Structures rebuilt to NFIP new-construction standards are less subject to flood damage, and are eligible for reduced rates. NFIP offers coverage for residential buildings, businesses and contents and for eligible municipal property. Separate policies are necessary for residences and home businesses. Renters can benefit from flood insurance, too. They can insure the contents of the buildings they rent, whether residential or commercial.
Flood insurance provides disaster victims with protection for the future.
FEMA comes to the aid of first-time disaster victims. In case of a second disaster, however, FEMA won't help those victims if they were eligible for flood insurance but did not get it. State officials said changes in federal law require flood insurance coverage for state, county and municipal government properties within the 100-year floodplain. The Flood Disaster Protection Act of 1973 and the National Flood Insurance Reform Act of 1994 help ensure that everyone involved will be protected from financial losses caused by flooding.