Blog Post  National Preparedness Month: National Flood Insurance Program Facts

You never know when rainfall may lead to a major flood. National Preparedness Month is a great time to make sure your home and belongings are prepared for the unexpected. Having a flood in your home can cause major destruction, leading to costly repairs. Programs like the National Flood Insurance Program (NFIP) provide flood insurance to property owners and renters helping them to prepare for the unexpected.

This year during National Preparedness Month, Governor Charles D. Baker declared September 2020 Emergency Preparedness Month in Massachusetts to encourage everyone in the Commonwealth to plan and prepare for disasters. Having the right insurance coverages is an essential item in your emergency preparedness toolbox. For some, flood insurance can make all the difference when recovering and making repairs to your home.

To help you weather any storm headed your way, check out of the most commonly asked questions about flood insurance from the NFIP.

1. Do I need flood insurance?

Every property is vulnerable to flooding. Flooding is the most common and costly natural disaster in the United States. In fact, between 2015 and 2019, policyholders outside of high-risk areas filed more than 40% of all NFIP flood insurance claims.

Many people may think a homeowners insurance policy is enough, however, most won’t cover flood damage. Only a specific flood insurance policy does.

2. What factors go into determining my rate?

Your agent can give you specific information about your rate and coverage options, however, some factors may include:

• Your property’s flood risk (e.g., your mapped flood zone);
• The type or amount of coverage purchased (e.g. building and contents coverage are purchased separately, it’s important to make sure to have both for complete coverage);
• The design and age of your structure; and
• The location of your structure’s contents (e.g. elevated utilities may bring the rate down).

3. How do I get a flood insurance policy?

Your insurance company or agent can give you more information about the right coverage for you. If you need help finding an insurance provider, go to FloodSmart.gov or call the NFIP at 877-336-2627.

4. How do I start a claim after experiencing a flood?

Follow these steps to report a claim:

• If you are an NFIP policyholder and experience a flood, report your loss immediately to your insurance agent or carrier. If possible, take photos of any damage to the interior and exterior of your home. And be sure to ask about advance payments to jump start your recovery.
• Make an appointment with an insurance adjuster.
• In response to COVID-19, a remote inspection is an option FEMA is offering to policyholders who have experienced a flood. The adjuster will assess the damage to your home, either in person or remotely, to determine the amount of the claim, and answer any questions you may have about the process and what’s covered under your policy. For more information on starting a claim or the inspection process, visit gov/start.
• If you need help finding your insurance agent or carrier, call the NFIP at 877-336-2627.

5. What is a mandatory purchase requirement?

If you own a property in a high-risk flood area, you may be required to have flood insurance. Homes and businesses in high-risk flood areas with government-backed mortgages are required to have flood insurance.

Even if you live outside the high-risk flood area and you aren’t federally required to have flood insurance, your lender may still require you to purchase a flood insurance policy.

Where it can rain, it can flood.  National Preparedness Month is a great time to make sure your home and belongings are prepared for the unexpected. For more information about disaster preparedness and insurance needs specific to Massachusetts visit the Division of Insurance’s s website at: www.mass.gov/consumer-safety-and-disaster-information.