Premiums vary according to the flood risk the property is exposed to, the amount of coverage purchased, the deductible and the type of building insured. More than 90 percent of disasters are not presidentially declared. In the majority of floods, victims are on their own-unless they have flood insurance. And even for floods that are declared major disasters, most of the assistance is in the form of loans that must be repaid with interest. Even if a neighborhood is not in a floodplain, flood insurance is advisable.
Floods occur almost anywhere.
Nearly 25 percent of all NFIP claims come from properties considered to be in areas at low or moderate risk.