Flood Insurance
Flood insurance is a cost-effective way to help you recover quickly from a flood. Learn more about the National Flood Insurance Program to see if a policy is right for your home or business.
Most homeowners, renters, and business insurance policies cover water damage resulting from internal defects, but a separate flood insurance policy is required to cover losses caused by natural hazard flooding. The National Flood Insurance Program (NFIP) is run by the Federal Emergency Management Agency (FEMA) and offers affordable flood insurance policies through regular insurance companies for natural hazard flooding.
You are required to buy flood insurance if:
- You own property in a high-risk flood zone (zones beginning with A or V on FEMA’s Flood Map) and have a federally backed mortgage; or
- You have received federal disaster assistance for flood damage and want to be eligible for FEMA assistance in the future.
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Still have questions? Contact:
Emergency Management
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85 Bragdon Street
Boston, MA 02119
From 2014 to 2024, almost one-third of NFIP flood insurance claims came from areas located outside of mapped high-risk flood areas.
If you are not in a mapped flood zone, that does not mean you are completely safe. Consider asking others in your area if they have experienced flooding. Local knowledge is often the most valuable information for assessing one’s risk.
If you’re buying a home, ask the seller if they have a flood insurance policy. The policy and any discounts may be able to be transferred to you. If you own a home, you may request the property’s flood-loss history report from FEMA.
What is Flood Insurance and How is it Priced
NFIP flood insurance has two types of coverage:
- Your building/structure (like walls, floors, and mechanical systems); and
- Its contents (your belongings like clothes, furniture, and electronics).
You can purchase separate coverage amounts and deductibles for each. For most NFIP policies, coverage begins 30 days after buying the policy.
The most coverage you can get:
| Homeowners |
Building: $250,000 Contents: $100,000 |
|---|---|
| Renters |
Building: N/A Contents: $100,000 |
| Business Owners |
Building: $500,000 Contents: $500,000 |
Your policy’s price is based on several factors:
- The likelihood of your property flooding (prices are higher for high-risk areas)
- The cost to rebuild your home or business
- How your property is protected from flood damage
- Your coverage selection (the value of things you cover affects your price)
- Your deductible selection (a higher deductible means a lower annual price, but you’ll pay more out-of-pocket if you have flood damage)
Not everything is covered:
- Only certain items in your basement are covered. Check with your insurance provider.
- Your car is not covered under NFIP. Check to see if your auto insurance includes flood protection.
- The cause of flooding determines coverage. A sewer that backed up due to heavy rain would be covered, but not damages from a backup caused by clogged pipes.
- The Standard Flood Insurance Policy (SFIP) will not cover mold damage when a policyholder fails to take reasonable action within their control to prevent the growth and spread of mold.
Why Get Flood Insurance
Hurricane Harvey caused catastrophic flooding in Texas and Louisiana. The storm caused $125 billion in damage (2017 USD) and remains one of the costliest natural disasters on record. An NFIP flood insurance policy can help you recover faster and cover more of your repair costs. FEMA’s disaster assistance requires a disaster declaration and may not completely cover losses. NFIP flood insurance policy does not require a disaster declaration and, on average, provides higher payouts than FEMA’s disaster assistance.
EXAMPLE COSTS AND PAYOUTS
- Average Home Repair Costs = $50,000
- Average FEMA Disaster Assistance Payout Without Insurance = $4,500
- Average Flood Insurance Payout = $100,000+
- The cost of flood insurance is as little as $3 per day.
Get a Quote
Visit FEMA’s FloodSmart.gov to see if you qualify, to find a provider, and to get a free quote. Get quotes from at least three insurance agents and compare them to FEMA’s online quote. Be sure to ask:
- What flood zone am I in?
- What’s covered?
- How does my deductible affect my price?
- What’s my maximum coverage?
- What else is affecting my price?
- Am I eligible for a subsidized rate?
-
Still have questions? Contact:
Emergency Management
-
85 Bragdon Street
Boston, MA 02119
