Policy Costs and Terms
How can I get flood insurance?
What will my flood insurance premium cost?
How is my flood insurance premium calculated?
Can I get a discount on my flood insurance premium?
How can I pay for my flood insurance?
Will there be a waiting period for my policy to take effect?
What is the policy term for NFIP insurance?
Does a deductible apply to my coverage?
How many structures (and their contents) may be insured on each policy?
Is there a 'grace period' after a policy has expired?
"Will damage-preventing measures I've taken in my home be reimbursed by my Standard Flood Insurance Policy?

Don't see your question? Go to the NFIP’s Answers to Questions

How can I get flood insurance?
If you live in a community that participates in the National Flood Insurance Program (NFIP), you are eligible to purchase flood insurance. Over 20,000 communities participate, and it's likely that yours is one of them. See a list of participating NFIP communities and learn more about NFIP in your community.

To buy a flood insurance policy, call your insurance agent or company, or find an agent serving your area by filling out the Flood Risk Profile to the left.

What will my flood insurance premium cost?
It is essential that you visit with your insurance agent to determine exact costs. However, if you’d like to receive a general idea of how much your premium will cost or find an agent serving your area, fill out the Flood Risk Profile to the left.

How is my flood insurance premium calculated?
A number of factors are considered when determining your flood insurance premium. These factors include: the amount and type of coverage being purchased, location and flood zone, and the design and age of your structure. For homes in high-risk areas (e.g., Special Flood Hazard Areas or AE, VE Zones) built after the first Flood Insurance Rate Maps were drawn for that community, the elevation of the building in relation to the base flood elevation is also required. For more information, visit Your Flood Risk or download Flood Insurance Basics [PDF 27KB] to learn more.

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Can I get a discount on my flood insurance premium?
It's possible that you qualify for a discount based on your community's participation and status in the Community Rating System program. For more information, visit CRS Ratings and You.

How can I pay for my flood insurance?
You can pay your insurance premium with a credit card (Visa, MasterCard or American Express) or with cash, check or money order. Your premium may be paid through an escrow account established by your mortgage lender, at your lender's discretion.

If your lender requires you to buy flood insurance and escrows for other types of insurance or taxes, they are required to also escrow flood insurance premium payments. Your payment for coverage is due to your agent with your application. For details, ask your insurance agent or lender.

Will there be a waiting period for my policy to take effect?
Most likely. There is generally a 30-day waiting period from the time an insurance policy is purchased to when it actually goes into effect. Read about exceptions to this waiting period.

What is the policy term for NFIP insurance
One year.

Does a deductible apply to my coverage?
Building and contents policies have separate deductibles for each. This means that if your building and contents are both damaged due to a flood event, both deductibles are applied.

For more information about deductibles, contact your insurance agent or company, or fill out the Flood Risk Profile to the left to find an agent serving your area.

How many structures (and their contents) may be insured on each policy?
Only one building and its contents can be insured on each policy.

Is there a 'grace period' after a policy has expired?
All policies expire at 12:01 a.m. on the last day of the effective term, but you remain covered for 30 days after the expiration of the policy. Claims for losses that occur in this grace period will be honored, provided that the full renewal premium is paid by the end of the 30-day period.

Will damage-preventing measures I’ve taken in my home be reimbursed by my Standard Flood Insurance Policy?
Some will be. When your insured home is in eminent danger of being flooded, you may receive up to a $1,000 reimbursement for your damage-preventing expenses. Things like renting storage space to protect your belongings, buying sandbags and lumber to make a barricade, and renting pumps are all things that qualify for reimbursement. No deductible is applied to this coverage.

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