Frequently Asked Questions (FAQ)

How much flood insurance am I required to carry?

Under Federal law, the minimum flood insurance coverage that you must carry is the lesser of:

(a) The outstanding principal loan balance for your property. For example, if you carry a $150,000 mortgage on your home, you must purchase a flood insurance policy that insures your home for $150,000; or

(b) The maximum amount of flood insurance coverage that is available through the National Flood Insurance Program. Currently, this amount is $250,000 for residential and $500,000 for nonresidential properties. As an example, if you have a $300,000 mortgage on your home, you can satisfy the federal flood insurance requirement by purchasing a policy that provides you with $250,000 in flood insurance protection.