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3/28/2012 - FEMA tackles more flood insurance myths

Some mistakenly assume they can only buy flood insurance if they are near water.

The National Flood Insurance Program helps consumers get back on their feet after experiencing a flood. However, due to misperceptions about the NFIP, some people may be omitting a flood insurance policy.

To help set the record straight, the Federal Emergency Management Agency recently shed light on some of the most glaring myths regarding flood insurance.

One of these myths is the belief that because they are in a high-risk flood area, they are unable to buy a policy. FEMA indicates that anyone can buy a policy no matter where they live or how at risk they are for flooding, provided their community participates in the NFIP.

With many people renting as opposed to buying homes these days, renters may think they are precluded from flood insurance. In fact, renters can gain coverage for their properties too, as FEMA indicates an NFIP policy generally provides $100,000 of coverage for contents.

Another myth is the suggestion that after experiencing a flood, homeowners or renters are no longer eligible to receive coverage. FEMA says this, too, is not true, as eligibility applies to everyone.

For more myths and facts about flood insurance, click here.

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