What is the National Flood Insurance Program (NFIP)?
The National Flood Insurance Program (NFIP) is a Federal program enabling property owners in participating communities to purchase insurance protection against losses from flooding. This program is designed to provide an insurance alternative to disaster assistance to meet the escalating costs of repairing damage to buildings and their contents caused by floods. Participation in the NFIP is based on an agreement between local communities and the Federal Government. This agreement states that if a community will adopt and enforce a floodplain management ordinance to reduce future flood risks to new construction in Special Flood Hazard Areas, the Federal Government will make flood insurance available within the community as a financial protection against flood losses.
The NFIP is a federal program enabling property owners in participating communities to purchase insurance protection against losses from flooding. This insurance is designed to provide an insurance alternative to disaster assistance to meet the escalating costs of repairing flood damage to buildings and their contents. Participation in the NFIP is based on an agreement between local communities and the federal government that states that if a community will adopt and enforce a floodplain management ordinance to reduce future flood risks to new construction in Special Flood Hazard Areas, the federal government will make flood insurance available within the community as a financial protection against flood losses.
NFIP is a program administered by FEMA, which produces Flood Insurance Rate Maps (FIRMs) that are based on technical analysis and stream gauge measurements of historical flooding information. FIRMs include flood risk information, special flood hazard areas, Base flood elevations (called 100-year elevations), areas subject to inundation by 100-year and 500-year floods along primary channels, and common features like streams, highways, roads, and railroads. Call 1-800-477-4661 for information about obtaining coverage under the National Flood Insurance Program.
The National Flood Insurance Program is a Federal program that allows you to purchase insurance against flooding. The basis of participation in the NFIP is the agreement between local communities and the Federal Government. This agreement consists of the community enforcing a floodplan management ordinance which would reduce future flood risk to new construction, and as a financial protection the Federal Government will make flood insurance available within the community.
Related Questions
- Can my community do anything to lower flood insurance premiums for coverage through the National Flood Insurance Program (NFIP)?
- Where can I find out information about regulatory floodplains and the National Flood Insurance Program (NFIP)?
- Who do I contact regarding the National Flood Insurance Program (NFIP)?
