Don’t wait until the weather forecast calls for prolonged heavy rains before buying flood insurance. While this practical coverage can be purchased at any time, most standard flood policies do not take effect for 30 days after purchase.
Flooding is the most common natural disaster in the country and can destroy homes and personal property. Because flood damage is not typically covered by a standard homeowners policy, purchasing a separate flood policy is necessary to protect against this costly and devastating risk.
If you are in a high-risk flood zone, a federally regulated lender will often require flood insurance to qualify for a mortgage. To satisfy the lender, buy coverage in an amount that sufficiently protects the loan. Residents of participating communities can obtain coverage through WYO Flood (Write Your Own) - NFIP.
Homeowners who live in flood plains without reliable controls, such as dams, should also consider flood insurance. Federal disaster declarations are not guaranteed, and having your own flood protection helps ensure you can recover financially without relying on limited post-disaster assistance.
Not all properties qualify for flood insurance; for example, some beachfront or ocean-side properties may have limited availability for flood coverage.
The Federal Emergency Management Agency (FEMA) reports many communities participate in tighter zoning and building measures to reduce flood risk, and homeowners in those communities may access National Flood Insurance Program options. For more on timing, coverage limits, and safety considerations, see Flood Insurance: Timing, Coverage and Safety.
Premiums vary based primarily on individual risk. Underwriters consider factors such as the property’s elevation, proximity to bodies of water, and whether the dwelling has a basement. Flood insurance is available to homeowners, renters, condo owners and renters, and commercial property owners and renters.
Call our office today — we'd be happy to assist you through the murky waters or you can ask an agent about your options.
Frequently Asked Questions
What does flood insurance typically cover?
Flood insurance usually covers structural damage to the building and damage to certain personal property, subject to the policy’s limits and exclusions.
How long after I buy a policy does coverage begin?
Most standard flood policies have a waiting period (commonly 30 days) before the coverage becomes effective, with some exceptions for certain lender-required purchases.
Is flood damage covered by my homeowner’s insurance?
Generally no; typical homeowner’s policies exclude flood damage, which is why a separate flood policy is recommended for flood-prone locations.
Can I get flood insurance if I live on the coast?
Availability depends on the location and specific risk; some coastal properties may face restrictions or higher premiums, so check with an insurance provider for options.