FEMA National Flood Insurance Program
Flood damage occurs when water from a neighboring property or right-of-way crosses the property line, at the surface, and causes damage to structures and/or contents. This type of damage is not usually covered on homeowners or renters insurance. Congress has mandated federally regulated or insured lenders to require flood insurance on mortgaged properties that are located regulated Special Flood Hazard Areas (SFHA). However, your mortgage lender may still require you to have flood insurance if you are outside of these hazard areas.
Flood insurance is not just for individuals that live in the floodplain.
More than 20 percent of flood claims come from properties outside the high risk flood zone. Residents that live outside of the floodplain are known as Zone X, Zone B, or Zone C properties, and are typically eligible for lower rates of flood insurance. Renters policies start at less than $10 per month for $20,000 structural and $8,000 content coverage, and are available for property owners covering all the way up to $250,000 structural and $100,000 content coverage for around $40 per month. It is encouraged that all renters and owners in Springdale contact their preferred homeowner's insurance company and inquire about a quote. Note that new policies take at least 30 days for coverage to begin to get your home and/or contents covered for flooding.
Call your insurance company today or call 1-800-427-2419 or visit www.fema.gov/flood-insurance for more information. See the FloodSmart Preferred Risk Plan Brochure linked below now to see what policies will be available, including the price of those policies. Note that prices may have slightly changed in 2017, so feel free to request a 'Preferred Risk Plan' quote from your preferred insurance provider.