Flood Insurance

In the life of a 30-year mortgage, there is a 26% chance of flooding. Regardless of your location to flood zones, everyone in Bevil Oaks is encouraged to purchase flood insurance. Basic homeowner’s insurance policies do not cover damage from floods. The city participates in the National Flood Insurance Program, which means that federally subsidized flood insurance is available to everyone in the city. Remember, there is a 30-day waiting period before the policy becomes effective. Some people have purchased flood insurance because it was required by the bank or loan company when they obtained a mortgage or home improvement loan. Usually these policies just cover the building’s structure and not the contents; however, policies are also available to cover contents. Remember that a flood insurance policy must be renewed every year. Visit Floodsmart: The Official Site of the National Flood Insurance Program for more details on flood insurance including types of policies, coverage options, and other useful information. The following FEMA publications may also provide more information:

· Things You Should Know about Flood Insurance 

· Summary of Coverage 

· Understanding Your Flood Insurance Policy 

· Cheaper Flood Insurance:  5 Ways to Lower the Cost of Your Flood   Insurance Premium 

· Mandatory Purchase of Flood Insurance Guidelines 

· Flood Insurance Claims Handbook 

· Filing Your Flood Insurance Claim 

· Appealing Your Flood Insurance Claim 

· Answers to Questions about the National Flood Insurance Program