There is a low-cost policy for homes in moderate-to-lower risk areas, and for much less than you might expect. The quick processing of these lower risk/low cost policies is the purpose of this website, so lets get started. Click here to get a quote.
Overflows from sewer systems or sump pumps are not considered a flood unless a flood has caused the backup and overflow.
Flood insurance is required by law for some high risk homes but only a minority of homes fall under this category. Congress passed some laws requiring that all federally-insured or regulated lenders, for instance mortgages backed by Fannie Mae or Freddie Mac require flood insurance to protect their investment in the property.
25% of homes with flood claims each year are in low risk zones.
Private insurance companies and the federal government recognized that their association would improve the overall success of the program. Accordingly, insurance companies administer the program, but the federal government funds the insurance.