property flood insurance
Am I Eligible For Flood Insurance
Am I Eligible For Flood Insurance
Eligibility for flood insurance typically depends on several factors, including your location, property type, and the availability of flood insurance providers in your area. Here’s what you need to know:
1. Location
- If your property is in the United States, flood insurance is available through the National Flood Insurance Program (NFIP), managed by FEMA.
- Properties in high-risk flood zones (Special Flood Hazard Areas or SFHAs) may be required to have flood insurance if you have a federally-backed mortgage.
- If you're in a moderate- to low-risk area, you can still purchase flood insurance, often at a lower cost.
2. Property Type
- Most residential, commercial, and rental properties are eligible for coverage.
- Some private insurance companies offer additional or alternative flood insurance for properties not covered by the NFIP or for coverage limits beyond the NFIP's maximum.
3. Community Participation
- Your community must participate in the NFIP for you to access federally-backed flood insurance. Most communities do, but you can check FEMA’s Community Status Book to verify.
4. Private Flood Insurance
- If your community does not participate in the NFIP or if you need broader coverage, you may be eligible for private flood insurance. This often has fewer restrictions and customizable policies.
Steps to Confirm Eligibility
- Check Your Flood Zone: Use FEMA's Flood Map Service Center to determine your property's flood risk.
- Contact an Insurance Agent: Speak with a local insurance provider about flood insurance options, including both NFIP and private policies.
- Verify Community Participation: Ensure your local government participates in the NFIP if you're considering federally-backed insurance.
Flood insurance is often recommended even in low-risk areas, as flooding can happen anywhere.
Here is what our clients are saying about us:
I have no problem giving you an A1 reference for taking care of the flood policies for me and Diane. I appreciate you working with the mortgage company: the surveyor and our previous agent. The result was a 75% reduction in our flood insurance premiums!
I have known Tim for many years and he is a man with great integrity, work ethic and one of the nicest persons I know. Over the years Tim has provided insurance counseling and advice to our company, for myself personally, as well as to our clients. Recently Tim, took time to analyze our flood insurance policy and he was able to make some excellent recommendations. Our flood insurance costs are now less and we have much better coverage. I recommend Tim to anyone without hesitation or reservation.
We contacted Mr. Holt for an estimate via email over the weekend prior to a closing on a property, hoping for a response on the following Monday to take with us with confidence in being insured at the settlement table on a Tuesday. He exceeded our expectations not once but in readily responding to the initial request and then to follow-up questions all during the weekend frenzy that occurs before closing. "Impressive and responsive customer service," for sure!
We'll help you:
Lower your current flood insurance premiums
Eliminate excessive & unnecessary coverage
Remove the FEMA from the claims handling process
