Flood Insurance Basics & The NFIP

No home or business is completely safe from potential flooding. Flood insurance can be the difference between recovering and being financially devastated. Whether you’re in an area that has a low or high risk of flooding, you should buy flood insurance if you own or rent property. The National Flood Insurance Program (NFIP) defines flooding…

2020 Flood Facts & NFIP Updates

Flood News The National Flood Insurance Program has been authorized through Sept. 30, 2020. At that time, we expect another short-term extension. As of April 1, 2020, the National Flood Insurance Program will have the following changes: Rate increases on average of 9.9% The Reserve Fund Assessment will increase from 15% to 18% per policy…

Understanding the Difference Between Flood Damage and Water Damage

Homeowners policies do not cover all types of water damage. While the terms of your policy will determine what types of water damage are covered and the amount of coverage available, typically homeowners policies do not cover flooding. The Standard Flood Insurance Policy, available for purchase from the National Flood Insurance Program (NFIP), defines “flood”…

Flood Insurance Facts

Flood Facts Property owners and renters should buy flood insurance even if you aren’t in a high-risk area. Your chances of being flooded are much greater than some other risks you face daily. If you live in a 100-year floodplain, there’s more than a 1 in 4 chance that you’ll be flooded during a 30-year…