Flood Insurance
Flooding is one of the most common and costly natural disasters in the United States. Whether caused by heavy rainfall, overflowing rivers, storm surge, rapid snowmelt, or drainage issues, flood damage can happen almost anywhere.
Many homeowners and business owners are surprised to learn that standard home, condo, renters, and commercial property insurance policies typically do not cover flood damage. A separate flood insurance policy can help protect your property, belongings, and financial future when rising water causes unexpected damage.
At Shepherd, we help individuals, families, business owners, and property investors evaluate their flood exposure and find the right coverage through both private flood insurance carriers and the National Flood Insurance Program (NFIP).
WHY DO I NEED FLOOD INSURANCE?
Many property owners assume they only need flood insurance if they’re located in a designated flood zone. The reality is that flooding can affect properties in nearly any location.
In fact, a significant percentage of flood claims occur outside of high-risk flood areas. Even a small amount of water entering a home can result in substantial repair costs, property damage, and disruptions to daily life.
Flood insurance can help provide financial protection for:
- Structural damage to your home or building
- Electrical, plumbing, and HVAC systems
- Flooring, walls, and built-in fixtures
- Personal belongings and contents
- Certain business property and equipment
- Recovery and rebuilding expenses following a covered loss
WHO SHOULD CONSIDER FLOOD INSURANCE?
Flood insurance may be worth considering if you own:
HOMES
Whether you're in a coastal community, suburban neighborhood, or rural area, flood events can occur due to severe weather and changing environmental conditions.
RENTAL PROPERTIES
Protect your investment property from costly flood-related damage.
BUSINESSES
Commercial flood insurance can help protect buildings, inventory, equipment, and other assets from flood losses.
PROPERTIES NEAR WATER
Homes and businesses located near rivers, lakes, creeks, retention ponds, or coastal areas often have elevated flood exposure.
FLOOD INSURANCE FREQUENTLY ASKED QUESTIONS
In most cases, no. Standard homeowners insurance policies generally exclude damage caused by flooding. A separate flood insurance policy is often required.
Many flood losses occur outside high-risk flood areas. Any property can experience flooding from heavy rainfall, drainage issues, overflowing waterways, or severe weather events.
Flood insurance generally defines a flood as a temporary condition where normally dry land becomes inundated by water due to events such as overflowing water sources, surface water runoff, mudflow, or certain erosion-related conditions.
Coverage varies by policy, but may include the building structure, major systems, and personal property or business contents. Coverage limits and exclusions will depend on the specific policy selected.
NFIP policies are backed by the federal government and provide standardized coverage options. Private flood insurance carriers may offer higher limits, broader coverage, and additional policy features.
Flood insurance may be required by a mortgage lender for properties located in designated high-risk flood zones. Even when not required, many property owners choose flood insurance for added financial protection.
Many flood insurance policies have waiting periods before coverage becomes effective. Waiting periods can vary by carrier and policy type.
Yes. Renters can often purchase flood insurance to help protect personal belongings, even if they do not own the building.
The right amount of coverage depends on your property’s value, replacement cost, mortgage requirements, contents, location, and risk exposure. A Shepherd advisor can help determine appropriate limits.
Contact your insurance carrier as soon as it is safe to do so, document the damage with photos and videos, and work with your claims adjuster to begin the recovery process.
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We’d love to hear from you. If you need assistance, have questions about our group of Shepherd partner companies or are simply looking for more information, we’re eager to help.
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Headquartered in Carmel, Indiana, with offices throughout the country, we are here to assist you with all of your insurance, benefits and financial needs.
111 Congressional Blvd Suite 100
Carmel, IN
46032-5638
1.800.846.0204
