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The Murphy Insurance Blog


News, updates and useful tips about insurance products and the insurance industry. We also provide insights on community events, local news and information that affect your everyday life. Enjoy!


floodMany people underestimate the potential for flooding. When a heavy rain storm or hurricane hits, there can be severe damage caused by floods.  Rising and pooling water that lead to flooding don't only happen near rivers, lakes and wetlands...it can happen even in low risk areas due to clogged storm drains, high volumes of rain and other causes.  

Lack of frequency can make it easier for some to rationalize why they might not need to have flood protection since it’s not that common; however, it doesn't mean that it can't happen, which is why you need protection. Did you know that:

  • Homeowners are 4 times more likely to sustain a loss from a flood than a fire.
  • 25 percent of all flood insurance claims are filed in low- to moderate-risk areas.
Here are some common questions that we get about flood insurance:
Q. Does my homeowner, condo or renter policy cover floods?
A. No. It is specifically excluded from these policies. You must purchase separate flood insurance. Flood insurance coverage is limited. Often the amount you can purchase is less than the amount you have purchased under your home insurance; however, in a flood situation, some coverage is better than no coverage.   
Q. What does flood insurance cover?
A. It covers physical damage to your property and possessions. However, the coverage is more limited than the protection provided under your homeowner policy, so it’s important to understand the differences. Read the National Flood Insurance Program Summary of Coverage for more information.
Q. How much does flood insurance cost?
A. The cost of coverage is controlled by the National Flood Insurance Program (NFIP) implemented by FEMA. The premium cost will vary depending on your property location and the structure. It also depends on flood zone based on federal flood maps and several other factors. If you live in a low-to-moderate risk area, you can receive preferred rates. Your premium will also be lower if you choose a higher deductible. Rates are set by the NFIP and are the same regardless of where your purchase insurance.
For additional details, review our flood insurance page. The NFIP website also provides a wealth of information, www.floodsmart.gov. If you don’t have flood insurance but believe you have potential flood risks at your property, even if low, it's worth taking the time to learn more and get a flood insurance quote. You may be surprised at how affordable it can be.

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