![]() While flood insurance is offered through the NFIP, policies are sold and administered by private insurance companies. Note that Empire frequently issues NFIP policies in our coverage areas, but availability varies by location. You can check whether your community participates in the NFIP Community Status Book (click on your state, and then search through the alphabetical listing of communities to see if yours is on the list). Most communities participate, but not every municipality across the country does. To obtain an NFIP flood insurance policy, your community must participate in the program. However, a lender may require you to hold flood insurance at any time - even if the company is not legally mandated to do so, according to FEMA. Usually, that’s not the case if your home falls in a moderate-to-low risk area. If your home falls in a high-risk flood area and you have a mortgage from a federally regulated or insured lender, your lender is legally mandated to require you to have flood insurance, FEMA says. The types of coverage you purchase and your limits you set help determine the policy price. You may also be able to purchase separate coverage for the structure of your home and for your belongings. The price of flood insurance, like all insurance, is based on a number of factors including your property’s flood risk, what the policy coverage and how much coverage is included in the policy. We can help you purchase flood insurance and discuss whether it may be right for you. The National Flood Insurance Program (NFIP), which is managed by FEMA, issues flood insurance as do some private insurers. Because floods can happen anywhere, you may want to consider purchasing a separate flood insurance policy. Homeowners Insurance Does Not Typically Cover FloodsĪn important item to note is that a standard homeowners insurance policy does not cover flood damage. Some things to consider while you’re determining whether or not to buy a flood insurance policy. While some areas are more prone to flooding, it can happen anywhere at any time. Even a few inches of water can cause costly damage to your home and its contents.Īs we’ve seen over the years, there are many conditions that can cause flooding including spring thaws, heavy rains, hurricanes and the rapid accumulation of rain after a wildfire. 1 natural disaster in the US, according to the Federal Emergency Management Agency (FEMA). To help you decide whether flood insurance is right for you, let’s review a bit about both floods and insurance.įloods are the No. Not all products and services referenced on this site are available in every state, jurisdiction or from every person listed.Ĭheck the background of this investment professional on FINRA’s BrokerCheck.You may be wondering whether you actually need flood insurance and what exactly it covers. ![]() Persons mentioned on this website may only offer services and transact business and/or respond to inquiries in states or jurisdictions in which they have been properly registered or are exempt from registration. #0G39542. This site is published for residents of the United States and is for informational purposes only and does not constitute an offer to sell or a solicitation of an offer to buy any security or product that may be referenced herein. Securities America and its representatives do not provide tax or legal advice therefore, it is important to coordinate with your tax or legal advisor regarding your specific situation.ĬA Insurance Lic. and Klamath Financial Group and the Securities America Companies are not affiliated. ![]() James Hurst, Investment Advisor Representative. Advisory services offered through Securities America Advisors, Inc. Securities offered through Securities America Inc., Member FINRA / SIPC.
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