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National Flood Insurance
Program
Flood Insurance Quotes, Florida Flood Insurance,
California Flood Insurance
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In 1968, Congress created the
National Flood Insurance Program (NFIP) in response to the rising
cost of taxpayer funded disaster relief for flood victims and the
increasing amount of damage caused by floods. The Mitigation
Division a component of the Federal Emergency Management Agency
(FEMA) manages the NFIP, and oversees the floodplain management and
mapping components of the Program. Nearly 20,000 communities across
the United States and its territories participate in the NFIP by
adopting and enforcing floodplain management ordinances to reduce
future flood damage. In exchange, the NFIP makes Federally backed
flood insurance available to homeowners, renters, and business
owners in these communities. Flood damage is reduced by nearly $1
billion a year through partnerships with communities, the insurance
industry, and the lending industry. Further, buildings constructed
in compliance with NFIP building standards suffer approximately 80
percent less damage annually than those not built in compliance.
And, every $3 paid in flood insurance claims saves $1 in disaster
assistance payments. The NFIP is self-supporting for the average
historical loss year, which means that operating expenses and flood
insurance claims are not paid for by the taxpayer, but through
premiums collected for flood insurance policies. The Program has
borrowing authority from the U.S. Treasury for times when losses are
heavy, however, these loans are paid back with interest.
Flood Insurance Rate Map also available. |
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National Flood
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National Flood
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Rate Map, Florida Flood Insurance |
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National Flood
Insurance Program, Flood Insurance
Rate Map, Florida Flood Insurance |
Flood Insurance is
required by law
To get secured financing to
buy, build, or improve structures in Special Flood Hazard Areas
(SFHA's) you will be required to purchase flood insurance. Lending
institutions that are federally regulated or federally insured must
determine if the structure is located in a SFHA and must provide
written notice requiring flood insurance. Flood insurance is
available to any property owner located in a community participating
in the NFIP. All areas are susceptible to flooding, although to
varying degrees, in fact, 25% of all flood claims occur in the
low-to-moderate risk areas. Flooding can be caused by heavy rains,
melting snow, by inadequate drainage systems, failed protective
devices such as levees and dams, as well as by tropical storms and
hurricanes.
There's a big difference
between having to buy flood insurance because the law says you must
and choosing to buy flood coverage because it's in your best
interests to do so. We recommend that all property owners purchase
and keep flood insurance because it is the best means of recovery
from flood damaged. Keep the peace of mind in knowing that your
property will be protected from damages from the next storm and
you're not left to cover the losses yourself? It
is not a bad idea to look into flood insurance rate map before
buying a flood insurance. |
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Get
cheap and instant online flood insurance quotes for the following
states in USA: Alabama - AL, Alaska - AK, Arizona - AZ, Arkansas -
AR, California - CA, Colorado - CO, Connecticut - CT, Delaware - DE,
District of Columbia - DC, Florida - FL, Georgia - GA, Hawaii - HI,
Idaho - ID, Illinois - IL, Indiana - IN, Iowa - IA, Kansas - KS,
Kentucky - KY, Louisiana - LA, Maine - ME, Maryland - MD,
Massachusetts - MA, Michigan - MI, Minnesota - MN, Mississippi - MS,
Missouri - MO, Montana - MT, Nebraska - NE, Nevada - NV, New
Hampshire - NH, New Jersey - NJ, New Mexico - NM, New York - NY,
North Carolina - NC, North Dakota - ND, Ohio - OH, Oklahoma - OK,
Oregon - OR, Pennsylvania - PA, Rhode Island - RI, South Carolina -
SC, South Dakota - SD, Tennessee - TN, Texas - TX, Utah - UT,
Vermont - VT, Virginia - VA, Washington - WA, West Virginia - WV,
Wisconsin - WI, Wyoming - WY. Also get Flood Homeowners insurance
quotes for all of Canada and Ontario.
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