• Flood insurance is a type of insurance policy that covers damage to a home caused by an overflow of water brought on by a natural disaster. It is a federal plan backed by the National Flood Insurance Program (NFIP) and is available to homeowners, business owners and people who rent.


    The NFIP covers up to $250,000 of flood damage caused to a home. It covers damaged furnaces, water heaters, air-conditioners and floors, structural damage and the cost of cleaning up debris.


    Basic flood insurance does not cover damage caused to the contents inside of the home, such as sofas, clothing, wall decorations and other personal items. Purchase special flood insurance to cover damage to these items.


    According to the National Association of Insurance Commissioners, an average flood insurance policy costs $500 annually.


    According to, people are eligible to purchase flood insurance if they live in a community that has an agreement with the federal government to make flood insurance available.

    Time Frame

    Flood insurance goes into effect 30 days after purchase.

    Source: Information About Flood Insurance Answers About Flood Insurance

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