NFIP

What it means

The National Flood Insurance Program is a federal program, managed by FEMA, that offers flood insurance through insurance companies and agents. Homeowners policies generally exclude flood, so NFIP or private flood insurance is how most people insure against it.

The policy terms are federal regulations (44 CFR Part 61). Under the regular program, the maximum building coverage for a single-family home is $250,000 and residential contents coverage is $100,000. Increased Cost of Compliance coverage pays up to $30,000 to meet local floodplain rules after qualifying damage. New policies generally take effect 30 days after application and payment.

Why it matters to your claim

Flood claims follow strict federal rules. You must send a signed, sworn proof of loss within 60 days after the loss. The policy does not pay additional living expenses. It also excludes mold damage that results from conditions within your control, including failure to inspect and maintain the property after a flood recedes. Start drying and documenting right away. Check your flood policy’s declarations page for your limits and deductibles. Our flood cleanup guide covers what to do in the first days.