The National Flood Insurance Program

– Crystal Vagnier – Select Group – Writer/Editor

Insurance is all about planning for the unexpected. It’s super easy to become complacent and neglect setting up sustainable action plans, especially when a threat isn’t immediately looming overhead. Luckily, The National Flood Insurance Program is here to help by offering affordable insurance.

The purpose of The National Flood Insurance Program is to help reduce flooding on both private and public lands. In addition to providing cheaper options to property owners, it also aims to incentivize local communities to develop and maintain flood management regulations.

Deductibles can be a confusing aspect for policy holders when contemplating insurance. Flood insurance is required for homes from insured lenders or those purchased with federally regulated mortgages and located in high-risk flood areas. While every home purchased is not required to carry flood insurance, it is up to the policy holder to determine whether they are financially stable to recover from any type of flood loss. A highlight of The National Flood Insurance Program is its capacity to decrease the socio-economic impact of a natural disaster by encouraging the purchasing of general insurance in addition to flood insurance. Little facts, like elevating the first floor of a home just three feet to net a 60% savings on annual premiums, are important to share with policy holders. The benefits of flood insurance should be a part of the conversation for every home owner.

Check out the FEMA website for more information on flood insurance and discover the variety of options that are available for lowering premiums. Remember, it’s never too late to be too safe.