Flood Insurance

How Do You Know if You Need Flood Insurance?

Most homeowners’ insurance does not cover flood damage. When you purchase flood insurance, it will cover both physical damage to your home and belongings from floods. While homes and businesses in high-risk flood zones with government backed mortgages are required to have flood insurance, floods can happen anywhere and at any time. You don’t have to live on the coast, or near a body of water to experience flooding in your home or business. Groundwater flooding occurs when the level of water within the soil underground – known as the water table rises and reaches ground level. This occurs with changing weather that brings heavy rains and in populated developed areas where there may not be sufficient room for the water to drain. Consider purchasing flood insurance for the protection and peace of mind it brings.

Home and business owners can purchase flood insurance from the National Flood Insurance Program (MFIP) through private insurance agencies, like Staples & Associates. Most policies do not take effect until 30 days after signing so make sure to get your coverage before the storm season rolls in. The NFIP offers building coverage and contents coverage.

Building Coverage Protects Your:
  • Electrical and plumbing systems
  • Furnaces and water heaters
  • Refrigerators, cooking stoves, and built-in appliances like dishwashers
  • Permanently installed carpeting
  • Permanently installed cabinets, paneling, and bookcases
  • Window blinds
  • Foundation walls, anchorage systems, and staircases.
  • Detached garages
  • Fuel tanks, well water tanks and pumps, and solar energy equipment
  • Personal belongings such as clothing, furniture, and electronic equipment
  • Curtains
  • Washer and dryer
  • Portable and window air conditioners
  • Microwave oven
  • Carpets not included in building coverage (e.g., carpet installed over wood floors)
  • Valuable items such as original artwork and furs (up to $2,500)

When determining insurance coverage for flood damages, the cause of the flooding matters. According to the Federal Emergency Management Agency (FEMA), a flood is an excess of water on land that is normally dry, affecting two or more acres of land or two or more properties. Flood Insurance covers losses directly caused by flooding.

Consult a flood map by clicking here to identify if your property is in an area with a high risk of flooding.

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