If your home is in a designated Special Flood Hazard Area, your mortgage lender likely requires flood insurance. If not, you’re off the hook, right? Well, from being required to purchase flood insurance, yes. But from a flood? Don’t bet on it.

In the United States in 2024, there were 27 weather disaster events with losses exceeding $1 billion each, including one significant flooding event, 17 severe storms and four tropical cyclones.¹ About 90% of all U.S. natural disasters involve flooding, and the Federal Emergency Management Agency (FEMA) says just one inch of floodwater can cause as much as $25,000 in damage to a home.² Sounds to us like flood insurance is not only a good idea — it’s necessary to be fully protected.

Common questions about flood insurance

Does my homeowners insurance cover flood damage?
Most homeowners policies don’t include coverage for flood damage. Flood insurance is purchased separately.

Who qualifies for flood insurance?
Homeowners, renters and businesses in communities that participate in the National Flood Insurance Program qualify for flood insurance. Your community probably participates.

What does flood insurance cover?
Flood policies are comprehensive, covering your home, its foundation, electrical and plumbing systems, major appliances and carpeting and your personal possessions, such as clothing, furniture and electronics.

What impacts the cost of my flood insurance policy?

The insurance provider considers various factors when calculating your annual flood insurance premium, including, but not limited to:

• The type of coverage
• The flood risk (your flood zone)
• The design, location and age of your home
• The policy’s deductible

Is there a waiting period for coverage?
According to FEMA, a 30-day waiting period between the date you purchase coverage and the date your policy goes into effect is standard, with a few exceptions.² Learn more at floodsmart.gov.

Is flood insurance affordable?
Flood insurance can be affordable, especially when you select a higher deductible or live in a lower-risk area. The professionals at Quorum Insurance LLC can help you choose the appropriate coverage options to protect your property. Find out more about paying less for flood insurance.

Call 800.714.1447 for a free, no-obligation quote.

Quorum is an independent agency representing multiple flood insurance carriers, and its agents can find you the right policy at the right price. Flood insurance is coverage you can’t afford to be without. Call today or get a quote online.³

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