Gumberry, North Carolina

the National Weather Service has declared March 16 through 20 flood
safety awareness week. The National Weather Service in Wakefield
Virginia will feature a different educational topic each day during
the awareness week.

Today's topic: determining flood risk and flood insurance.

What is flood insurance?

In 1968, Congress created the National flood insurance program... nfip
in response to the rising cost of taxpayer funded disaster relief
for flood victims and the increasing amount of damage caused by
floods.

Why do I need flood insurance?

Flood losses aren't covered by your homeowners insurance policy.
Local flooding can happen in all parts of the country at almost any
time of the year. Flooding causes more damage in the United States
than any other weather related event, an average of $4.6 billion a
year in the past 20 years.

How do I obtain a flood insurance policy?

You can Purchase National flood insurance from private insurance
companies and agents. In fact, you may be able to Purchase it with a
credit card. Currently, there are over 100 insurance companies that
sell National flood insurance coverage, in addition to some 60,000
independent insurance agents.

If the seller of the property has flood insurance coverage on the
building, that policy can be assigned to the buyer at the time of
closing. If the mortgage company requires flood insurance as a
condition of the loan, the lender may escrow flood insurance premiums
making it easy to ensure that you will not get caught without flood
insurance when a flood threatens your home.

Who can Purchase flood insurance?

Anyone in a community that participates in the National flood
insurance program can Purchase building and... or contents coverage,
with a few exceptions. Coastal barrier resources system areas,
otherwise protected areas, and buildings principally below ground or
entirely over water are not eligible for National flood insurance.