BATON ROUGE, La. — Flood-related disasters occur about every six years in Louisiana, so make sure your home and personal belongings are protected from flood damage. The National Flood Insurance Program (NFIP) provides content as well as structure coverage.
Many who purchase flood insurance forget coverage for contents. Annual premiums for contents insurance in moderate- and low- risk areas range from $48 to $226 to assist with flood loss up to $100,000 for contents depending on the type and amount of coverage.
Eligible items for contents coverage include personal items, like clothes and collectable artwork, furniture, and kitchen and portable appliances. Precious metals, currency, items stored outside the dwelling or items stored entirely in a basement are not eligible for contents-only coverage.
The average annual cost of flood insurance is about $700. Depending on the policy, insurance holders may receive up to $250,000 for home damage.
Policyholders may also qualify for additional assistance, called Increased Cost of Compliance (ICC), of up to $30,000 to elevate a substantially damaged home to meet local floodplain-management regulations for mitigation purposes.
NFIP policies offer coverage for flood damage that federal disaster assistance and most homeowners insurance policies do not cover. NFIP payments are not dependent on state or federal disaster declarations. New flood insurance policies go into effect 30 days after purchase.
More than 50 percent of structures flooded in August were located in low- and moderate- risk areas.
Properties account for more than 20 percent of the country’s NFIP claims and receive a third of flood-related federal disaster assistance.
Go to www.floodsmart.gov to learn more about any property’s flood risk, estimate an NFIP premium or locate an insurance agent who sells flood insurance.
Visit www.ready.gov/floods for flood information and safety tips.
