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Frequently Asked Questions

How to determine your need for flood insurance?

Here are insights you can use to determine if you need flood insurance and how to secure it in time for the winter thaw. Assessing your flood risk. According to the National Flood Insurance Program (NFIP), anywhere it rains has the potential to experience flooding. Flooding can be started by a variety of weather conditions, including hurricanes, outdated drainage systems, severe rainfalls or spring snowmelt.

How much flood insurance do I Need?

There is, however, a difference between how much flood insurance is required and how much you should buy. The limits of residential flood insurance for a home is usually between $8,000 to $100,000 for contents coverage and $20,000 to $250,000 maximum for dwelling coverage. Basements are often a high risk for both home and flood insurance.

Is it required by law to have flood insurance?

If the property is not in a high-risk area, but instead in a moderate-to-low risk area, federal law does not require flood insurance; however, a lender can still require it. It is recommended since historically about one-in-four flood claims come from these moderate-to-low risk areas.

What do you need to know about flood insurance?

What you need to know. Most flood insurance policies just cover the dwelling, in case the home is swept away in a flood. You can purchase flood insurance for the contents of the main floor, but that will add to your premium. Flood insurance will cover certain major appliances like furnaces, air conditioners, freezers,...

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