If your home is located within a FEMA-designated floodplain, you are required to carry mandatory flood insurance if you have a federally-backed mortgage. Flood insurance premiums vary, depending upon the flood zone where a property may be located or the elevation of the building.
Even if you are not located within a FEMA floodplain, but are near one, flood insurance is recommended. You might qualify for a low-cost Preferred Risk Policy. Always check with your mortgage lender. Renters should consider flood insurance for their contents.
If you believe that your home is incorrectly shown within a floodplain, you may obtain an Elevation Certificate and not be required to pay flood insurance. See Floodplain Maps.
More information regarding flood insurance can be found at the Floodsmart website.
Myths and facts about flood insurance
- Some myths about flood insurance:
- You can’t buy flood insurance if you live in a high-flood-risk area.
- You can’t buy flood insurance immediately before or during a flood.
- Homeowners’ insurance policies cover flooding.
- Read all the facts about flood insurance
Before and After a Flood
Flooding is the most common and costly natural disaster. After a flood, the process of recovery might seem daunting. With flood insurance, you have the peace of mind that comes with knowing you can and will get back to your daily routine.