Although it may not seem like much, even a few inches of water can cause serious damage.

This can result in thousands of dollars in repair and restoration costs. Homeowners insurance DOES NOT cover floods. Although it may not seem as necessary as homeowners insurance, flood insurance is important if you want protection against losses from heavy and lengthy rainfalls, storm surges, blocked storm drainage systems, snow melts, etc.

Different types of policies are available based on your property's location and flood history:

• Standard Flood Insurance Policies- If you live in a community that participates in the National Flood Insurance Program (NFIP), your building and its contents can be covered by a standard flood insurance policy. The NFIP was established by the Federal Government to help communities who “voluntarily participate in the NFIP by adopting and enforcing floodplain management ordinances to reduce future flood damage.” To be considered a flood, the waters must cover at least two acres or affect at least two properties. You must apply for building coverage and contents coverage separately if you choose to invest in a standard flood insurance policy.
• Preferred Risk Flood Insurance Policies- If your home or business is in a low or moderate risk zone, your building may qualify for a low-cost preferred policy. While you aren't required to purchase flood insurance in low to moderate risk areas, a preferred risk policy will protect your home and its contents if you are affected by a flood that has extended into your area. Many flood insurance claims occur in low to moderate risk areas.
• Private Market Flood Policies- While not a federally backed program such as the NFIP, we do have private market options that are accepted by most financial lenders for your consideration.