Flood Insurance

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Flood Insurance

The city participates in the National Flood Insurance Program (NFIP). Participation in the program requires the city establish certain floodplain management standards. In turn for the city's voluntary participation the federal government makes flood insurance available to property owners within the city as financial protection against flood losses.

In addition to participating in the NFIP, the city also participates in the Community Rating System (CRS). The CRS is a voluntary incentive program that recognizes and encourages activities that exceed the minimum NFIP requirements. The city's participation in this program allows property owners in the floodplains to receive a 15% reduction in their flood insurance premiums. As part of this program, the City does annual outreach projects to floodplain residents and the community (floodplain protection information) as well as to insurance agents, real estate agents and lenders.

If you do not have flood insurance you should talk to your insurance agent. The city's participation in the National Flood Insurance Program (NFIP) allows you to purchase a separate flood insurance policy that is specifically designed to cover flood damage.

Flood insurance is available to everyone. Properties not located in a Special Flood Hazard Area (SFHA)or 100-year flood plain, being those with a low to moderate risk of flooding, may purchase a Preferred Risk Policy (PRP). A PRP is available to homeowners, residential renters, commercial building owners and lessees.

Refer to our "How do I find out if a Property is in a Flood Hazard Area?" on the website to find out if a property is located in a SFHA.

Flood Insurance Required by Mortgage Agreement. Flood insurance may be required by a lending institution as a condition of a mortgage agreement. Usually the lender required policy only covers the structure and not the contents.

Federally Funded Property and Property Rehabilitation. Flood insurance is required as a conditions of receipt of federal or federally related financial assistance for acquisition and/or construction (including rehab) of buildings in Special Flood Hazard Areas (SFHA).

Sewer Back-ups and Sump Pump Failure. Sewer back-up and sump pump failure may be covered as a rider to your home-owners policy. Contact your insurance agent for more information. Under some conditions you may also be eligible to recover costs of flooding due to sewer back from the city. Use this link for more information.

Important Things to Keep In Mind About Flood Insurance

Flood insurance coverage is available only on a one year, prepaid basis.
There is a 30 day waiting period from the time of application to the issuance of the policy so do not wait until a flood is imminent.
Even if the last flood missed you or you have done some flood proofing, the next flood could be worse.
Can flood insurance help me protect my property from future floods? If you have experienced flooding and you hold flood insurance, the Increased Cost of Compliance (ICC) portion of your flood insurance policy is there to assist in flood proofing measures such as elevating your home or relocating out of the flood plain. Contact your insurance provider for more information.

Flood insurance may be purchased to cover both the building's structure and allowable contents.

Note there are some limitations on coverage. Specifically, not all basement contents are covered by flood insurance. Check this video out to learn more about basement content coverage. https://www.youtube.com/watch?v=4uUI4TiFmms

Talk to a flood insurance agent.

The property owner's flood insurance will not cover the cost of a renter's allowable contents at the property. Renters can purchase flood insurance to cover allowable contents of the property where they rent.

FEMA F-084 publication, Answers to Questions About the NFIP
For more information on flood insurance, to find an insurance carrier and other flood mitigation, response and recovery information, visit www.floodsmart.gov.
The following is a link to a video produced by FEMA covering why some properties are required to have flood insurance. https://www.youtube.com/watch?v=TxnU2AVdYFk
The following is a link to a video overview of why flood insurance is important and what the City's role is when it comes to flood insurance. https://www.youtube.com/watch?v=YkSDSCdua44.
The following is a link to a video series created by the Iowa State University's Extension and Outreach Program that walks through flood insurance. https://www.extension.iastate.edu/floodinginiowa/content/flood-insurance-videos-19-21.