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Flood Insurance: Residential

Flood insurance can only be purchased through an insurance agent; you cannot buy it directly from the federal government. Protect your home and its contents from damaging flood waters and the repercussions of such a peril.

Coverage

As with any other type of insurance, it's important to know what your policy does and doesn't cover. For example, damage caused by a sewer backup is only covered by Flood insurance if it's a direct result of flooding. The damage is not covered if the backup is caused by some other problem.

Dedictible

Deductibles apply separately to building and contents with different amounts to choose from. Like other insurance plans, a higher deductible will lower the premium you pay but will also reduce your claim payment. Your mortgage lender can also set a maximum amount for your deductible.

Mandatory Requirements

Homes and businesses with mortgages from federally regulated or insured lenders in high-risk flood areas are required to have Flood insurance. While Flood insurance is not federally required if you live in a moderate-to-low risk flood area, it is still available and strongly recommended.

Rates

The NFIP, a federal program, offers Flood insurance, which can be purchased through most leading insurance companies. Rates are set and do not differ from company to company or agent to agent. These rates depend on several factors, including the date and type of construction of your home, along with your area's level of risk. Most premiums include a Federal Policy Fee and ICC Premium. If your community participates in the Community Rating System (CRS), you may qualify for an insurance premium discount in some communities of up to 45% if you live in a high-risk area and up to 10% in moderate-to-low risk areas.

30-Day Waiting Period

Typically, there's a 30-day waiting period from date of purchase before your policy goes into effect. Here are the only exceptions:

  • If Flood insurance is being purchased in connection with the making, increasing, extending or renewing of your loan.
  • If a building has been newly designated in the SFHA and Flood insurance is being purchased within the 13-month period following a map revision.
  • If Flood insurance is required as a result of a lender determining that a loan that does not have Flood insurance coverage should be protected by Flood insurance.
  • If an additional amount of insurance is selected as an option on the renewal bill.
  • If a property is affected by flooding on burned Federal land that is a result of, or is exacerbated by, post-wildfire conditions when the policy is purchased within 60 days of the fire containment date. 

What’s Covered 

Building Property

  • The insured building and its foundation
  • Electrical and plumbing systems
  • Central air conditioning equipment, furnaces and water heaters
  • Refrigerators, cooking stoves and built-in appliances such as dishwashers
  • Permanently installed carpeting over unfinished flooring
  • Permanently installed paneling, wallboard, bookcases and cabinets
  • Window blinds
  • Detached garages (up to 10 percent of building property coverage); detached buildings (other than garages) require a separate building property policy
  • Debris removal 

Personal Contents Property

  • Personal belongings, such as clothing, furniture and electronic equipment
  • Curtains
  • Portable and window air conditioners
  • Portable microwave ovens and portable dishwashers
  • Carpets that are not included in building coverage
  • Clothing washers and dryers
  • Food freezers and the food in them
  • Certain valuable items such as original artwork and furs (up to $2,500) 

What’s Not Covered

  • Damage caused by moisture, mildew or mold that could have been avoided by the property owner
  • Currency, precious metals and valuable papers such as stock certificates
  • Property and belongings outside of an insured building such as trees, plants, wells, septic systems, walks, decks, patios, fences, seawalls, hot tubs and swimming pools
  • Living expenses such as temporary housing
  • Financial losses caused by business interruption or loss of use of insured property
  • Most self-propelled vehicles such as cars, including their parts (see Section IV.5 in your policy) 

Coverage is limited in basements regardless of zone or date of construction. It's also limited in areas below the lowest elevated floor, depending on the flood zone and date of construction. These areas include:

  • Basements
  • Crawl spaces under an elevated building
  • Enclosed areas beneath buildings elevated on full-story foundation walls that are sometimes referred to as "walkout basements"
  • Enclosed areas under other types of elevated buildings 

Always ask your GHM agent for additional details on your basement coverage.

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F: 866-274-0005
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Foremost Insurance Group
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The Hartford
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Jewelers Mutual Insurance Company
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MEMIC
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800-660-1306

MMG Insurance
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888-664-2455

Patriot Insurance Company
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Patrons Insurance
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866-611-7887

Peerless Insurance
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800-228-7830

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Progressive
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Travelers
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Union Mutual of Vermont
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