Flood Insurance: A Guide for Homeowners

Flood Insurance: A Guide for Homeowners

April 25, 2023

While fire may be a more common concern among homeowners, your home could in fact be as much as ten times more likely to be damaged by water than by fire.** You don’t have to live in a flood-prone area to encounter flooding in your home. This can happen at any time to anyone!

What is Flood Insurance?

Flood insurance is a type of insurance policy that covers losses related to flooding. This includes damage caused by heavy rains, hurricanes, storms, and other natural disasters that result in water accumulation on your property. Flood insurance is available to homeowners, renters, and business owners through the National Flood Insurance Program (NFIP) and private insurance companies.

Why is Flood Insurance Important?

The importance of flood insurance cannot be overstated. Here are some key reasons why:

  1. Protection from Financial Losses: Flood damage can be extensive and expensive to repair. Without flood insurance, you may be forced to pay for these repairs out of your own pocket. Did you know: Just one inch of water can cause $25,000 of damage to your home!
  2. Peace of Mind: Knowing that you have flood insurance can give you peace of mind and you can focus on taking steps to prevent or minimize damage to your property.
  3. It's Required: If you live in a high-risk flood area, your mortgage lender may require you to purchase flood insurance. Even if it's not required, it's still a good idea to have flood insurance to protect your property and financial future.
  4. NFIP Coverage is Affordable: The NFIP offers flood insurance coverage at affordable rates, making it accessible to most homeowners and business owners. Premiums vary depending on factors such as your property's location, flood risk, and the amount of coverage you need.


Preventing Flood Damage

While flood insurance is essential for protecting your property and financial future, there are also steps you can take to prevent or minimize flood damage. Here are some tips from Travelers Insurance:

  1. Elevate Electrical Systems: If you live in a flood-prone area, consider elevating your electrical systems, such as outlets and switches, to prevent damage from flooding.
  2. Seal Basement Walls: Sealing your basement walls can help prevent water from seeping in during a flood.
  3. Install a Sump Pump: A sump pump can help remove water from your basement or crawl space during a flood, reducing the risk of water damage.
  4. Install an interior or exterior backflow prevention valve. A licensed plumber can complete this to help prevent sewage backup.


Protect your property and ensure your financial stability in the event of a flood. Contact us to help you plan for a natural disaster with flood insurance.

Sources: https://www.floodsmart.gov/