Can anyone buy flood insurance?

Flooding is one of the most common and serious natural disasters that face Americans. In recent years, places have seen flooding for the very first time. Nowhere is safe from the ravages of flooding. If you are a homeowner, renter, or business owner, you may wonder if you can buy flood insurance?  Stated, almost everyone can benefit from flood insurance. At Anthony Lancaster Insurance Inc. in Memphis, TN, we are independent agents who offer personalized service to meet our customer’s needs. 

Flood insurance is a national program managed by FEMA (Federal Emergency Management Agency) and delivered directly through the NFIP (National Flood Insurance Program) or one of the 60 or so approved carriers. This is a great program that allows you to purchase protection from floods. It is sold in two parts, building and contents. You can purchase one piece or both, and it is up to you. 

Building coverage covers the physical home. Things like the roof, the foundation, the main systems such as electrical, plumbing, heating, and cooling. It also covers anything permanent in the home, like flooring, cabinets, built-in appliances, bathroom fixtures, and built-in furniture. Flood insurance does have limits and exclusions. The most flood building insurance that you can buy is $250,000. 

Contents flood insurance covers moveable things. It covers your furniture and your clothing. It covers your washer and dryer and small appliances in your kitchen. It will pay for your children’s toys and yours as well, depending on what they are. Your electronics are also covered. The most content coverage that you can buy is $100,000. 

If you are not eligible for NFIP insurance, it doesn’t mean that you can’t have flood insurance. Other options are available. 

Contact Anthony Lancaster Insurance Inc. in Memphis, TN for all your insurance needs.