|
One of the best protection measures for a
building with a flood problem is National Flood Insurance, which is
purchased through any property insurance agent. If the building is
located in a floodplain, most mortgage lenders will require flood
insurance. Be sure to include the cost of a policy in your mortgage and
financial planning. Regardless of where your property is located in the
City, you are eligible for flood insurance.
Every year
flooding causes hundreds of millions of dollars worth of
damage to homes and businesses in the United States. Standard
homeowners and commercial property insurance policies do not cover
flood losses. To meet the need for this vital coverage, the Federal
Emergency Management Agency (FEMA) administers the National Flood
Insurance Program (NFIP).
|