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 Flood Insurance Programs
 Homeowners in high hazard flood areas have a 26 percent chance of flood loss over the life of a 30-year mortgage. About one-third of all flood claims paid each year are for property located outside high-risk areas. Beachfront property accounts for just three percent of annual flood losses. Flood coverage is a frequently misunderstood area of insurance protection. These are the facts:

Flood coverage is specifically excluded by all homeowner policies. A separate flood insurance policy is necessary.

Congress established the National Flood Insurance Program (NFIP) in 1968 to give property owners the opportunity to purchase insurance to cover flood losses, coverage that was previously too costly for private insurers to offer. All flood insurance is backed by the U.S. government.

Flood insurance is catastrophic insurance only. It provides assistance in the case of a natural disaster and is not intended to bring your home and its contents back to pre-flood condition. Most residential buildings can only receive up to $250,000 in coverage ($500,000 for non-residential buildings). Coverage for contents of homes is limited to $100,000 ($500,000 for non-residential locations).
Flood insurance requires a 30-day waiting period to become effective. Separate deductibles apply to both your home and its contents.

Contact Linda Hottle to discuss your specific needs and request a quote for coverage.

Flood: A general and temporary condition of partial or complete inundation of normally dry land areas from:  The overflow of inland or tidal waters,     The unusual and rapid accumulation or runoff of surface waters from any source,   Mudslides caused by flooding.

Picture of a flooded home
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 Copyright 2002, LRS & C

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