What Does Flood Insurance Cover?
Two types of flood insurance are available through the National Flood Insurance Program (NFIP):
Flood insurance will not cover damage that is not the direct result of flooding. For example, damage from sewage backup is not covered unless flooding directly causes the backup.
When Can You Buy Flood Insurance?
You can purchase federal flood insurance if your community participates in the NFIP. For properties located within the areas with the most significant risk of flooding, known as Special Flood Hazard Areas (SFHAs), under the National Flood Insurance Act, lenders must require borrowers to buy flood insurance to receive federally-backed loans. You can purchase flood insurance at any time. After you have paid the premium, there is a 30-day waiting period before the policy goes into effect, except when:
If you purchase flood insurance when you buy your home, there is no waiting period before coverage goes into effect.
What Type of Flooding Does NFIP Cover?
When the surface of normally dry land is partially inundated, and two or more adjacent properties or two or more acres are affected, it is considered flooding covered by NFIP. This can be caused by:
Flood insurance is not only for people who live in flood zones. Our friendly agent can help you obtain a policy to protect your home from flooding.