Getting Flood Insurance in Idaho

Those in the Midwest are familiar with flooding. The aftermath of Hurricane Florence has left many parts of the South reeling and Idahoans know this all too well as we were affected by spring floods last year that did not discriminate between coastal cities, mountain towns or valley communities leaving homes damaged and people scrambling for help after their standard home insurance policies didn’t cover flood damage which is very common when it comes to natural disasters.

What is flood?

The NFIP defines a food as water on land that usually doesn’t have water. If there is too much, it can affect two or more acres of land or two or more properties. This only happens if the water overflows from inland waters, tidal waters, sudden runoff of surface water. Mudflows and erosion may also happen if an overfow of the body of water happens.

Deputy Chief Brad Richy said that flooding has produced some of the worst disasters in Idaho with significant events occurring regularly throughout the history of our state. He urged citizens to buy flood insurance as soon as possible because there is a 30-day waiting period before it takes effect after you sign up, even if you have not been affected by any recent floods yet.

Gary Salisbury, president of Boise Regional REALTORS®, says that flood insurance is critical for our economy and the national economy. The NFIP offers homeowners in Idaho a way to purchase flood insurance – about 30% of all contracts written here require it– so protection from floods remains accessible.

How the NFIP helps Idahoans get flood insurance?

Drowning in a flood is an expensive disaster. Flood insurance helps protect your home, business, or property from the high cost of rebuilding and repairing after flooding damage to buildings and their contents occur. With more than 23000 communities across 56 states participating in this affordable protection program, it’s time for you to join too!

It may seem to be common sense, but many homeowners don’t realize that their homeowner’s insurance doesn’t cover flood damage. The National Flood Insurance Program offers federally backed insurance for property owners in communities throughout Idaho who participate in the program, and have agreed to adopt or enforce ordinances that meet FEMA minimum building requirements in Special Flood Hazard Areas (SFHA). There is no need for your home to be located within a high risk zone if you’re participating- it can happen anywhere!

Purchasing a flood insurance policy is often smart, even for those not in high-risk areas. More than 25% of claims paid are from regions at medium or low risk of flooding. In fact, out there 824 new policies just 52 were located within Special Flood Hazard Areas! Overflowing rivers and flash floods are the two main causes of flooding here in Idaho.

A little damage and return

Just five inches of water in a home can cause over $11,000 worth of damage to your property. Flood insurance is an inexpensive way to protect against that possibility and the cost may be tax deductible as well!

Not expensive

Flood insurance is inexpensive and can be purchased to protect your home, business, car or other personal belongings. Policies are available for homes up to $250k in coverage and businesses/non-residential buildings up to $500k in flood damage protection. Contents of a residence may be insured against flooding with an average annual premium less than the cost of one fast food meal per day ($720).

Where to buy flood insurance in Idaho?

The insurance you need for your home is available to Idahoans everywhere – even if disaster strikes. FEMA administers the NFIP, but claims are paid regardless of whether a disaster is declared. Policies are sold through private agents and insurers throughout our state so that everyone can be protected from devastation no matter where they live or work in Idaho!

If your community does not participate in the NFIP, then you can make a request for it to do so through your city council or county commissioner’s office.

How much coverage can be purchased under the SFIP? 

The chart below details the maximums for both residential and non-residential coverage available through the NFIP.

Coverage TypeResidentialNon-Residential/Business
Coverage typeResidentialNon-residential/business
Structure$250,000$500,000
Contents$100,000$500,000

Flood insurance is important for people in Idaho who live near rivers, lakes and other bodies of water. While flood damage can be devastating to homes and businesses alike, the good news is that it’s not difficult to purchase coverage under the National Flood Insurance Program (NFIP) if you are an Idahoan. The SFIP offers a variety of plans with different levels of protection so homeowners have options based on their level or risk tolerance; some homeowners may only need minimal coverage while others might want more protection against catastrophic damages due to flooding. I hope this blog post has been helpful!

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