Leah Kelvin
Active member
Flood insurance is a type of insurance policy that protects homeowners from being damaged by floods due to various origins like rivers, rain, storms and snowmelt. This coverage also covers structures and contents including personal belongings. It’s usually not part of the homeowner’s policies but is offered by NFIP. The limits for the NFIP plans are $250,000 for structure and $100,000 for contents. There are exceptions which include damages other than those caused by flooding only. Premiums depend on location, elevation, flood hazards and what you want to protect. Zones with higher risks may carry more expensive premiums.
If you live in a federally regulated mortgage high-risk flood zone, you could be required to purchase flood insurance. Coverage may take up to 30 days before it can commence without notice so make arrangements accordingly. Risk assessment through FEMA’s flood maps helps determine if one needs this cover or not. After the occurrence of floods leading to destruction submit detailed claims forms for compensation purposes too. Fully grasping the basics of flood insurance will go a long way in protecting your property. Speak with an agent or representative from FEMA about buying this kind of coverage in the future
If you live in a federally regulated mortgage high-risk flood zone, you could be required to purchase flood insurance. Coverage may take up to 30 days before it can commence without notice so make arrangements accordingly. Risk assessment through FEMA’s flood maps helps determine if one needs this cover or not. After the occurrence of floods leading to destruction submit detailed claims forms for compensation purposes too. Fully grasping the basics of flood insurance will go a long way in protecting your property. Speak with an agent or representative from FEMA about buying this kind of coverage in the future
