Flood Protection

Since standard homeowners insurance doesn’t cover flooding, it’s important to have protection from the floods associated with hurricanes, tropical storms, heavy rains and other conditions that impact the U.S.

In 1968, Congress created the National Flood Insurance Program (NFIP) to help provide a means for property owners to financially protect themselves. The NFIP offers flood insurance to homeowners, renters, and business owners if their community participates in the NFIP. Participating communities agree to adopt and enforce ordinances that meet or exceed FEMA requirements to reduce the risk of flooding. Find out more about the NFIP and how it can help you protect yourself.

Flood insurance protects two types of insurable property: building and contents. The first covers your building, the latter covers your possessions; neither covers the land they occupy.

Building coverage includes:

• The insured building and its foundation
• The electrical and plumbing system
• Central air conditioning equipment, furnaces, and water heaters
• Refrigerators, cooking stoves, and built-in appliances such as dishwashers
• Permanently installed carpeting over unfinished flooring

Contents coverage includes:

• Clothing, furniture, and electronic equipment
• Curtains
• Portable and window air conditioners
• Portable microwaves and dishwashers
• Carpeting that is not already included in property coverage
• Clothing washers and dryers

The two most common reimbursement methods for flood claims are : Replacement Cost Value (RCV) and Actual Cash Value (ACV). The RCV is the cost to replace damaged property. It is reimbursable to owners of single-family, primary residences insured to within 80% of the buildings replacement cost.

All other buildings and personal property (i.e. contents) are valued at ACV. The ACV is the RCV at the time of loss minus physical depreciation. Personal property is always valued using the ACV.

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Most homeowners insurance does not cover flood damage. Only flood insurance covers the cost of rebuilding after a flood.

You do not have to be in a flood zone to be able to purchase flood insurance.
Everyone qualifies.

Here are some links to learn more about Flood Insurance from FEMA and Floodsmart:

Protect your property from storm surge.

Protect your home from Flooding.

Protect your property from Coastal Erosion.

What Flood Insurance covers and does not cover.

Check to see if your community participates in the NFIP (National Flood Insurance Program):
MA: http://www.fema.gov/cis/MA.html
NH: http://www.fema.gov/cis/NH.html
RI: http://www.fema.gov/cis/RI.html

Visit the Flood Map Service Center to learn more about your address’ flood map.

Flood Zone Definitions:

Zone A

Areas with a 1% annual chance of flooding and a 26% chance of flooding over the life of a 30-year mortgage. Because detailed analyses are not performed for such areas; no depths or base flood elevations are shown within these zones.

Zone A1-30

These are known as numbered A Zones (e.g., A7 or A14). This is the base floodplain where the FIRM
shows a BFE (old format).

Zone A99

Areas with a 1% annual chance of flooding that will be protected by a Federal flood control system where construction has reached specified legal requirements. No depths or base flood elevations are shown within these zones.

Zone AE

The base floodplain where base flood elevations are provided. AE Zones are now used on new format FIRMs instead of A1-A30 Zones.

Zone AH

Areas with a 1% annual chance of shallow flooding, usually in the form of a pond, with an average depth ranging from 1 to 3 feet. These areas have a 26% chance of flooding over the life of a 30-year mortgage. Base flood elevations derived from detailed analyses are shown at selected intervals within these zones.

Zone AO

River or stream flood hazard areas, and areas with a 1% or greater chance of shallow flooding each year, usually in the form of sheet flow, with an average depth ranging from 1 to 3 feet. These areas have a 26% chance of flooding over the life of a 30-year mortgage. Average flood depths derived from detailed
analyses are shown within these zones.

Zone AR

Areas with a temporarily increased flood risk due to the building or restoration of a flood control system (such as a levee or a dam). Mandatory flood insurance purchase requirements will apply, but rates will not exceed the rates for unnumbered A zones if the structure is built or restored in compliance with Zone AR floodplain management regulations.

Zone B and X (Shaded)

Area of moderate flood hazard, usually the area between the limits of the 100- year and 500-year floods. B Zones are also used to designate base floodplains of lesser hazards, such as areas protected by levees from 100-year flood, or shallow flooding areas with average depths of less than one foot or drainage areas less than 1 square mile.

Zone C or X (Unshaded)

Area of minimal flood hazard, usually depicted on FIRMs as above the 500-year flood level. Zone C may have ponding and local drainage problems that don’t warrant a detailed study or designation as base floodplain. Zone X is the area determined to be outside the 500-year flood and protected by levee from
100- year flood.

Zone D

Areas with possible but undetermined flood hazards. No flood hazard analysis has been conducted.
Flood insurance rates are commensurate with the uncertainty of the flood risk.

Zone V

Coastal areas with a 1% or greater chance of flooding and an addiƟonal hazard associated with storm waves. These areas have a 26% chance of flooding over the life of a 30-year mortgage. No base flood elevations are shown within these zones.

Zone VE and V1-30

Coastal areas with a 1% or greater chance of flooding and an addiƟonal hazard associated with storm waves. These areas have a 26% chance of flooding over the life of a 30-year mortgage. Base flood elevations derived from detailed analyses are shown at selected intervals within these zones.

Contact MacDonald & Pangione Insurance to identify the best combination of coverage, value and price just for you.

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