When people think of home insurance, they often assume it covers all types of damage—including floods. Unfortunately, that’s not the case.
Flood damage is not covered by standard home insurance policies. That means if your home is damaged by rising water from a storm, river overflow, or rapid snowmelt, you could be left paying for repairs out of pocket unless you have a separate flood insurance policy.
What Is Flood Insurance?
Flood insurance is a specialized type of coverage that protects your home and personal belongings from damage caused by flooding. This includes water entering your home from outside due to heavy rain, storm surge, overflowing rivers, or blocked storm drains.
Without flood insurance, the cost of repairs and replacing personal property can quickly add up. Just one inch of water in your home can cause thousands of dollars in damage.
Where Can You Buy Flood Insurance?
Flood insurance is available through a couple of different options:
1. National Flood Insurance Program (NFIP)
This is the most common source of flood insurance and is backed by FEMA (Federal Emergency Management Agency). NFIP policies are available through many insurance agencies, including ours. The coverage limits are:
- Up to $250,000 for the structure of your home
- Up to $100,000 for your personal belongings
These policies have set pricing based on your location and flood zone.
2. Private Flood Insurance
Some private insurance companies also offer flood insurance outside of the NFIP. Private flood policies can often provide:
- Higher coverage limits
- Additional features, such as loss of use coverage or basement contents
- Faster underwriting and policy customization
Not all homes qualify for private flood insurance, but it’s an option worth exploring—especially if you need more coverage than the NFIP offers.
Do You Need Flood Insurance?
If you live in a high-risk flood zone, your mortgage company may require you to carry flood insurance. But even if you’re in a low- or moderate-risk area, flooding can still happen. According to FEMA, more than 20% of flood claims come from properties outside of high-risk flood zones.
Flood insurance gives you peace of mind and financial protection from one of the most common—and costly—natural disasters.
We’re Here to Help
At Ameriguard Insurance, we help homeowners in Minnesota understand their flood risk and choose the right coverage—whether through the NFIP or private options. If you’re unsure whether you need flood insurance or want a quote, contact us today. We’re happy to walk you through your options and find the right fit for your home.