The NFIP flood policy has two objectives. One is to provide flood insurance, and the other is to reduce flood risk for all areas by creating flood management practices. FEMA manages the NFIP and is responsible for creating useful tools such as flood maps. These Flood maps indicate which areas are at risk for flooding.
Weather patterns change over time, and as these patterns change, so does the flood risk. One area could go from a low risk of flooding to high risk and vice versa. FEMA often enlists the help of communities to help keep them informed so they can update the flood maps. Private insurance companies also use these maps to estimate the cost of flood insurance for their clients.
While the NFIP flood insurance policy is more affordable than private insurance, there are some coverage limits. For example, if your home is worth more than $250,000 and you own high-value items, it's best to go with a private insurance company. We work with the NFIP and several private companies at Holt Flood Insurance. If you need help deciding which flood coverage to go with, we can help you. With over 30 years of flood insurance experience and thousands of customers served, you can trust us to give you the best advice.
For more information on the NFIP flood policy, visit our website or call us at (540)809-1415. We will answer any questions you may have. Contact Holt Flood Insurance today.