In Sacramento County, nearly 20 percent of flood insurance claims come from moderate to low-risk areas. You can still obtain flood insurance if your home or business is removed from the mapped floodplain .
Flood insurance is required if your property is in a designated high-risk flood zone and receive a mortgage loan from a federally regulated or insured lender. If you do not have a mortgage, it is still recommended that a property owner buy flood insurance. Over the life of a 30-year loan, there is about a 3 times greater chance of having a flood in your home than having a fire. Most homeowner’s insurance policies do not provide coverage for damage due to flooding.
There is a 30 day waiting period on new flood insurance policies.
Zone X properties can purchase flood insurance. Most homeowners in a moderate- to low-risk area might be eligible for coverage at a preferred rate. Preferred Risk Policy premiums are the lowest premiums available through the National Flood Insurance Program (NFIP), offering building and contents coverage for one low price. If you don't qualify for a Preferred Risk Policy, a standard rated policy is still available. Even though flood insurance isn't federally required, anyone can be financially vulnerable to floods.
FEMA Letters: Flood Risk and Policy Options. Important information to help NFIP policyholders, insurance agents and others understand letters all NFIP policyholders will be receiving each year, starting in January 2017 is available at https://www.fema.gov/cost-of-flood.
Policyholders will receive the letters as notification that a review of their property's flood risk has been done. There will be an explanation of what was found and how the flood risk will impact what they pay for flood insurance. For some, having an Elevation Certificate (EC) may lead to lower flood insurance costs immediately or in the future.
Contact your insurance company or agent to discuss your policy options.
The Private Insurance Option
There is an alternative to the federally backed option. Learn more about private flood insurance versus NFIP.
Frequently Asked Questions About Flood Insurance