Securing Flood Insurance
This playbook outlines the steps to understand when flood insurance is necessary and how to obtain a policy to protect your home. It provides guidance on researching flood risks, choosing the right insurance, and completing the purchase.
Step 1: Assess Risk
Determine if your property is in a high-risk flood zone by consulting FEMA's Flood Map Service Center or speaking with a local government official.
Step 2: Learn Requirements
Understand the requirements of your mortgage lender and whether they mandate flood insurance for your property's location.
Step 3: Research Coverage
Investigate what flood insurance covers and what it does not by reviewing the National Flood Insurance Program (NFIP) guidelines and private insurance options.
Step 4: Compare Policies
Compare policy rates and coverage details from multiple insurers, including both NFIP and private insurance companies.
Step 5: Choose Insurer
Select an insurance provider based on the coverage, cost, and the insurer's reputation for service during claims.
Step 6: Purchase Policy
Contact the chosen insurer to begin the application process, provide necessary documentation, and make the initial premium payment.
Step 7: Plan Renewal
Set reminders for policy renewals and review your policy annually to make adjustments for new flood maps, changing risks, or alterations to your property.
General Notes
Flood Map Updates
Flood maps can change over time, reflecting new data on risks and past flooding. Stay informed about updates that could affect your property's designation.
Special Considerations
Owners of properties located in Coastal Barrier Resources Systems (CBRS) areas or Otherwise Protected Areas (OPAs) might have limitations or special considerations for obtaining flood insurance.