Frequently Asked Questions
Commonly Asked Questions About Flood Insurance
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Since opening our doors in 2010, our goal has been to not only provide the best flood insurance options, but also be the industry-leading expert to you, our customer, on what flood insurance is, why it is needed, and answer the most frequently asked questions about flood insurance in Georgia.
If you have another question we didn't address or
are looking for a free flood quote, contact us.
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Is flood insurance
expensive in Georgia?
The average flood insurance premium in Georgia is under $500 a year. Your exact premium is determined by factors such as where you live, the amount of coverage you choose, the age and value of your home, elevation and structure of your home, and the deductible. Due to recent flood insurance reform, this amount may not reflect current flood insurance costs for some areas.
Our agents can quickly help you find out how much your premium will be, which discounts you might qualify for and if there are any special siuations with your property or business that may affect
flood insurance coverage.
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Do I need flood insurance for
home or business
Flood insurance is not required for every home
and business in Georgia.
However, with about 20% of flood insurance claims coming from a moderate- to low-risk areas, we strongly encourage you to carry flood insurance even if flood insurance is not required for your property. Ask one of our agents
if you qualify
for the Preferred Risk Policy (a lower-cost flood insurance policy) that provides building plus contents coverage for only a few hundred dollars a year or less.
Why is my mortgage lender requiring
flood insurance be purchased
for my home?
If your mortgage is from a federally regulated bank, it is mandatory in high-risk flood areas to carry flood insurance. While flood insurance is not federally required for properties in moderate- to low-risk flood areas (or if you own your home outright), your lender may still require you to have flood insurance. Considering Georgia is prone to flooding, it is strongly recommended that all homeowners have flood insurance due to the amount of claims made
low- to moderate-risk zones.
Can I buy flood insurance online
for my home?
Yes and no.
Georgia Flood Insurance offers a quick (less than 15 minutes) online quoting process where you can obtain a free online quote with just a few answers to some basic questions about the property, but you will still need to contact your agent to bind coverage. Our sophisticated quoting system provides your flood zone determination, as well as your estimated yearly premium if you’re in flood zones B, C, or X. At the conclusion of the process, you will need to briefly speak with one of our flood agents to bind the policy, as additional information will be required (as with any insurance provider). The good news is, completing the quote request online will help expedite your request!
Keep in mind, you can only purchase flood insurance through an insurance agent; you cannot buy it directly from the National Flood Insurance Program (NFIP). Since Georgia Flood Insurance is a general agent, we can easily process all flood insurance policies through the NFIP or through one of
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What if my home and content
value is more
than what the
NFIP policy offers?
Most private insurance companies offer enhanced or excess flood protection, which provides limits above those of the NFIP or above $250,000. Our team of dedicated flood agents can assist in finding the additional coverage you need.
For more information,
Contact a Georgia flood insurance agent!
We’d be happy to discuss your options to make sure you’re fully protected
and you have the coverage that best
fits your needs.
Won't my homeowner
The vast majority of homeowners’ insurance policies only cover damage caused
by threats such as fire, windstorms, hail, lightning, and theft/vandalism. Though there are other some policies that may cover additional threats, floods and earthquakes are typically discounted.
Therefore, you must have a separate flood insurance policy to cover
any damage to your
home or business caused by flooding.
If a flood affects my property,
won’t disaster assistance
Only if President Trump declares a national disaster will the government assist –
and that is
not guaranteed. It is important to know,
federal assistance is not insurance – it is a low-interest loan.
FEMA gives a nice example to better understand how this loan works:
Borrow $50,000 at 4%to repair your property. Over the next 30 years,
you’ll pay about $240 a month in addition
to your mortgage to pay back the loan.
Is my property
or business eligible
for flood insurance?
Everyone in Georgia is eligible for coverage as everyone lives in a flood zone. To qualify for the National Flood Insurance Program (NFIP) coverage,
it will depend on what zone and community you live in.
If you don’t live in an area that participates with the NFIP,
you could still be eligible through a private carrier,
which Georgia Flood Insurance can provide
direct access to.
What is considered a flood?
A flood by definition is defined as
A) When two or more acres or B) Two or more properties are affected by water rising from
the ground up –
usually due to heavy rain, river overflow, or extreme coastal storm conditions. Though river floodplains and coastal areas are the most vulnerable, it is possible for flooding to occur anywhere. This is why we strongly encourage everyone to carry flood insurance –
even in low- to moderate-risk flood zones.
To learn more about the facts about flooding in Georgia, visit our
Georgia Flood Facts page.
What will flood insurance cover
in case of a flood?
Flood insurance covers physical damage to your property and possessions
(up to a certain limit
depending on your policy). For more information, please click the link below
for a more detailed guide of
what is and what is not covered to better understand your
flood insurance policy in Georgia.
Flood insurance coverage details>>
If you still have questions after reviewing the attachment,
Contact one of our agents.
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