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FEMA launches online flood insurance purchase tool on Floodsmart.gov
Property owners in almost 22,700 NFIP communities can now get a quote and buy a flood policy online, with no agent required.
This article is general information, not financial, investment or insurance advice. Check the details with a qualified adviser before you decide.
A policy in a matter of minutes
Anyone living in one of almost 22,700 participating NFIP communities can now buy a National Flood Insurance Program policy completely online through Floodsmart.gov. [1] FEMA has launched the tool, and it is accessible nationwide. [1]
FEMA Administrator Cameron Hamilton said the tool lets people get a quote and buy a flood insurance policy in a matter of minutes. [1] He also said he has seen firsthand how floodwaters devastate American communities. [1]
How the tool works
Users get a quote on Floodsmart.gov after providing basic information. [1] Homeowners can get a free quote after entering details such as address, foundation type, construction type, elevation, and location of HVAC systems. [2]
After getting a quote, users can purchase a policy online or through an insurance agent. [1] Customers can also take the quote to an agent. [2] The portal can provide contact information for three licensed insurance agents in the customer's state. [2]
Why FEMA built it
FEMA says the self-service digital purchase option helps reduce major barriers and makes flood insurance more accessible. [3] Hamilton said the tool demonstrates how FEMA is working to cut bureaucracy and deliver results to the American people. [3]
FEMA also launched a digital self-service tool that makes it easier for North Carolinians to financially prepare for floods. [3] Floods are the most common and expensive natural disaster in the United States, and flood insurance gives financial protection against these unexpected events. [3]
Coverage gaps and the program's future
Flood damage is not covered by standard homeowners and renters insurance policies. [2] Flood coverage is available from the NFIP, administered by FEMA, as well as from providers in the private insurance market. [2]
The GAO said many properties remain at risk because FEMA's flood zones do not account for all flood risks, such as from heavy rainfall. [2] A related headline reports that the National Flood Insurance Program's authority is set to expire in December. [2]
What it means for you
If you live in one of almost 22,700 participating NFIP communities, you can buy an NFIP policy online. [1] You get a quote after providing basic information, and you can then buy online or through an agent. [1]
If you have a federally backed mortgage and live in a designated flood zone, you are required to buy flood insurance. [2] Because standard homeowners and renters policies do not cover flood damage, a separate policy is the route to that protection. [2]
Sources
- FEMA launches new option for flood insurance — The Daily News
- FEMA Launches Online Purchasing for Flood Insurance Policies — Insurance Journal
- FEMA launches new online tool to buy flood insurance — Yahoo
Written from the sources above and checked twice before publishing. How we work · Report an error
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