The National Flood Insurance Program defines a flood as: A general and temporary condition of partial or complete inundation of two or more acres of normally dry land area or of two or more properties (at least one of which is your property) from:
- Overflow of inland or tidal waters
- Unusual and rapid accumulation or runoff of surface waters from any source
- Mudflow, a river of liquid and flowing mud on the surfaces of normally dry land areas, as when earth is carried by a current of water
- Collapse or subsidence of land along the shore of a lake or similar body of water as a result of erosion or undermining caused by waves or currents of water exceeding anticipated cyclical levels that result in a flood as defined above
The National Flood Insurance Program (NFIP) was established by the federal government to help communities who “voluntarily participate in the NFIP by adopting and enforcing floodplain management ordinances to reduce future flood damage.” Different types of flood insurance policies are available based on your property’s location in Connecticut and its flood history.
Standard Flood Insurance Policies
If you live in a community that participates in the NFIP, your building and its contents can be covered by a standard flood insurance policy. To be considered a flood, the waters must cover at least two acres or affect at least two properties. You must apply for building coverage and contents coverage separately if you choose to invest in a standard flood insurance policy.
Preferred Risk Flood Insurance Policies
If your Connecticut home or business is in a low-or-moderate risk zone, your building may qualify for a low-cost preferred risk policy. While you are not required to purchase flood insurance in low-to-moderate risk areas, a preferred risk insurance policy will protect your home and its contents if you are affected by a small flood, or a larger flood that has extended into your low-risk area. In Connecticut, many flood insurance claims occur in low-to-moderate risk areas.
Unless you add an endorsement for an additional premium, earthquake insurance coverage is not generally provided under your home insurance policy. Coverage is available, however, if you would like to add this coverage to your Connecticut home insurance policy.
Don’t wait until it’s too late. Contact Olde Liberty Insurance today for a comprehensive insurance review and a no-obligation flood or earthquake insurance quote. We can get you the flood and earthquake protection you might need.