Flood: Understanding The Risk, Navigating Insurance Options

Misperceptions about flood risk have kept many people from buying protection from the National Flood Insurance Program (NFIP) or the private insurance market. Better understanding of flood exposures, the potential risks, and their impact can help businesses and individuals make informed decisions. It’s important to remember that floods have multiple causes. They occur frequently, in almost every area of the United States, and they generate significant losses. Individuals and businesses need to consider their coverage decisions carefully, including their exposure, the appropriate limits, comfort with deductibles, and all details of policy wording. Recovery after a flood may depend on it.