Buying Flood Insurance

he National Flood Insurance Program (NFIP) is your primary source for flood insurance in the U.S. If your community participates in the NFIP, you can purchase flood insurance from a licensed private insurance company or independent property and casualty insurance agent in your state.

Talk to your insurance agent if you have questions, would like additional information, and/or are ready to purchase a flood insurance policy. Your policy will take effect 30 days after your purchase.

If your insurance agent is unfamiliar with the NFIP or is not licensed to sell National Flood Insurance, you have several additional options:

• Find an agent serving your area.
• Find companies that participate in the NFIP and offer flood insurance in your state.
• Contact the NFIP at (888) 379-9531 to request a referral.

What if flood insurance is required? If you buy a house in a designated high-risk area and receive a mortgage loan from a Federally-regulated lender, by law your lender must require you to purchase and regularly renew flood insurance.

In this case, you do not have to wait 30 days for your policy to take effect. Your flood insurance protection is immediate, ensuring that you don't get caught without flood insurance if a flood threatens your home. You may also be able to escrow your premium payments.

30-Day Wait
There is a standard 30-day waiting period, from date of purchase, before a new flood policy goes into effect. However there are some exceptions to the 30-day wait.

• If your lender requires flood insurance in connection with the making, increasing, extending or renewing of your loan.
• If an additional amount of insurance is required as a result of a map revision.
• If flood insurance is required as a result of a lender determining that a loan, which does not have flood insurance coverage, should be protected by flood insurance. The coverage will be effective upon the completion of an application and the presentment of payment of premium.
• If an additional amount of insurance is being obtained in connection with the renewal of a policy.

Buying Insurance
When you are ready to purchase insurance, talk to your agent. He or she will help you determine the flood insurance coverage that will best meet your needs.

Understand Flood Insurance

Flood insurance covers losses to your property caused by flooding. From structural and mechanical damage to flood debris cleanup and floor surfaces (like tile and carpeting), your investment is protected by a flood insurance policy, something that your homeowners policy does not offer.

In addition, you can purchase separate coverage that insures most of your personal property and belongings up to a specified limit, including:

• Clothing
• Furniture, housewares, bedding
• Decorative items, lamps and lighting fixtures
• Books, home electronics, computers
• Area rugs and draperies
• Clothes washers and dryers
• Air conditioners
• Food freezers and the food in them
• Portable microwave ovens

Having flood insurance gives you many benefits. Not only is coverage there when you need it, but it also:

• Compensates for all covered losses
• Compensates for flood damages even if federal disaster aid is unavailable
• Pays for your covered losses, unlike interest-bearing loans through federal disaster assistance
• Comes in low-cost policies for those who qualify
• Guarantees compensation for flood damages because the Federal government backs NFIP flood insurance
• Helps you move on – if your property is damaged by flood, your agent is there to help you handle your claim (note: most claims are paid within 30 to 60 days)

Be FloodSmart! Get covered today.
Remember, there's a 30-day wait before a flood insurance policy takes effect! Be FloodSmart. Get covered today.

Flood Options: Insurance vs Aid

There's something you should know: Flood losses aren't covered by your homeowners insurance policy.

Floodwaters have the power to damage not only your home and sense of security, but also your financial future. How can you protect your most important investment in case of flooding? What are your flood options?

Option 1: Hope that you'll receive Federal disaster assistance if a flood hits.

Many people wrongly believe that the U.S. government will take care of all their financial needs if they suffer damage due to flooding. The truth is that Federal disaster assistance is only available if the President formally declares a disaster. Even if you do get disaster assistance, it's often a loan you have to repay, with interest, in addition to your mortgage loan that you still owe on the damaged property.

Most importantly, you must consider the fact that if your home is flooded and disaster assistance isn't offered, you'll have to shoulder the massive damage costs alone.

The bottom line? If you're looking for secure protection from financial loss due to flood damage, Federal disaster assistance is not the answer.

Option 2: Buy flood insurance and stay protected no matter what.

When disaster strikes, flood insurance policyholder claims are paid even if a disaster is not Federally declared.

Flood insurance means you'll be reimbursed for all your covered losses. And unlike Federal aid, it never has to be repaid.

As long as your community participates in the National Flood Insurance Program (NFIP), you're eligible to purchase flood insurance.

As a homeowner, you can insure your home up to $250,000 and its contents up to $100,000. If you're a renter, you can cover your belongings up to $100,000. As a non-residential property owner, you can insure your building and its contents up to $500,000.

In general, a policy does not take effect until 30 days after you purchase flood insurance. So, if the weather forecast announces a flood alert for your area and you go to purchase coverage, it's already too late. You will not be insured if you buy a policy a few days before a flood.

A flood insurance policy is easy to get, affordable and offers invaluable peace of mind. With flood insurance, you know you're covered … no matter what.

What to do before, during and after Flash Floods

The most common type of all natural hazards is flooding. Being prepared is vital step toward protecting both lives and personal property. The following suggestions will help you develop your own personal emergency plan for floods

Before a flood

• Understand flash flood terms

1. FLASH FLOOD WATCH : Flooding is possible
2. FLASH FLOOD WARNING : Flooding is occuring or is imminent

• Determine if your property is in a flood-prone area
• Purchase a weather radio
• Assemble a disaster supply kit to include a radio with extra batteries, flashlights, first aid kit and food
• Know how to stuff off your utilities
• Purchase Flood Insurance

During Heavy Rains...

• Listen to radio and TV stations for most current information
• Know what streams, bayous, drainage channels and creeks are prone to flood in your immediate area
• Avoid going to near flood areas. The water depth is unknown
• Do not drive into flooded streets. Water depth is unknown and conditions of the roadway may not be certain.
  
• Know how and when to evacuate from your immediate rea before it's too late
• If advised to evacuate, do so immediately

After a flood...

• Stay away from flood waters
• Be aware of areas where flood waters have receded
• Keep away from areas where power lines or poles are down or where destruction of properties have occured
• Be alert to personal health and safety issues regarding your family's welfare
• Continue monitoring your radio for the latest information
• Contact your insurance agent as soon as possible
  

Flash Flood

A flash flood is a rapid flooding of low-lying areas (washes), rivers and streams, caused by the intense rainfall associated with a thunderstorm, or multiple training thunderstorms. Flash floods can also occur after the collapse of an ice dam, or a man-made structure, such as a dam. Flash floods are distinguished from a regular flood by a timescale less than six hours.

Flash flooding occurs when the ground becomes saturated with water that fell so quickly that it could not be absorbed. The runoff collects in low-lying areas and rapidly flows downhill. Flash floods most often occur in normally dry areas that have recently received precipitation, but may be seen anywhere downstream from the source of the precipitation (even dozens of miles from the source).

Flash floods are extremely dangerous because of their sudden nature. Being in a vehicle provides little to no protection against being swept away; it may make people overconfident and less likely to avoid the flash flood. More than half of the fatalities attributed to flash floods are people swept away in vehicles when trying to cross flooded intersections. As little as two feet of water can be enough to carry away most SUV-sized vehicles

Understand Floods

A flood is an overflow of an expanse of water that submerges land, a deluge. In the sense of "flowing water", the word is applied to the inflow of the tide, as opposed to the outflow or "ebb".

It is usually due to the volume of water within a body of water, such as a river or lake, exceeding the total capacity of the body, and as a result some of the water flows or sits outside of the normal perimeter of the body. It can also occur in rivers, when the strength of the river is so high it flows right out of the river channel , usually at corners or meanders. These of course, are not applicable in such instances as sea flooding.

A flood occurs when an area of land, usually low-lying, is covered with water. The worst floods usually occur when a river overflows its banks. An example of this is the January 1999 Queensland floods, which swamped south-eastern Queensland. Floods happen when soil and vegetation cannot absorb all the water. The water then runs off the land in quantities that cannot be carried in stream channels or kept in natural ponds or man-made reservoirs.

Floods almost always follow hurricanes, especially in the coastal cities, and it is the most common type of all natural disasters.