Flooding is a significant risk for homeowners that can lead to damaged drywall, flooring, furniture, and electronics. If water isn’t removed quickly, harmful mold can develop, posing health risks to occupants. In some cases, flooding can impact the livability of a home. With flood damage costs projected to rise as the climate warms, it is crucial for homeowners to have flood insurance to protect against unforeseen flooding losses. This specific type of property coverage can augment your standard homeowners and renters insurance policies that typically exclude flood damage.

Who needs flood insurance?

While everyone can benefit from flood insurance, it’s especially vital for those living in flood-prone areas. Consider purchasing flood insurance if:

• You live near rivers, coastal regions, or low-lying land.
• Your house is in a designated flood zone.
• Your mortgage is financed by a lender that requires flood insurance.

Flooding can occur anywhere—not just in high-risk zones. Notably, the Federal Emergency Management Agency (FEMA) reports that about 40% of flood insurance claims are from areas not designated as high-risk flood zones.

What does flood insurance cover?

Flood insurance typically covers two main components:

1. Structure—This can cover the building, including its foundation, roof, walls, and attached fixtures, such as electrical and plumbing systems and HVAC equipment.
2. Contents—This can help recoup losses involving personal belongings such as furniture, electronics, and clothing.

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Where to get flood insurance

Flood insurance can be purchased through the National Flood Insurance Program (NFIP). Alternatively, you can buy private flood insurance from providers outside of the NFIP. Contact your insurance broker or agent to help you review available options. Keep in mind that there is typically a 30-day waiting period before coverage starts, so it’s important not to wait until a storm is approaching to purchase a policy.

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This infographic is for informational purposes only. The information herein is non-exhaustive and should not be construed as insurance advice. © 2024 Zywave, Inc. All rights reserved.