Flood Damage & Flood Insurance


With it being Hurricane Season we would like to help educate our community on Flood Insurance and if you need it or not. Flood Insurance is a flood policy that is purchased above and beyond your homeowners insurance policy. You can purchase either through the National Flood Insurance Program (NFIP) or a private policy through an insurance agent like us. An excess flood policy is also available which will add an extra layer of protection onto your current policy if you choose to do so.

Generally speaking if you have rain or water damage coming from the top down it is usually covered by your homeowners policy; however, if you have water damage from the bottom up it isn’t covered unless you have a flood policy.

Here are some Frequently Asked Questions many of our clients ask about flood policies and coverage.

Here are some FAQ’s and Flood Facts:

  • In a high risk area your home is more likely to be damaged by flood than by fire.
  • In most cases it takes 30  days after purchase for a policy to take effect.
  • In the past 5 years, ALL 50 states have experienced floods or flash floods.
  • Homeowners Insurance does NOT cover flood damage.
  • The most common flood insurance is offered through the federally regulated program known as the National Flood Insurance Program (NFIP). It has two policies:

    • One that covers your actual home (building property) up to $250,000
    • One that covers your personal property up to $100,000
  • Am I eligible for flood insurance through the NFIP?

  • Can I get a private policy only?

    • Some insurers sell a purely private flood policy, which eliminates the need for an NFIP policy.
  • Can I skip Excess Flood Insurance?

    • Not if your lender insists you have it. If your house is located in a high-risk flood zone and you use a federally related mortgage loan (that’s most mortgages) to buy or refinance it, your lender will force you to have some type of flood insurance.
  • Won’t federal disaster assistance pay for my damages?

    • Not necessarily. Federal disaster assistance typically comes in the form of a low interest loan to help cover flood damage, not compensation for your losses. Even then, those loans are only available if the president formally declares a disaster and must be repaid along with any existing mortgage
  • Can I get flood insurance if I’m renting a property?

    • If you live in a community that participates in the NFIP, you can get flood insurance to cover the contents of your home or business.
  • I’m not in a high-risk area, but I’d like flood coverage. Is this possible?

    • Yes! You are eligible to purchase a flood policy with the same coverage you would receive if you lived in a high-risk area. That is, of course, as long as your community participates in the NFIP. A Preferred Risk Policy provides both building and contents coverage for properties in moderate- to low-risk areas for one low-price.
  •  What isn’t covered by excess flood insurance?

    • The typical excess flood insurance policy won’t cover:
      • Cash, art, jewelry, or other expensive items. (Take those items with you when you evacuate before a storm.)
      • Lost rental income from an investment property.
      • Basements in homes close to water.
      • Homes in areas that insurers consider too high a risk.
  • Insurers come up with a price for your specific property after considering a number of factors, such as:

    • Your home’s location, age, and flood zone.
    • How high your home is elevated.
    • What floor your condo is on.
    • Which way your building faces (the ocean or inland)
    • How much coverage your want to buy.
    • The distance from your home to the water.
    • The size of the deductible you’re willing to pay.

We have only listed some Frequently Asked Questions, and scenarios that you might encounter when seeking Flood Insurance. The best possible advice we can give here at Mel Himes & Associates Insurance Agency, Inc is to seek out your agent and see what the best option would be for you and your residence or business.

If you would like you can also contact us any time to go over and walk through the coverage’s you have and what would be best for you at no cost.

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