Flood insurance myths

There's a lot of wrong information out there about flood insurance. We want you to understand exactly what you're risking if you aren't properly covered.


Myths about flood insurance

  1. Myth: If my property is hit by a flood, disaster assistance will bail me out. 

    Truth: Maybe - as long as the President declares a disaster, which doesn't always happen.  But even if it does, federal assistance is usually a loan that you must pay back - in addition to your existing mortgage.

  2. Myth: My area has never flooded, so I've got history on my side.

    Truth: Conditions change.  Nearby construction can alter drainage patterns, and rainfall can exceed yearly averages.  In addition, nearby community drains can clog and quickly back up with water during heavy rains, causing localized flooding.  What's happened in the past is no guarantee of what will happen in the future. 

  3. Myth: If a flood is ever predicted, I'll just hurry to take out a policy.  

    Truth: Get flood insurance now, because you can't get it at the last minute.  Most NFIP policies take 30 days to go into effect, so it's important to act now as opposed to waiting until there's a threat. 

Information provided by agents.floodsmart.gov.