Making Everyday a little Brighter

Flood Questions

What is the "100-year flood"?

The term "100-year flood" is misleading. It is not the flood that will occur once every 100 years. Rather, it is the flood elevation that has a 1- percent chance of being equaled or exceeded each year. Thus, the 100-year flood could occur more than once in a relatively short period of time. The 100-year flood, which is the standard used by most Federal and state agencies, is used by the NFIP as the standard for floodplain management and to determine the need for flood insurance. A structure located within a special flood hazard area shown on an NFIP map has a 26 percent chance of suffering flood damage during the term of a 30 year mortgage.

I have lived here forever and have never been flooded. Why do I need flood insurance?

The flood hazards shown on NFIP maps are based on the best information available at the time the maps were prepared. In many areas, hydraulic and hydrologic studies were conducted to reflect the long-term projection of flood risk. Because of the infrequent occurrence of flood events and the relatively short history of the NFIP, Special Flood Hazard Areas (SFHAs) are not based only on the past flooding occurrences. The fact that a flood hasn't occurred within memory doesn't mean one won't happen soon.

The 100-year flood is a relatively rare event (1-percent chance in any given year), but structures located in the floodplain have a significant chance (26%) of suffering flood damage during the term of a 30-year mortgage. For these reasons, flood insurance is required as a condition of receiving Federal or federally-backed financial assistance.

 

What Does Flood Insurance Cover?

The Standard Flood Insurance Policy (SFIP) Forms contain complete definitions of the coverage they provide. Direct physical losses caused by "floods" are covered. Also covered are losses resulting from flood-related erosion caused by waves or currents of water activity exceeding anticipated cyclical levels, or caused by a severe storm, flash flood, abnormal tidal surge, or the like, which result in flooding, as defined. Damage caused by mudslides (i.e., mudflows), as specifically defined in the policy forms, is covered.

What Is Covered in My Basement?

The NFIP defines a basement as any area of a building with a floor that is below ground level on all sides. While flood insurance does not cover basement improvements, such as finished walls, floors or ceilings, or personal belongings that may be kept in a basement , such as furniture and other contents, it does cover structural elements, essential equipment and other basic items normally located in a basement. Many of these items are covered under building coverage, and some are covered under contents coverage. The NFIP encourages people to purchase both building and contents coverage for the broadest protection.
The following items are covered under building coverage, as long as they are connected to a power source and installed in their functioning location:

	Sump pumps.
	Well water tanks and pumps, cisterns and the water in them.
	Oil tanks and the oil in them, natural gas tanks and the gas in them.
	Pumps and/or tanks used in conjunction with solar energy.
	Furnaces, hot water heaters, air conditioners, and heat pumps.
	Electrical junction and circuit breaker boxes, and required utility connections.
	Foundation elements.
	Stairways, staircases, elevators and dumbwaiters.
	Unpainted drywall and sheet rock walls and ceilings, including fiberglass insulation.
	Cleanup.

The Following items are covered under contents coverage:

	Clothes washers.
	Clothes dryers.
	Food Freezers and the food in them.

What Is Increased Cost of Compliance (ICC) Coverage?

Increased Cost of Compliance (ICC) under the NFIP provides for the payment of a claim to help pay for the cost to comply with State or community floodplain management laws or ordinances from a flood event in which a building has been declared substantially damaged or repetitively damaged. When an insured building is damaged by a flood and the State or community declares the building to be substantially damaged or repetitively damaged, ICC will help pay for the cost to elevate, flood proof, demolish or relocate the building up to $20,000. This coverage is in addition to the building coverage for the repair of actual physical damages from flood under the Standard Flood Insurance Policy (SFIP).

When Will My Policy Go Into Effect?

Unless your just purchasing your property, there is a 30-day waiting period before a flood insurance policy can become effective. There is not a waiting period on newly purchased homes. In most instances, the insurance producer who writes your policy can provide you with the date that your policy should go into effect.

	A general and temporary condition of partial or complete inundation of two or more acres of normally dry land area or of two or more properties (at least one of which is the policyholder's property) from: ---Overflow of inland or tidal waters; or ---Unusual and rapid accumulation or runoff of surface waters from any source; or ---Mudflow; or
	Collapse or subsidence of land along the shore of a lake or similar body of water as a result of erosion or undermining caused by waves or currents of water exceeding anticipated cyclical levels that result in a flood as defined above.