Flood Insurance

Flood Insurance

Why Do I need flood insurance? 

Flood insurance is a complex and unique form of insurance coverage for a few reasons:

1.) Flood policies are underwritten by the federal government and administered by private insurance companies.

2.) In some instances flood insurance is required if your home has a mortgage.

3.) Flood policies have explicit limits, and in many cases you can’t purchase enough insurance to cover the full value of your home or belongings.

4.) Flood claims are handled (as part of the administration) by private insurance companies and agents in collaboration with FEMA and the federal government.

5.) Different policy options are available based on the level of risk and the design / construction of your home and the construction date.


Flood Insurance Coverages

    Like any insurance policy its important to know and understand what is covered and what is not covered. 

What’s Covered?

    This will serve as a basic guide to what’s covered and what is not covered. Please refer to your policy for the exact details as all policies are not the same. 


Items Covered Under Building Property:

Physical damage to your personal property, building, and possessions is covered. Under the “building property” coverage the building, its foundation, electrical and plumbing systems, water heaters, HVAC equipment, carpeting, flooring, and more.


Personal Contents Property (your stuff)

    Personal items like clothing, furniture and electronic equipment


    Washers, dryers, and portable dish washers

    Some valuable items up to $2,500     


Notable Exclusions

    Coverage in basements is limited by your policy no matter what the flood zone or construction date is. 

    Some areas are not covered based on flood zone and date of construction, things like crawl spaces, basements, walkout basements, etc. 

    High value items like currency, coins, and precious metals. Also stock certificates and other paper assets. 


Flood Insurance Quick Facts

    1.) Everyone lives in a flood zone.

    2.) Most homeowners policies exclude floods.

    3.) Most flood policies have a 30 day “waiting period” before coverage is in force.

    4.) In high risk areas homes are more likely to be damaged by flood than by fire.

    5.) People outside of ‘high risk’ areas file 20% of NFIP claims.

    6.) Flood insurance claims average about $3 billion per year.

    7.) More than 5 million people already have flood insurance policies.


If your home is located in a high risk area flood plain or near a stream, river, creek, or other source of water you may be a candidate for flood insurance.


Its best to check with your local agent if you’re concerned about the risk of flooding in your home.


Why Choose the Tanner-Prince Agency for Your Flood Insurance Needs?


Janet Prince is an expert in flood insurance. She is an Associate in National Flood Insurance (ANFI). Her flood insurance agent ID is 124200.  


Frequently Asked Flood Insurance Questions

    1.) Does my home insurance policy cover floods? 

    2.) If my property is flooded will I receive support from the government?

    3.) How do I know if I’m eligible for flood insurance?

    4.) Why does my bank require me to buy flood insurance?

    5.) What’s the cheapest flood insurance I can buy?

    6.) How can I purchase additional insurance above and beyond what the NFIP offers?