Flood Insurance

Since standard homeowners insurance doesn't cover flooding, it's important to have protection from the floods associated with hurricanes, tropical storms, heavy rains and other conditions that impact the U.S.

Just a few inches of water from a flood can cause tens of thousands of dollars in damage. From 2007 to 2011, the average residential flood claim amounted to almost $30,000. Flood insurance is the best way to protect yourself from devastating financial loss.

Flood insurance is available to homeowners, renters, condo owners/renters, and commercial owners/renters. Costs vary depending on how much insurance is purchased, what it covers and the property's flood risk.  A cost saving measure related to revised flood maps is called grandfathering.  For more information about flood insurance or to find an agent in your area visit FloodSmart.gov.  Use the following sheet for agent tips on flood map changes.   

Biggert-Waters Flood Insurance Reform Act of 2012

On July 6, 2012, Congress passed the Biggert-Waters Flood Insurance Reform Act of 2012.  The primary purpose of the Act was to extend the authority of the National Flood Insurance Program (NFIP) for five years and implement actuarial-based flood insurance rates for all at-risk structures.  For more information, see this handout which provides a summary of the Biggert-Waters Act

On March 21, 2014 the Homeowners Flood Insurance Affordability Act amended many sections of Biggert-Waters Flood Insurance Reform Act. The new legislation reinstated grandfathering and allowable exemptions for basements. It also slowed down some of the premium increases for certain classes of properties moving toward actuarial rating. The Home Owners Flood Insurance Affordability Act created a cost savings program for properties newly mapped in to the special flood hazard area that is explained within this fact sheet.  This downloadable handout provides a summary of the Homeowners Flood Insurance Affordability Act.