Flood Insurance + Build Responsibly
Insure your property for your flood hazard: Flood insurance provides coverage that most homeowner’s policies don’t – coverage for damage to buildings and contents from flooding, flood-related erosion, and flood-caused mudslides.
In order to help alleviate the financial devastation caused by flooding, Congress created the National Flood Insurance Program (NFIP) in 1968. The NFIP, overseen by the Federal Emergency Management Agency (FEMA), enables homeowners, business owners, and renters in participating communities to purchase federally backed flood insurance. This insurance is designed to provide an alternative to disaster assistance to meet the escalating costs of repairing flood damage to buildings and their contents.
You must have flood insurance to receive federally secured financing to buy, construct, or improve a building in a high-risk area known as a Special Flood Hazard Area (SFHA), where more than 75 percent of all flood claims are paid.
For more information about flood hazards and insuring your property from flood hazards, visit https://www.floodsmart.gov/floodsmart/ and https://www.floodsmart.gov/flood-insurance-cost
Build Responsibly: Before you build, consult your Building Department to determine the mandatory elevations for your home or building.
Homebuilder’s Guide to Coastal Construction: FEMA produced this series of 37 fact sheets to provide technical guidance and recommendations concerning the construction of coastal residential buildings. Visit https://www.fema.gov/home-builders-guide-coastal-construction-technical-fact-sheet-series-fema-p-499
What is Base Flood Elevation? The elevation shown on the Flood Insurance Rate Map (FIRM) for high-risk flood zones (“A” and “V” zones) indicates the water surface elevation resulting from a flood that has a 1 percent chance of equaling or exceeding that level in any given year.
If your home or business was damaged or destroyed by a flood, you face major decisions about your property. Do you repair? Do you rebuild? Do you relocate? The decisions you make now can help provide a safer, stronger future for you and your family. If you decide to repair or rebuild, here are some points to consider:
- The risk you faced yesterday might not be the same risk you face today or in the future.
- By rebuilding higher, you can reduce — or perhaps avoid — future flood loss and reduce the impact on your finances.
- The financial consequences of not having flood insurance coverage could be devastating if another flood occurs.