![]() Homes and businesses located in moderate-to-low risk areas that have mortgages from federally regulated or insured lenders are typically not required to have flood insurance. If you’re not sure which area your property is in, take your Risk Profile to learn more. For these reasons, flood insurance is required by law for buildings in high-risk flood areas as a condition of receiving a mortgage from a federally regulated or insured lender. In high-risk areas, there is at least a 1 in 4 chance of flooding during a 30-year mortgage. Most policies have a 30-day waiting period, so plan accordingly if you are looking to purchase flood insurance. It’s important to note that flood insurance does not go into effect immediately. If you are only buying building coverage, be sure to ask if the appliances are covered under that policy. Appliances could fall into the building coverage or they could be considered personal property. Things that are permanently fastened to the house such as light fixtures, carpets and cabinets are considered part of the building. NFIP policies typically cover the building itself, but, for an additional premium, you can buy coverage for the contents. Click here to find a flood insurance provider. These rates depend on many factors, including the date and type of construction of your home, your building’s level of flood risk and how many feet are you above the flood zone. Rates are set nationally and do not differ from company to company or agent to agent. ![]() NFIP flood insurance is purchased through private insurance agents. If your community does not participate, you can find coverage through surplus lines markets. Click here to find out if your community participates. In order to qualify for NFIP coverage, the home or business must be in a community that has joined the NFIP and agreed to enforce sound floodplain management standards. Protection is available through the National Flood Insurance Program (NFIP). To learn more about the National Flood Insurance Program ( NFIP), visit the Floodsmart website.Flood damage is not covered by a standard homeowners policy. Information regarding the National Flood Insurance Program, is available though the Federal Emergency Management Agency ( FEMA) and local governments participating in that program. Additional Informationįor more information on flood insurance please call NFIP assistance at 87. You may complete the " Flood Zone Information Request Form (PDF) " and submit it to the Placer County Floodplain Manager, as instructed on the form. If you have learned that you are required to obtain flood insurance, or if you are not sure if your property is located in a FEMA-designated Special Flood Hazard Area, you may request a written determination. It is up to the lender to determine whether flood insurance is required for a property. Regulationsįederal Law requires that a Flood Insurance Policy be obtained as a condition of a federally backed mortgage or loan that is secured by the structure. Contact your insurance agent for more information on rates and coverage. There is a 30 day waiting period before National Flood Insurance coverage takes effect. Don’t wait for the next flood to buy insurance protection. Because Placer County participates in the National Flood Insurance Program, you can purchase a separate flood insurance policy. ![]() You should consider obtaining flood insurance, even if it hasn’t been required by your mortgage lender. Homeowner's insurance policies do not cover damage from floods. If your property is located within one of the County’s incorporated cities, you should contact that jurisdiction for information on their participation in the NFIP. By implementing floodplain management activities, residents of Placer County’s unincorporated areas qualify for a flood insurance premium rate reductions. Placer County participates in the NFIP, thereby providing homeowners, renters, and business owners in our community with access to federally-backed flood insurance.
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