Flood Zones and Insurance
Your homeowner or renter's insurance policy may not cover losses due to flooding
Most homeowners insurance does not cover flood damage from heavy rain, snow melt or sewer backups. If the house you live in has plumbing fixtures or floor drains below ground level, the basement could flood.
If your home is in a Federal Emergency Management Agency (FEMA) designated flood zone, your mortgage lender will require flood insurance. If your home has flooded in the past and you feel your home might flood again, even if you do not live in a designated flood zone, consider getting flood insurance. Insurance policies may require a 30-day waiting period before becoming effective, so check with your insurance agent.
FEMA designated flood zones are adjacent to water bodies where water can overflow its banks following heavy rainfall.
See the FEMA Flood Map Service Center for information about flood zone maps.
National Flood Insurance Program
The City of Minneapolis participates in the National Flood Insurance Program (NFIP), which means all residents are eligible to purchase flood insurance.
Most insurance companies offer flood insurance policies, but the cost of flood insurance can vary, depending on what FEMA designated flood zone you live in. Coverage for household contents is separate, meaning renters can also purchase flood insurance.
Federal Disaster Areas
To be eligible for federal assistance under the Disaster Relief and Emergency Assistance Act, the President of the United States needs to declare the area a Federal Disaster Area. Things to be of:
- Less than half of all flooding incidents result in a Presidential declared disaster.
- Persons in a Federal Disaster Area are eligible for low cost loans (not grants).
- Annual flood insurance premiums are less than the interest on a Federal disaster loan.
- Top 10 Facts Every Consumer needs to know about the NFIP. This FEMA publication lists important facts about the benefits of having flood insurance for your home.
- FloodSmart.gov helps you learn about flood risk and taking steps to financially protect homes and businesses from flood damage.
- Disaster Assistance and Emergency Relief for Individuals and Businesses. This resource from the IRS provides information about getting financial help if you have damaged or lost property in a designated Federal disaster area.
Disclaimer: The information on this page is merely a summary of flood insurance information. For more information, contact your insurance agent.
Last updated Feb 11, 2019