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Stay Dry. Learn More About Flood Insurance Policies.

If you live in a flood-prone area, flood insurance can cover flood or mudslide damage to your property. Federal law prohibits mortgage lenders from offering loans on homes located in a designated flood zone unless the consumer can show proof that they have secured the appropriate limit of flood coverage provided through the National Flood Insurance Program (NFIP).

According to the American Red Cross, flooding and associated debris flow causes as much as 90 percent of damage related to natural disasters (not including droughts)1. In general, floods can occur anywhere and are four times more likely to occur than fires, according to the insurance-rating and information agency A.M. Best Company, Inc. While A.M. Best notes that people living in high-hazard flood areas have a 26 percent chance of experiencing a flood over any 30-year period, 35 percent of flood claims each year are paid on property outside those zones.

Flood insurance typically covers damage to a building — including support systems and foundation. It can also cover direct physical losses and damage caused by floods, including mudslides.

Coverage may vary depending on the contents of a home. In addition, exclusions and limitations may also apply.

The Facts

Taken from: National Flood Insurance Program2

Floods and flash floods happen in all 50 states.

Hurricanes, winter storms and snow melt are common (but often over looked) causes of flooding.

Basic homeowners insurance usually does not cover flood damage.

Federal disaster assistance offers loans to help cover flood damage, not to compensate you for losses. Even then, those loans are only available if the President formally declares a disaster.

Less than 10% of all weather-related emergencies in the United States are declared federal disaster areas.2

There are generally three policy types available:

Home - for single- and multi-family homes.
General Property - for apartments and businesses.
Residential Condominium Building Association Policy - for condos.

Coverage may vary depending on the contents of a home; exclusions and limitations may apply to most policies.

Protect Yourself from Flood Damage

It takes 30 days after purchase for a flood policy to take effect, so make sure you’re covered before floodwaters start to rise.

If your washer and dryer are in the basement, elevate them on bricks or pressure-treated lumber at least 12 inches above the projected flood elevation.

Place your furnace and water heater on bricks or concrete at least 12 inches above the projected flood elevation.

Buy and install a sump pump with back-up power.

For floor drains, toilets and other sewer connections, install interior or exterior backflow valves or float plugs to prevent floodwaters from entering.

A Cooper Insures Licensed Agent is eager to assist you with special home, apartment or condo insurance needs. Call us at 1-888-878-8875.

1Source: (2004). Preparation Urged for Potential Spring Flooding. Retrieved June 15, 2007, from the American Red Cross. Web site: http://www.redcross.org/article/0,1072,0_157_2350,00.html

2Source: (2007). Flood Smart . Retrieved June 15, 2007, fromFEMA. Web site:http://www.floodsmart.gov