A surprising number of homes in Greeley, CO, are at high risk of localized flooding. The NFIP program may provide affordable flood insurance coverage to help protect these homes.
Understanding the NFIP
The National Flood Insurance Program (NFIP) was established by the U.S. Congress in 1968 and is managed by the Federal Emergency Management Agency (FEMA). Its primary goal is to offer property owners affordable insurance options and encourage communities to adopt floodplain management regulations.
The program is mainly for those in high-risk areas, although high-risk areas can also be highly localized. Even a tiny brook or pond could cause flood damage.
NFIP Flood Insurance Policies
NFIP policies are explicitly designed to protect homes and businesses from such disasters. By providing financial protection against losses due to floods, the NFIP can fill in coverage gaps. Homeowners insurance (and most commercial insurance) doesn’t protect against flood damage, even if they do protect against other causes of damage.
Moreover, NFIP policies are subsidized so that they can be affordable to the average homeowner. Coverage is often much more affordable than it would be through the private market, and sometimes, it’s the only way to get flood coverage.
Enrolling in the NFIP
To protect your home better against flood damage, contact us at Maanen Insurance Group. Our insurance agents know the details of the NFIP and can help you determine whether coverage makes sense for your Greeley, CO home. Assuming it does, our agents at Maanen Insurance Group can set you up with an NFIP policy so long as your home qualifies.