Flood Insurance

It may come as a surprise to many Missourians, but standard homeowners insurance policies don’t typically cover flood damage to property or possessions. In Missouri, floods remain one of the most common and costly natural disasters, and are responsible for nearly $500 million in flood insurance claims since 2000. In fact, even just one inch of floodwater can cause an estimated $25,000 in damage to your home and possessions, and many natural disasters can result in flooding.

Instead, flood coverage must be purchased separately from your homeowners policy, either through the National Flood Insurance Program (NFIP) or through a private company. NFIP is a federal program administered by the Federal Emergency Management Agency (FEMA). For homeowners in high-risk flood areas, lenders usually require this coverage as part of a mortgage agreement, while for others it remains optional, but still highly recommended. Even if you don’t reside in a high-risk flood area, it’s important to remember that flooding can occur almost anywhere due to heavy rainfall, storm runoff, or overflowing waterways, and a significant portion of flood claims actually come from outside high-risk zones.

Flood insurance is available for both homeowners and businesses and generally provides two types of coverage: protection for the structure itself: the foundation, electrical systems, and major appliances, and coverage for personal property: furniture, clothing, and electronics. However, it’s important to understand that certain items, such as vehicles, temporary living expenses, and some basement contents, may not be covered.

It’s important to plan ahead, as NFIP policies generally take effect 30 days after purchase, meaning you shouldn’t wait until a storm is approaching to secure coverage. Premium costs vary based on factors such as the level of coverage selected, what is included in the policy, and the property’s flood risk.

In addition to working with NFIP, Missouri Farm Bureau Insurance partners with multiple private insurance companies known as Write Your Own (WYO) carriers. It is important to keep in mind that coverage availability can vary between carriers, and that private companies have different underwriting guidelines and coverage capabilities. Certain WYO carriers have a broad appetite and can write outside of participating communities, subject to risk eligibility. Because options and requirements differ by carrier, working with a knowledgeable Missouri Farm Bureau Insurance agent is the best way to identify the right flood insurance solution for your property.

For more information about flood insurance coverage and requirements, visit the NFIP website or speak with your Missouri Farm Bureau agent to explore available options.