Flood Insurance

Flood Insurance Coverage Options and State Requirements

Having a flood insurance coverage is very important because it can protect your property and possessions within it, in case of damage by floods. The National Flood Insurance Program (NFIP) is in charge of determining coverage and insurance premiums.

Jose L Hernandez Insurance Agency offers knowledgeable support on insurance policies. We are able to handle problem flood coverage cases and also have private flood insurance available in certain areas. Contact us today to know more.

Coverage Options

A flood insurance cover may help guard your home or business. Most policies have 3 kinds of coverage, which are discussed below:

• Building coverage: this cover protects the physical structure of your house, apartment, condo etc. or your non-residential property.
• Contents coverage: this insurance protects your possessions contained in your place of residence e.g., clothes, furniture, kitchenware etc.
• Replacement cost coverage: this cover reimburses you for the expense of replacing your property. It is only applicable to persons who own single-family prime residential places that are covered to within eighty percent of the full replacement price.

You should note that contents coverage and replacement cost coverage are not part of all flood policies. Talk to an insurance agent to know what is insured and what is not.

NFIP Requirements

• To be eligible for NFIP insurance coverage for non-residential property, FEMA needs an Elevation Certificate as well as a Flood-proofing Certificate filled in by a certified engineer.
• NFIP requires persons to acquire the elevation of the lowest areas, which includes the basement, of all the new or improved buildings, and hold a record of those details. An Elevation Certificate, which offers a way for them to showcase adherence with the set floodplain control guidelines.
• Non-residential and residential flood insured basements in areas that FEMA has exempted, a flood-proofing certificate is needed.
• Non-residential buildings may be given flood proofed up to or over the BFE (Base Flood Evaluation).
• Flood-proofing of residential structures is not allowed under the rules of the NFIP unless the community has been exempted by FEMA to have flood-proofed basements.

Jose L Hernandez Insurance Agency LLC offers knowledgeable support on insurance policies. Contact them today to know more.