Flood Insurance: The Essential Protection You Can't Afford to Ignore

The Flood Insurance Protection Gap

The flood insurance protection gap has been well documented. A recent Triple-I paper – Hurricane Season: More Than Just Wind and Water – states that “about 90 percent of all natural disasters in the United States involve flooding” and cites experts strenuously urging everyone to buy flood insurance.

Flood Insurance Coverage

Flood damage is excluded under standard homeowners and renters insurance policies. However, flood coverage is available as a separate policy from the National Flood Insurance Program (NFIP), administered by FEMA, and from a growing number of private insurers, thanks to sophisticated flood models that have made insurers more comfortable writing this once “untouchable” risk.

Invest in Resilience

If it seems as if you’ve heard me beat this drum before, you’re right. I take flood and flood insurance very personally. After Hurricane Irene flooded my inland New Jersey basement in August 2011, destroying many irreplaceable items, it was my flood insurance that enabled me to have a French drain and two powerful pumps installed that have since kept my historically damp basement bone dry – even during Superstorm Sandy the following year.