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Robert Bailey
Robert Bailey

Do I Have To Buy Flood Insurance

The NFIP provides flood insurance to property owners, renters and businesses, and having this coverage helps them recover faster when floodwaters recede. The NFIP works with communities required to adopt and enforce floodplain management regulations that help mitigate flooding effects.

do i have to buy flood insurance


Flood insurance is available to anyone living in one of the 23,000 participating NFIP communities. Homes and businesses in high-risk flood areas with mortgages from government-backed lenders are required to have flood insurance.

To purchase flood insurance, call your insurance company or insurance agent, the same person who sells your home or auto insurance. If you need help finding a provider go to or call the NFIP at 877-336-2627.

Plan ahead as there is typically a 30-day waiting period for an NFIP policy to go into effect, unless the coverage is mandated it is purchased as required by a federally backed lender or is related to a community flood map change.

NFIP offers a wide range of publications, videos, graphics and online tools that help policyholders, agents and other servicers navigate the flood insurance process before, during and after disaster. Digital resources can be downloaded, and certain print publications can be ordered for free.

We provide reports on the National Flood Insurance Program's (NFIP) financials and offer guidance on conducting daily operations for existing and new NFIP sellers and servicers. Find information on the Write-Your-Own program, reinsurance, Risk Rating 2.0, plus the Flood Insurance Manual and other tools.

Find resources members of the media can use ahead of flood events. Access the history of the NFIP, facts about the program, information on flooding and flood risk, guidelines for using the logo, and more.

Louisianans are strongly urged to take advantage of the National Flood Insurance Program (NFIP) since even though the hurricane season is coming to an end, the potential for flooding in the state remains. There normally arise many questions about the program. Here is some clarification:

FACT: You can buy federal flood insurance no matter where you live if your community participates in the NFIP, unless your property is in an area covered by the Coastal Barrier Resources Act of 1982. Under the National Flood Insurance Act, lenders must require borrowers whose property is located within a regulatory floodplain to purchase flood insurance as a condition to receive a federally regulated mortgage loan. Flood insurance on homes whose lowest floor is at or above the base flood elevation or located outside the mapped floodplain is less expensive; insurance for homes in the mapped floodplain may cost substantially more.

FACT: Flood insurance is available to protect homes, condominiums, apartments and nonresidential buildings, including commercial structures. A maximum of $250,000 of building coverage is available for single-family residential buildings; $250,000 per unit for multi-family residences. The limit for contents coverage on all residential buildings is $100,000, which is also available to renters. Commercial structures can be insured up to $500,000 for the building and $500,000 for the contents.

FACT: A federal disaster declaration must be declared before a community is eligible for federal disaster assistance. This happens in less than 50% of flooding incidents. The main form of federal assistance after a federally declared disaster is a loan. The average annual premium for an NFIP policy is less than the annual interest on most low-interest disaster loans. If you are uninsured and live in a high-risk flood zone and receive federal disaster assistance after a flood, you must purchase and keep flood insurance to receive certain types of disaster relief for future flood events.

FACT: Most federal flood insurance is sold and serviced directly by Write Your Own (WYO) companies, or private insurance agents. These companies write and service policies on a non-risk-bearing basis through a special arrangement with the Federal Insurance and Mitigation Administration.

FACT: The NFIP defines covered flooding as a general and temporary condition during which the surface of normally dry land is partially or completely inundated. Two adjacent properties or two or more acres must be affected. Flooding can be caused by any one of the following:

Call your insurance agent and get quotes for different levels of flood insurance coverage, so you can get a level of flood insurance you can afford. To find a provider, call 877-336-2627 or visit

Flood insurance is available to homeowners living in areas at risk for floods. It is a standalone insurance policy (separate from your homeowners insurance policy) that provides comprehensive coverage for losses caused by flooding. A flood insurance policy covers any damage related to flooding, regardless of the cause.

Floods can happen anywhere it rains, according to, an official website of the Federal Emergency Management Agency (FEMA) and the National Flood Insurance Program (NFIP). In fact, one inch of flood water can cause as much as $25,000 worth of damage.

If you live in a high-risk flood area, you have a one in four chance of experiencing a flooding event during the course of your 30-year mortgage. Because of this likelihood of damage, your lender will generally require you to purchase a flood insurance policy.

Only you know your tolerance for risk. The good news is that flood insurance is far less costly in areas at low risk for flooding, so you may find that the price is worth the peace of mind that insurance offers. To estimate the losses you could incur from just a few inches of flood water, check out the FloodSmart flood damage calculator.

NFIP is offered through FEMA and is backed by the federal government. NFIP is available for homeowners, business owners and even renters in qualifying communities to purchase and protect themselves from a flood.

Most private flood insurance policies are aimed at providing commercial property coverage or secondary coverage on homes with a replacement cost that exceeds $250,000. As of July 2019, federal law mandates that flood insurance policies must provide coverage that is as broad as the coverage offered by NFIP. Private insurers may offer flood insurance plans outside of the NFIP through its Write Your Own Program.

You may have heard about flood insurance and wondered if you really need it. To help decide whether flood insurance is right for you, it's important to understand a bit about both floods and insurance.

Many conditions can cause flooding: spring thaws, heavy rains, hurricanes and the rapid accumulation of rain after a wildfire are just some of them. And, while certain areas are prone to flooding, it can happen anywhere and at any time.

It's important to know that a standard homeowners insurance policy typically doesn't cover flood damage. And because floods can occur anywhere, you should consider purchasing a separate flood insurance policy. Flood insurance is issued through the National Flood Insurance Program (NFIP), which is managed by FEMA, or may be sold by some private insurers. A local insurance agent can help you purchase flood insurance.

The price of flood insurance is based on a number of factors, including your property's flood risk, what the policy covers and how much coverage you buy. You can purchase separate coverage (generally up to $250,000) for the structure of your home and for your belongings (up to $100,000), according to The types of coverage you purchase and limits you set help determine the price of your policy.

To obtain an NFIP flood insurance policy, your community must participate in the program. Most communities participate, but not every municipality across the country does. You can check whether your community participates in the NFIP Community Status Book (click on your state, and then search through the alphabetical listing of communities to see if yours is on the list).

While flood insurance is offered through the NFIP, policies are sold and administered by private insurance companies. Most policies don't take effect until 30 days after signing, so it's a good idea to consider purchasing coverage before storm season is upon you. Find an agent near you to talk about your flood insurance needs.

Subject to National Flood Insurance Program terms, conditions and availability. The National Flood Insurance Program (NFIP) is managed by the Federal Emergency Management Agency (FEMA), a component of the U.S. Department of Homeland Security (DHS). NFIP flood policies are underwritten by the federal government and sold and administered by private insurance companies like Allstate through the Write Your Own (WYO) Program. 2023 Allstate Insurance Company, Northbrook, IL.

Yet many people flout that requirement, and less than 4 percent of households nationwide have flood coverage through the National Flood Insurance Program, which is run by FEMA and is the main provider of U.S. flood coverage.

The bill includes provisions long sought by the insurance industry to reduce losses, including one aimed at discouraging policyholders from filing lawsuits to challenge settlement offers they find inadequate.

The bill cleared the Republican-controlled Legislature largely along party lines and goes to Gov. Ron DeSantis, a Republican who is expected to sign the measure. The flood-insurance provision drew little opposition or comment during three days of debate and votes.

Another goal, Cotton said, is to avoid conflicts between Citizens and its policyholders over whether storm-related property damage was caused by extreme winds or by flooding. Citizens and other insurers sometimes deny claims after a storm because they say the damage was caused by flooding, which is not covered under their insurance policies. 041b061a72

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