Flood Insurance

Do you live in a flood zone? The answer is yes. Everyone does and you don't need to live by water. Floods are caused by storms, melting snow, hurricanes and water backup due to inadequate or overloaded drainage systems.

How can you protect your home or business?

Many people think homeowners insurance covers flood damage. It does not. But you can protect your home, business and belongings with flood insurance — up to $250,000 for the building and $100,000 for its contents. You can buy flood insurance no matter what your flood risk is. And you can buy it as long as your community participates in the National Flood Insurance Program.

Flood insurance is a good buy even in low- or moderate-risk areas. Almost 25 percent of all flood insurance claims come from these areas. Call us to find out more about low-cost flood insurance for homes in low- to moderate-risk areas.

Preferred risk policy

This policy is available for just over $100 a year. You can buy up to $250,000 of coverage for your home and $60,000 of coverage for your contents. Flood insurance is affordable. The average flood insurance policy costs about $300 a year for $100,000 of coverage. In comparison, a disaster home loan for $50,000 can cost you more than $300 a month over 20 years.

Contents coverage

Contents coverage is separate, so renters can get flood insurance. Up to $100,000 in contents coverage is available for home owners and renters. Contents are not automatically included with the building coverage. Up to a total of $1 million of flood insurance coverage is available for non-residential buildings and contents. Up to $500,000 of coverage is available for non-residential buildings and up to $500,000 of coverage for their contents.

There is usually a 30-day waiting period before the coverage goes into effect. Plan ahead so you’re not caught without flood insurance when a flood threatens your home or business.

Is federal disaster assistance available?

This is a common question. Federal disaster assistance is only available if the President declares a disaster. Nine out of 10 disasters in the United States are not declared by the President. Flood insurance pays even if a disaster is not declared.