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Flood Facts

The following flood facts are provided by FEMA.

•Everyone lives in a flood zone - low, moderate or high.
•Most homeowners insurance does not cover flood damage.
•If you live in a Special Flood Hazard Area (SFHA) or high-risk area and have a Federally backed mortgage, your mortgage lender requires you to have flood insurance. (To find your flood risk, fill out the Flood Risk Profile.)
•Just an inch of water can cause costly damage to your property.
•Hurricanes, winter storms and snowmelt are common (but often overlooked) causes of flooding.
•New land development can increase flood risk, especially if the construction changes natural runoff paths.
•Federal disaster assistance is usually a loan that must be paid back with interest. For a $50,000 loan at 4% interest, your monthly payment would be around $240 a month ($2,880 a year) for 30 years. Compare that to a $100,000 flood insurance premium, which is about $400 a year ($33 a month).
•If you live in a moderate-to-low risk area and are eligible for the Preferred Risk Policy, your flood insurance premium may be as low as $129 a year, including coverage for your property's contents.
•You are eligible to purchase flood insurance as long as your community participates in the National Flood Insurance Program. Fargo is an NFIP partner.
•It takes 30 days after purchase for a policy to take effect, so it's important to buy insurance before the floodwaters start to rise.
•In a high-risk area, your home is more than twice as likely to be damaged by flood than by fire.
•Anyone can be financially vulnerable to floods. People outside of high-risk areas file over 20% of NFIP claims and receive one-third of disaster assistance for flooding.
•When your community participates in the Community Rating System (CRS), you can qualify for an insurance premium discount of up to 45%.
•Over 5.5 million people currently hold flood insurance policies in more than 21,000 communities across the U.S.
For more policy and claim statistics, visit the National Flood Insurance Program.

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Fact sheets

Preferred risk policy fact sheet (pdf)

Grandfathering fact sheet (pdf) 


Common Acronyms

Federal Emergency Management Agency

National Flood Insurance Program

Special Flood Hazard Area