Who do I go to first for help with questions about my Flood policy?
You should call your insurance agent or insurance company first.
Does my NFIP policy cover all the buildings on my property?
The Standard Flood Insurance Policy provides coverage for one building per policy. The only exception is 10% coverage for a detached garage. However, the total
payment for flood damage to the detached garage and the house together cannot exceed the building policy limit. For coverage to apply, the garage can only be used
for parking and storage. Any other use would void this coverage, i.e. if the garage has a workshop, the coverage would not apply. All other buildings on the
premises need separate coverage. Policy limits for residential properties are $250,000 and $500,000 for commercial properties.
Are the contents of my home covered under my NFIP policy?
Contents are not automatically included. If contents coverage is desired a specific amount must be named and a separate premium charged, but it doesn’t need to be a
separate policy. Contents coverage limits are $100,000 for residential policies and $500,000 for commercial policies.
Will my home and its contents be covered in the event of flooding from a hurricane?
Damage from rising or tidal water is specifically excluded from a homeowners policy and must be covered by flood insurance issued under the National Flood Insurance
Program. Flood insurance is a separate, special policy, but it can be purchased in conjunction with a homeowners policy and from the same office or agent. It is
federally-subsidized coverage issued and administered by the Federal Insurance Administration, an arm of the Federal Emergency Management Agency.
What is Actual Cash Value?
Actual Cash Value (ACV) is the cost to repair or replace an insured item of property at the time of the loss, less physical depreciation. The value of physical
depreciation is based on the age and condition of the item. Personal property, i.e. contents, is always paid at ACV.
What does Post-FIRM mean?
FIRM stands for Flood Insurance Rate Map. Post – FIRM means built after the effective date of the initial Flood Insurance Rate Map for the community or
December 31, 1974, whichever is later.
Does my Flood policy cover my additional living expenses when I cannot return home?
No. There is no coverage for Additional Living Expenses or Loss of Use or Business Interruption.
Does my NFIP policy cover mold or mildew?
Damage from mold and/or mildew resulting from the after-effects of a flood is covered but each case is evaluated on an individual basis. Mold and/or mildew
conditions that existed prior to a flooding event are not covered. After a flooding event, the policyholder is responsible for taking reasonable and
appropriate mitigation actions to reduce and /or eliminate mold and/or mildew. Reasonable actions taken to mitigate mold and/or mildew are covered (for example,
the use of responsible drying-out techniques or application of mildicide at a reasonable cost).
Does my Flood policy cover water backed up from the sewer?
Back up of water from sewers and drains is excluded, except when caused by a flood.
What is Increased Cost of Compliance, or ICC?
This coverage provides up to $30,000 to comply with the community’s floodplain management regulations when a building has been substantially damaged by flood
and is in a designated floodplain.
Does my Flood policy cover landscaping or my deck?
No, there is no coverage for landscaping, trees, decks or outdoor furniture. Other exclusions are found in the Standard Flood Insurance Policy.
What is a Proof of Loss?
A Proof of Loss is a legal document that is your statement of the amount you are claiming under the policy. Under the NFIP policy, your adjustor may prepare a
Proof of Loss as a courtesy. However, you, the insured, are responsible for submitting either the Proof of Loss prepared by your adjustor, or you may prepare
your own. Generally, you must submit it to your insurance company within 60 days of when the damage occurred.
What do I do if I do not agree with my adjuster?
You should work with your adjustor as long as possible. Ask your adjustor to work with your contractor if your disagreement involves the building claim. If you
cannot agree with your adjustor, ask for assistance from his supervisor. If you cannot resolve your differences, contact your insurance company.
If I do not have insurance but would like to purchase it, what do I do?
Call your insurance agent. Flood insurance is available to any homeowner or business owner who lives in an NFIP-participating community. These are communities
that have agreed to pass and enforce certain storm water and flood plain management ordinances.
Information about flood insurance is also available on the web at www.fema.gov/nfip