Flood Insurance

Do you have flood insurance? Ever wonder if you actually need it? When you think of a flood, do you imagine heavy rain and a torrent of water rushing by, tossing tons of debris around and destroying everything in its path?


The truth is that it only takes a relatively small amount of water to constitute a flood, and that a small amount of water is all it takes to create serious water damage to your property and personal items, along with a hefty repair bill. Flooding costs the United States more than any other type of natural disaster and American households are affected by flooding more often than by fires, earthquakes and tornadoes, costing an average of 50 billion dollars each year.


If a flash flood were to happen today, would you have peace of mind? Want to know more about flood insurance and your coverage options? What follows is some helpful information about what flood insurance is, why it is important to have it, what it covers and where to find the right policy for your needs.

What is flood insurance and why is having it important?

Flood insurance is a type of insurance policy created to provide coverage for flood related property loss and to lower financial loss risk for homeowners, renters and business owners. There are several reasons why having a well-designed flood insurance policy is essential:

1. While some areas tend to be more frequently affected than others, the truth is that every area in the United States is flood prone. In fact, each one of the 50 states has been affected by flooding in a major way over the past several years. The main causes of flooding in the United States include, but are not limited to the following:

Climate Changes




Dam or Levee Failure

Melting Snow

Blocked Drains and Water Backups

2. Flood insurance is not typically included in the average home, rental or business insurance policy and must be purchased as a supplemental coverage.

3. If your home or business is located in an area designated as having a high property flood risk by the Federal Emergency Management Agency (FEMA) based on historical trends, average rainfall, land topography and storm surges, having a flood insurance policy is vital.

4. If you want to purchase a home in a flood zone, your mortgage lender may require you to get flood insurance coverage before they will approve the loan.

What does flood insurance cover?

There are three major coverage types offered in the average flood insurance policy, which include:

Building Coverage

Provides coverage for buildings such as a home, office or other physical structures that can be damaged by water from a flood.

Replacement Cost Coverage

If your home is completely destroyed in a flood, this coverage covers the cost of replacing it. A caveat however, is that this type of coverage is limited to single-family homes, which are also primary residences and which are also insured for the majority of the cost of replacement.

Contents Coverage

Provides coverage for your personal household items such as electronics, appliances, clothing and furniture.

Depending on the way your individual flood insurance policy is written, specific coverage items may include the following:

Structural Damage

Plumbing and Electrical Repairs

HVAC Repair and Replacement

Carpet Replacement

Loss of Jewelry

Mold and Mildew Remediation

Removing Flood Debris

The actual coverage options included in your flood insurance policy depend largely on your specific situation. For example, if you rent your home, you may only want to purchase coverage for your personal belongings. However, if you own your home, a policy that includes, building, contents and replacement cost coverages would offer more comprehensive protection for your investment.

Who provides flood insurance coverage?

In 1968 the government run FEMA established a program known as the National Flood Insurance Program (NFIP) in communities commonly affected by flood water. This is the program through which most Americans can obtain their flood insurance.


When you are ready to buy flood insurance, it is important to keep the following information in mind:


1. It takes approximately 30 days for a new policy to go into full effect, so it is important to get coverage as soon as possible. However, if you purchase a new home and it takes less than 30 days to close on the property, the insurance coverage is made available sooner.


2. No matter which state you reside in, once your local community participates in the program, National Flood Insurance is available to you.


Even though flood insurance policies are provided through the National Flood Insurance Program, it is important to work with a flood insurance agent to make sure that you get the guidance, knowledge, support and assistance you need.


Your agent will help you to select the optimal policy options (premium rates and coverages), find discounts and file a claim if the need arises, making your life much simpler.

Protect your home with Ihry Insurance

Do you think that flood insurance is a waste of time and money? If you were faced with a flooding catastrophe today, would you be able to deal with the consequences? Having a flood insurance policy protects you from excessive risk and devastating financial loss if the unexpected happens.


Because floods are not limited to flood prone areas, and there is no way of knowing when one will strike, it is essential to obtain and maintain flood coverage if you have buildings and personal property that you want to protect.


If you aren’t sure whether or not you can access the National Flood Insurance Program through your community, speak to a qualified insurance agent to get clear on your options.


At Ihry Insurance, we work closely with you to find the right policy for your unique situation. Call today to speak with one of our helpful agents and get a free flood insurance quote.

insurance quote