3 Facts about Flood Insurance

Why “I’m Not in a Flood Zone” Is a Risky Gamble

Most property owners believe that if they aren’t on the coast or near a river, they don’t need flood insurance. In fact, many assume their standard homeowners or business policy covers water damage.

The truth? Standard insurance almost never covers flood damage. And with 90% of natural disasters involving flooding, the risk is higher than you might think.

The $25,000 Inch
According to the National Flood Insurance Program (NFIP), just one inch of floodwater can cause up to $25,000 in damage. Whether it’s a broken water main, rapid snowmelt (a common sight here in Maine!), or a flash rain that has nowhere to go, “flooding” can happen anywhere.

3 Facts Every Property Owner Should Know:

1. High-Risk Areas Aren’t the Only Risk: Over 40% of all NFIP claims come from policyholders in moderate-to-low-risk zones.
2. Disaster Assistance is Not a Safety Net: Federal aid is only available if a disaster is formally declared by the President—which happens in less than half of all floods. Even then, that “aid” is often a loan you have to pay back with interest.
3. There is a Waiting Period: You can’t buy a policy while the clouds are darkening. The NFIP typically has a 30-day waiting period before coverage takes effect.

What Does it Actually Cover?
You can choose Building Coverage, Contents Coverage, or both.

• Building: Covers the structure, foundation, plumbing/electrical systems, and built-in appliances.
• Contents: Covers personal belongings like clothes, electronics, and furniture (this is a must-have for renters!).

Don’t Wait for the Water to Rise
Flood maps are constantly changing due to new construction and shifting weather patterns. If you haven’t checked your risk lately, now is the time. Property owners in low-risk zones are often eligible for lower-cost policies, making it an affordable way to protect your biggest investment.
Questions about your specific zone? Our team at Downeast Insurance can help you navigate the maps and find the right policy.

👉 Get a Flood Insurance Quote from Downeast Insurance Today.