Flood Insurance FAQ

Flood insurance protects your home, business, or belongings from damage caused by rising water - whether from heavy rain, overflowing rivers, coastal storms, or snowmelt. Standard homeowners and renters insurance does not cover flood damage, so a separate policy is necessary if you want full protection.

If your property is in a high-risk flood zone and you have a mortgage from a federally regulated lender, flood insurance is required by law. Even if you're not in a high-risk area, floods can happen anywhere - and many claims occur in low-to-moderate risk zones.

Flood insurance typically covers:

• Structural damage to your building (foundation, walls, electrical, HVAC, etc.)
• Personal property like furniture, electronics, and clothing
• Cleanup and debris removal

However, there are coverage limits and exclusions - for example, most policies do not cover landscaping, temporary housing, or vehicles.

Flood insurance usually does not cover:

• Temporary housing or loss of income
• Mold or mildew not directly caused by the flood
• Pools, decks, patios, fences, or landscaping
• Cars or vehicles (these may be covered under auto insurance if you have comprehensive coverage)

FEMA maintains flood maps that designate flood zones. Your insurance broker can help you identify your property's flood risk zone and explain whether your lender will require coverage.

Costs vary based on your location, elevation, property type, coverage amount, and whether you're in a high-risk flood zone. Premiums can range from a few hundred to several thousand dollars per year. Your insurance broker can help compare FEMA's National Flood Insurance Program (NFIP) with private flood insurance options, which may offer better rates and broader coverage if your property qualifies.

FEMA's NFIP policies have standardized limits and coverage rules. Private flood insurance companies may offer higher limits, more flexible coverages, shorter waiting periods, and competitive pricing - especially if your home or business meets certain qualifications. Not all properties are eligible for private flood policies, but many are.

Yes. Most FEMA flood policies have a 30-day waiting period from the date of purchase before coverage begins. Some private insurers offer shorter waiting periods, which can be helpful if you're securing coverage quickly before storm season.

Yes - renters can purchase a flood policy that covers their personal belongings. The building itself would be covered by the landlord's or property owner's flood policy (if they have one).

Document all damage with photos or video, keep receipts for emergency expenses, and contact your insurance broker or provider as soon as possible. Do not discard damaged property until it's been inspected. Prompt reporting and thorough documentation help ensure a smoother claims process.