| In 1968 the National Flood Insurance Program (NFIP) | | | | mortgage. |
| was established to offer flood protection for property | | | | You can insure just your home or business or add |
| owners. The insurance is sold by private participating | | | | coverage for your personal property at additional cost. |
| companies and the risk is backed by the federal | | | | It is also possible to get just the personal property |
| government. The cost is the same at each | | | | coverage. This can be a good option if you are renting. |
| participating company. | | | | The cost is typically around $400 per year (less for |
| Standard homeowner policies DO NOT cover flood | | | | personal property only coverage). If you are in an area |
| damage. One of the main coverage's on a | | | | that is at high risk for flooding, the cost will be higher. |
| homeowner's policy is for fire damage. Floods damage | | | | Your insurance agent can give you the rate for your |
| far more homes than fire so it is important to get a | | | | home. If your agent doesn't sell flood insurance you |
| separate flood policy. There is a misconception that | | | | can contact the NFIP at 800-427-4661. You can also |
| flood insurance is not necessary because of | | | | find information at website. Texas residents can get |
| government disaster relief for flooded areas. The truth | | | | information or a quote from my website at There is a |
| is that these relief programs are generally in the form | | | | standard 30 day waiting period for flood insurance to |
| of a loan. The loan then has to be repaid in addition to | | | | go into effect. You can't wait until a big storm |
| any payment you are already making for your home | | | | threatens and get the insurance at the last minute! |