The National Flood Insurance Program (NFIP) is a federal program in the United States aimed at reducing the financial impact of flooding on individuals, businesses, and communities. Established by the Federal Emergency Management Agency (FEMA) in 1968 through the National Flood Insurance Act, the NFIP offers flood insurance to property owners in participating communities, provides floodplain management assistance, and seeks to mitigate the risks and costs associated with flooding.

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Why Flood Insurance is Essential: Lessons from Hurricanes Helene and Milton

The devastating impacts of Hurricanes Helene and Milton have shown that flood risk isn’t limited to coastal areas. These storms have highlighted a crucial gap that individuals and businesses need to be aware of: flood damage is generally not included in typical home, condo, renters, or commercial property insurance, making a separate flood insurance policy essential for true protection.

Flood Insurance Issues for Home Buyers & Sellers

For those selling or buying homes, it’s crucial to note the updates to the NFIP and revised flood insurance rates starting April 1, 2015. These changes affect property owners or buyers in flood zones or areas newly designated as Special Flood Hazard Areas due to updated flood maps.

How To Protect Your Home From Water Damage

Various insurance policies cover different types of water damage, with homeowners and renters insurance typically including protection for burst pipes, wind-driven rain, and damage from roof ice dams. While standard policies may cover top-down water sources like rainfall, additional coverage such as sewer backup riders may be necessary for certain situations.