What is Flood Insurance?
Flood insurance is the specific insurance coverage against property loss from flooding. To determine risk factors for specific properties, insurers will often refer to topographical maps that denote lowlands, floodplains and floodways that are susceptible to flooding.
More About Flood Insurance
Nationwide, only 20% of American homes at risk for floods are actually covered by flood insurance. Most private insurers do not insure against the peril of flood due to the prevalence of adverse selection, which is the purchase of insurance by persons most affected by the specific peril of flood.
Flooding is defined by the National Flood Insurance Program as a general and temporary condition of partial or complete inundation of two or more acres of normally dry land area or two or more properties (at least one of which is your property) from: Overflow of inland waters, unusual and rapid accumulation or runoff of surface waters from any source, and mudflows
This can be brought on by landslides, a hurricane, earthquakes, or other natural disasters that influence flooding, but while a homeowner may, for example, have earthquake coverage, that coverage may not cover floods as a result of earthquakes.
Contact us to learn more about the right amount of flood coverage for your home and how to save 20% to 50% on that coverage. We offer better coverage options, more coverage and for less cost than the NFIP flood insurance program.
PO Box 478
Galloway, OH 43119
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National Flood Insurance Program
Click the button below to review the National Flood Insurance Program’s summary of Flood Coverage and that this is the policy that is available through FEMA and the National Flood Insurance Program. Our coverage is better than what is offered by the NFIP and we can typically save you up to 50% off of the NFIP’s premiums. Contact me to see if we can help you save money on your flood insurance.