Flood

Anywhere it rains, it can flood

Floods can occur anywhere and at any time, but many occur seasonally, such as when snow melts in the spring, during hurricane and monsoon seasons or during particularly heavy rain storms. It is most common in low elevation areas.

Safety Tips

  • Move to higher ground.
  • Do not walk or drive through flooded areas.
  • If floodwaters are suddenly moving around your car, do not get out.
  • Do not drive over bridges if the water below them is moving quickly.
  • Your car can be carried away in just one foot of water.
  • You can be knocked over in just six inches of water.

Flood Facts

  • In the past five years, all 50 states have experienced floods or flash floods.
  • Everyone lives in a flood zone. (For more information, visit the FEMA Flood Zones FAQ.)
  • Homeowners insurance does not cover flood damage.
  • If you live in a Special Flood Hazard Area (SFHA) or high-risk area and have a federally backed mortgage, your mortgage lender requires you to have flood insurance. (To find your flood risk, fill out the Flood Risk Profile.)
  • Just a few inches of water from a flood can cause tens of thousands of dollars in damage.
  • Hurricanes, winter storms and snowmelt are common (but often overlooked) causes of flooding.
  • Federal disaster assistance is usually a loan that must be paid back with interest. For a $50,000 loan at 4% interest, your monthly payment would be around $240 a month ($2,880 a year) for 30 years. Compare that to a $100,000 flood insurance premium, which is about $400 a year ($33 a month).
  • A Preferred Risk Policy provides both building and contents coverage for properties in moderate- to low-risk areas for one low price.
  • You are eligible to purchase flood insurance as long as your community participates in the National Flood Insurance Program. Check the Community Status Book to see if your community is already an NFIP partner.
  • In most cases, it takes 30 days after purchase for a policy to take effect, so it’s important to buy insurance before the storm approaches and the floodwaters start to rise.
  • In a high-risk area, your home is more likely to be damaged by flood than by fire.
  • From 2005 to 2014, total flood insurance claims averaged more than $3.5 billion per year.
  • When your community participates in the Community Rating System (CRS), you can qualify for an insurance premium reduction discount of up to 45% if you live in a high-risk area and up to 10% in moderate- to low-risk areas.
  • Since 1978, The NFIP has paid nearly $50 billion for flood insurance claims and related costs (as of 2/17/15).
  • There are currently more than 5.3 million flood policies in force across more than 22,000 communities in the U.S.
  • The two most common reimbursement methods for flood claims are Replacement Cost Value (RCV) and Actual Cash Value (ACV). The RCV is the cost to replace damaged property. It is reimbursable to owners of single-family, primary residences insured to at least 80% of the building’s replacement cost.

Did you know you can bundle your flood insurance and homeowners insurance with Prepared?

Source: For more information about the National Flood Insurance Programm, visit Ready.gov.