PHILADELPHIA – Did you know that you don’t have to live in a floodplain to flood? In fact, about 40% of National Flood Insurance Program (NFIP) flood insurance claims come from outside of high-risk flood zones. Floods can happen anytime, and most property insurance policies don’t cover flood damage. That’s why the Federal Emergency Management Agency (FEMA) Region 3 officials are encouraging residents to learn more about flood insurance this month and get a quote from their insurance provider.

There are many misconceptions residents and business owners may have about flood insurance and the NFIP, including whether they can get it, when they can buy it and how much it costs.

Here are some of the most common myths and facts about the National Flood Insurance Program.  

Myth: Homeowners insurance policies cover flooding.

Fact: Most standard homeowners insurance policies do not cover flood damage. Unfortunately, many homeowners learn they are not covered when it is too late. Talk to an insurance agent about your coverage.

Myth: I cannot buy flood insurance.

Fact: You can buy federal flood insurance no matter where you live if your community participates in the National Flood Insurance Program. You do not have to live in the floodplain to get flood insurance.

Myth: Flood insurance is available only for homeowners.

Fact: Renters, business owners and condominium owners can get flood insurance coverage too.

Myth: Only residents of high-risk flood zones need to insure their properties.

Fact: As stated above, more than 40% of NFIP claims come from outside high-risk flood zones.  Flooding has many causes, and it can occur in areas of moderate or minimal flood risk. Anywhere it can rain, it can flood. You don’t have to live in a FEMA flood zone to be eligible for flood insurance.

Myth: The NFIP does not offer any type of basement coverage.

Fact: Yes, it does. The NFIP defines a basement as any area of a building with a floor that is below the ground level on all sides. Basement coverage under an NFIP policy includes cleanup expenses and items used to service the building such as elevators, furnaces, hot water heaters, washers and dryers, air conditioners, freezers, utility connections, circuit breaker boxes, pumps, and tanks used in solar energy systems. The policy also covers the most important element of your home: your foundation.

Myth: Flood insurance is too expensive.

Fact: Your home is your most important investment.  Flood insurance is the best protection against the unpredictable and significant financial losses a flooding event can cause. Just one inch of floodwater in a home can cause more than $25,000 in damages. Having flood insurance will help you begin to repair and replace damaged property within days.

You can read about other common misconceptions here.

“It takes just minutes to get a flood insurance quote from an insurance provider,” said FEMA Region 3 Regional Administrator MaryAnn Tierney. “While we cannot control the storms that come our way, we can prepare so that we are ready when they do hit. One of the most important and proactive things you can do to help you recover from a flood is make sure your home or property is covered with flood insurance.”

In FEMA Region 3, there are over 230,000 NFIP policies. To get a quote, you can search for insurance providers with the NFIP insurance provider online locator tool. From there, providers will be able to write a policy based on an individual’s property characteristics, including the frequency of flooding,  height of your structure, how far you are from a water source, and the cost to rebuild,

For more information on the National Flood Insurance Program (NFIP) visit floodsmart.gov.