Many homeowners make the mistake of thinking that they will be covered for flood damage by their regular homeowners insurance coverage. This is not necessarily the case, even if insurance covers hurricanes and windstorms, as the majority of policies will not cover flood damage at all. Those that are required to have flood insurance and those that would like it may need to use the National Flood Insurance Program to buy a policy.
What is the National Flood Insurance Program?
The National Flood Insurance Program (NFIP) was established by Congress in 1968. Its aim is to make flood insurance accessible to members of communities that participate in the program.