floodways that are susceptible to flooding.
More About Flood Insurance
Nationwide, only 20% of American homes at risk for floods are actually covered by flood insurance. Most private insurers do not insure against the peril of flood due to the prevalence of adverse selection, which is the purchase of insurance by persons most affected by the specific peril of flood.
Flooding is defined by the National Flood Insurance Program as a general and temporary condition of partial or complete inundation of two or more acres of normally dry land area or two or more properties (at least one of which is your property) from: This can be brought on by landslides, a hurricane, earthquakes, or other natural disasters that influence flooding, but while a homeowner may, for example, have earthquake coverage, that coverage may not cover floods as a result of earthquakes.
Contact us to learn more about the right amount of flood coverage for your home.
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