What is the NFIP?
The National Flood Insurance Program is a Federal program created by Congress to mitigate future flood losses nationwide by enforcing building and zoning ordinances to provide access to federally backed insurance protection for property and business owners. The NFIP is designed as an alternative to disaster assistance to help meet costs associated with damage to buildings and their contents caused by flooding. Each community can adopt this program once an agreement between the Federal and State governments is reached, making flood insurance available within the community.
10 Flood Facts to know
- Federal disaster assistance is not the answer; it is only available if the President declares a disaster.
- There is usually a 30 – day waiting period after applying before coverage goes into effect.
- Contents coverage is available to homeowners, business owners, and tenants.
- Flood insurance is easy to get and available to Homeowners, renters, condo owners/renters and commercial owners and renters – fill out a free quote request or speak to someone here.
- Flood insurance is affordable.
- You can buy flood insurance no matter what your flood risk may be.
- Flood damage is not covered by your homeowner’s policy.
- The low-cost Preferred Risk Policy is ideal for homes and businesses in moderate to low-risk areas.
- Nearly 40% of small business never reopen their doors following a disaster because just a few inches of water can cause tens of thousands of dollars or more in damage. From 2007-2011 the average commercial flood claim was over $75,000.
- EVERYONE lives in a flood zone! Floods are caused by storms, melting snow, hurricanes, rapid accumulation or runoff of surface waters from any source, overflow of inland or tidal waters, and includes mudflow.
At Dickstein Associates we work closely with each of our clients to understand their unique needs. Whether it’s your car, home, or business, you deserve a personalized insurance plan, reviewed by a professional independent agent and best suited to protecting your lifestyle and future success. Contact us today for a free, no obligation consultation and flood insurance quote today.
