As standard homeowner’s insurance does not cover flooding, the National Flood Insurance Program (NFIP) offers coverage to protect residents from floods associated with hurricanes, ruptured dams, mudflow, snow melts and other such conditions. Administered by the Federal Emergency Management Agency (FEMA), this program was created by the U.S. Congress in 1968 to assist residents with flood damages to their home, as well as furniture, clothing and other household goods.
NFIP policies are available to homeowners, renters, condo owners/renters and commercial owners/renters. Costs vary depending on how much insurance is purchased, what it covers and the property's flood risk. Policies can be purchased through participating property and casualty insurance agents. Rates are set and do not differ from company to company or agent to agent. These rates depend on many factors, however, which include the date and type of construction of your home, along with your building’s level of risk.
Homeowners and renters who live in moderate or low-risk areas are also advised to get flood insurance as approximately 25 percent of all flood insurance claims come from these areas. Because of the moderate-to-low flood risk, NFIP’s Preferred Risk Policy (a lower-cost flood insurance policy) may be available.
Flood insurance is available for businesses as well. Policies provided coverage for high-risk or moderate-to-low-risk areas with the option to purchase coverage for both the building and its contents or just the contents.
Get Floodsmart and review your options for insurance today.
For more information on the Florida Division of Emergency Management and to GET A
PLAN!, please visit: www.FloridaDisaster.org.