Flood insurance

 Flood insurance is a type of property insurance that covers a dwelling for losses sustained by water damage specifically due to flooding. Floods may be caused by heavy or prolonged rain, melting snow, coastal storm surges, blocked storm drainage systems, or levee dam failure.

A type of catastrophe insurance, a flood insurance policy is different than the basic hazard insurance coverage contained in a homeowners insurance policy. Flood insurance policies are available for all homes and commercial properties. Flood insurance is a separate policy that can cover buildings, the contents in a building, or both, so it is important to protect your most important financial assets — your home, your possessions, your business and your commercial properties.

The National Flood Insurance Program (NFIP), managed by the Federal Emergency Management Agency (FEMA), offers flood insurance to homeowners in participating communities and those in the NFIP-designated floodplains. The actual insurance policies are issued by private insurance companies, not by the NFIP or FEMA.

This type of insurance is essential for businesses of all sizes and industries to protect their valuable assets and ensure their continued operations in the event of flooding.