Some private market flood insurance policies have shorter waiting periods.

Many federally backed flood Insurance policies have a 30 day waiting period. Homes and businesses in high-risk flood areas with mortgages from government-backed lenders are required to have flood insurance. More than 20 of flood claims occur in moderate- to low-risk areas. The NFIP works with communities required to adopt and enforce floodplain management regulations that help mitigate flooding effects.įlood insurance is available to anyone living in one of the 23,000 participating NFIP communities. The NFIP provides flood insurance to property owners, renters and businesses, and having this coverage helps them recover faster when floodwaters recede. With Risk Rating 2. Property owners, insurance agents, and lenders can use flood maps to determine flood insurance requirements and policy costs. Specifically, flood maps show a community’s flood zone, floodplain boundaries, and base flood elevation.

Flood insurance is a separate policy that can cover buildings, the contents in a building, or both, so it is important to protect your most important financial assets - your home, your business, your possessions. Flood maps show a community’s risk of flooding. Most homeowners insurance does not cover flood damage. The National Flood Insurance Program (NFIP) is managed by the FEMA and is delivered to the public by a network of more than 50 insurance companies and the NFIP Direct.įloods can happen anywhere - just one inch of floodwater can cause up to $25,000 in damage.

Fema flood zone map longview wa