How to Tell If a Home Requires Flood Insurance
The United States government requires homeowners in high-risk flood areas to purchase flood insurance if they have a federally backed mortgage and live in a community participating in the National Flood Insurance Program (NFIP). The Federal Emergency Management Agency (FEMA) conducts flood risk assessments, then maps the results for easy communication of flood risk. The NFIP offers coverage and premiums based upon the risk determination, i.e. the flood zone in which the property resides.
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Instructions
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Go to NFIP's online flood-risk tool (see Resource).
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Enter your full street address, city, state, zip code and whether it's a residential or commercial property, then submit the form.
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Look up the zone the property resides in on the corresponding list of zones at FEMA (see References). If your property lies within a high- or coastal high-risk flood zone, your home requires flood insurance. If it lies within any other zone, flood insurance is optional.
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Tips & Warnings
You also can look up your property manually on the flood map at your city's planning office to determine if your property is in a flood zone.
Purchase a flood insurance policy from NFIP or a private insurer if your home lies within a high- or coastal high-risk flood zone. Homes in these zones have at least a 1 percent chance of flooding each year and a 26 percent chance during the life of a 30-year mortgage.
