Coverage from the NFIP
Flood insurance protects two types of insurable property: building and contents. The
first covers your building, the latter covers your possessions; neither covers the land they occupy.
Building coverage includes:
- The insured building and its foundation
- The electrical and plumbing system
- Central air conditioning equipment, furnaces, and water heaters
- Refrigerators, cooking stoves, and built-in appliances such as dishwashers
- Permanently installed carpeting over unfinished flooring
Contents coverage includes:
- Clothing, furniture, and electronic equipment
- Portable and window air conditioners
- Portable microwaves and dishwashers
- Carpeting that is not already included in property coverage
- Clothing washers and dryers
The two most common reimbursement methods for flood claims are Replacement Cost Value (RCV) and Actual Cash Value (ACV).
The RCV is the cost to replace damaged property; it is reimbursable to owners of single-family primary residences
insured to at least 80 percent of the building's replacement cost.
All other buildings and personal property (i.e. contents) are valued at ACV. The ACV is the RCV at the time
of loss minus physical depreciation. Personal property is always valued using the ACV.
Use the Summary of Coverage for more details on what's covered.
Insurance is Required
Learn your risk, and find an agent, by taking Your Risk Profile.
PRIMARY RESIDENCE DISCLAIMER
For flood insurance rating purposes, a primary residence is a building that will be lived in by the insured or the insured's spouse for at least 80 percent of the 365 days following the policy effective date. If the building will be lived in for less than 80 percent of the policy year, it is considered to be a non-primary residence.
Last Updated: Wednesday, 21-Sep-2016, 2:01 PM (EDT)
500 C Street SW, Washington, D.C. 20472
Disaster Assistance: (800) 621-FEMA, TTY (800) 462-7585
U.S. Department of Homeland Security