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Flood FAQs

Get the FAQs in the event of a disaster.

Flood insurance FAQs provided by The Welch Group.

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Just because you don’t live in a high flood risk area doesn’t mean it’ll never happen to you. That’s why it’s important to do everything you can to protect it—review the FAQs below.

What is the definition of flood?

A loose definition of flood is “rising water” that inundates 2 or more consecutive properties or acres at the same time. The damage must occur from rising water.

Are there more than just FEMA flood policies?

Yes, there are some private flood carriers offering flood insurance.

Are the rates the same with all FEMA flood carries?

Yes, FEMA simply pays the insurance company to service the account.

Does my home insurance policy cover flood insurance?

No, it does not.

Why did my FEMA flood rate change?

The method for determining the rates for flood insurance had not been updated since the 1970’s. According to FEMA, the new rating method they are using provides more individualized rates for homeowners.

What are the individual factors that FEMA is now using to determine my rates?

The variables that FEMA is using to determine rates are flood types, distance from a flooding source, frequency of flood, elevation, and the cost to rebuild the property.

Do I need a flood elevation survey to get flood insurance?

Not anymore However, if you are in a high-risk flood zone, you can have one done on your property, and it could potentially lower your premium.

What can I do to reduce my FEMA flood insurance premium?

Items such as elevating a building, installing proper flood openings, elevating certain machinery and equipment all help

If I don’t have a mortgage do I have to carry flood insurance?

No, you do not, but you don’t have coverage for flood damage if it occurs.

Will my “grandfather” rate be changing with FEMA?

Grandfather rates will be treated the same as non-grandfather rates by FEMA. Some clients will see an increase, some will see a decrease and others will see no change.

Is there a sur-charge on FEMA flood policies if it is not my PRIMARY home?

Yes, FEMA does have surcharge if it is not your primary home.

Flood Faqs - Close-up of Kitchen Floor Flooded with Water