Insurance
Insurance Fact Sheets
The National Flood Insurance Program (NFIP)
The NFIP is a national program established in 1968 and managed by the Federal Emergency Management Agency (FEMA). It was put in place to reduce the financial risk of flooding to homeowners, renters, and businesses. Through its community programs the NFIP also encourages responsible floodplain management practices. The NFIP’s key functions include providing flood insurance, mapping flood risk areas, and assisting local communities with mitigation efforts. Coverage through the NFIP is not automatic and requires local governments to opt in and adopt minimum floodplain management rules.
Flood Insurance for Homeowners
Flood insurance and standard homeowners insurance are separate insurance policies. Flood insurance covers structural damage and personal belongings in the event of flood damage. Standard homeowners insurance provides your home coverage from a number of dangers such as fire, theft, wind, and hail. Homeowners may purchase an insurance policy through the National Flood Insurance Program (NFIP). If your property floods and you do not have flood insurance, then your contents are not covered.
Flood Insurance for Renters
Due to the frequency of tropical and named storms in parts of Louisiana, it is crucial for renters to consider purchasing flood insurance. Flood insurance for renters is a separate insurance policy from renters insurance and covers personal belongings in the event of flood damage. The National Flood Insurance Program (NFIP) offers such policies to renters. If the property you are renting floods and you do not have flood insurance, then your contents are not covered.