FLOOD INSURANCE POLICY
DO I NEED A FLOOD POLICY?
Your homeowners insurance policy does not cover flood!!!
For a variety of reasons, almost all insurance companies specifically EXCLUDE flood damage under the homeowners insurance policy, which means that if you want or need flood insurance for your home, you have to buy it from the National Flood Insurance Program (NFIP) offered by FEMA, the sole provider of flood insurance.
If you are in a flood zone, your mortgage company will require it.
If you are in the process of purchasing a new home, your lender will require the appraiser to provide them with a flood zone determination. If the home falls in an at risk area, they will likely require that you purchase an additional flood policy along with homeowners insurance. If you want to know if your home or potential purchase is within a flood zone, feel free to contact us at (615) 383-8874, and we can consult the flood zone map for you.
Flood insurance FACTS
The National Flood Insurance Program was created in 1968 as a way to provide flood insurance to individuals and businesses as traditional insurers began to leave the market for flood insurance.
Cities must adhere to FEMA guidelines for flood prevention in order for their residents to be eligible for the program
You don’t have to live in a flood zone to be flooded
Flood is the most common natural disaster!
25% of flood claims occur outside of high risk areas
You don’t have to be near a body of water to flood
HOW MUCH DOES A FLOOD POLICY COST?
Regardless of the servicing company you purchase a flood policy through, the price will always be the same for your home. There are multiple companies that are contracted by the NFIP to provide policies and claims assistance, but the pricing is controlled by the NFIP.