Flood Insurance

Flood-related damage can be expensive — that’s why flood insurance is important. Flood insurance is required for any home located in a Special Flood Hazard Area. The Federal Emergency Management Agency (FEMA) determines where the Special Flood Hazard Areas are. Then, we find out if your property is in one. If it is, we’ll let you know so you can purchase a flood insurance policy. If your house isn’t in a Special Flood Hazard Area and you want to get flood insurance anyways, you can buy it through your insurance provider.

Coverage requirements

Your flood insurance coverage has to be at least equal to the lowest of these options:

• 100% of the estimated replacement cost value for your property
• Combined outstanding balance of all loans and maximum line of credit limits
• The maximum amount of coverage available under the National Flood Insurance Program (currently $250,000.00 for residential buildings)

Keep in mind that there are pros and cons to only getting the minimum amount of insurance required. If you only have the minimum amount required, it may not be enough to pay for all of the needed repairs after a flood. Be sure to discuss your flood insurance needs with your insurance company.

Paying for flood insurance

If you’re required to have flood insurance, we’ll add the cost to your monthly mortgage payment. We’ll keep it in an escrow account until your flood insurance bills are due. Then we’ll use that money to pay the bills on your behalf.

If you're not required to have flood insurance and you purchased flood insurance voluntarily, you’ll make the payments to your insurance company.

Filing a claim

Start by contacting your insurance company. Learn more about insurance claims and repairing your property. 

Additional resources

For more information about flood insurance or to confirm you’re in a Special Flood Hazard Area, contact FEMA or FloodSmart.