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What Does Flood Insurance Cover?
Flood insurance is an optional insurance coverage that can help protect your home against the damage caused by flooding. A common misconception is that it's only needed in areas highly prone to flooding. However, flooding is caused by a variety of reasons including poor drainage systems, rapid accumulation of rainfall, and construction run-off.
Flood insurance rates are established by the federal government. As a result, all companies will use these same rates to determine your cost for flood insurance coverage. Quotes given for flood insurance are based on a customer’s geographic location and the flood risks associated with that area.
What do government regulations define as a flood?
A flood is a general and temporary condition where two or more acres of normally dry land or two or more properties are inundated by water or mudflow.
What about a flood zone?
According to FEMA and the National Flood Insurance Program, any building located in an A or V zone is considered to be in a Special Flood Hazard Area, and is lower than the Base Flood Elevation. V zones are the most hazardous of the Special Flood Hazard Areas.
In order for us to do a flood insurance quote outside the B, C, & X zones, we will need a copy of the FLOOD ELEVATION CERTIFICATE which is done by a surveyor.