National Flood Insurance Program

Flood of June 2006

National Flood Insurance Program

The National Flood Insurance Program (NFIP) has, if you like (and even if you don’t), ┬áthree different components.

  • Flood Insurance – it’s mandatory if you live in an area with a high risk of flooding, and even if you live in a moderate to low risk area it’s still highly recommended.
  • Flood Plain Management – all of the communities which participate in the NFIP (almost 20,000 of them) adopt and enforce floodplain management so that the risks of flooding are considerably reduced. This helps reduce the costs of flood damage by around $1 billion per year (how many noughts is that?), and any new buildings which are constructed in compliance with the NFIP guidelines suffer around 80% less damage than those which are not built within those standards. What a saving . . . pretty remarkable really.
  • Flood Hazard Mapping – is the third part of the NFIP, identifying and mapping the floodplains of the nation. This in turn helps to create awareness of flooding in these areas as well as providing the data needed for future floodplain management programs. They are also a great indicator of the effects of new developments and how they can potentially affect floodplains and flooding. Your flood insurance rates are of course┬álargely dependent on the location of your community in relation to floodplains and flooding hazards.
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