Yes
Go to the NFIP’s Answers to Questions. For flood insurance rating purposes, a primary residence is a building that will be lived in by the insured or the insured's spouse for at least 80 percent of the 365 days following the policy effective date.  This page contains an overview of the National Flood Insurance Program and contains additional information and links for property owners, claims adjusters, insurance professionals, lenders, surveyors, and elected officials. 1 The document also addresses the potential of these measures to reduce flood insurance premiums under the National Flood Insurance Program. 2  Homeowners can use the information to compare options for protecting their property from future flooding and reducing their flood insurance premiums now and in the future. Even if you are not required to have flood insurance, serious consideration should be given to purchasing it anyway. Homeowners insurance may cover fire and wind damage, but virtually never covers damage from flooding...nature's most common natural disaster. The maximum coverage limits under a standard flood policy are $250,000 for a single family home structure ($500,000 for businesses) and $100,000 for single-family home contents (500,000 for businesses). The coverage limit for renter contents is $100,000. Most home insurance policies don’t offer the coverage. To get flood insurance, you must do so through the federal government and the National Flood Insurance Program. While not everyone needs flood insurance, if you fill two requirements, you must get flood insurance for your home. Policy Maximums. If you buy flood insurance, you should know that there are policy maximums in the event of a claim. For residential property, those maximums are $250,000 for the replacement of your home and $100,000 for the replacement of your belongings. If you wish to purchase flood insurance, you may do so by contacting your insurance agent or the National Flood Insurance Program toll-free at (888) CALL-FLOOD. To learn more about flood insurance, the Division of Insurance has provided this link to the National Flood Insurance Program. Most homeowner policies do not provide coverage for damages resulting from flooding. If you live in a flood-prone area, you should consider and may be required by your lending institution to purchase a flood insurance policy.  Share | Subscribe. For many homeowners, flood insurance isn’t an option; it’s required by their home mortgage lender because the home lies within a 100-year floodplain. But if your home is situated in a moderate-to low-risk flood zone, it's easy to question whether you should purchase flood coverage. The answer isn't so black-and-white in that situation. According to the National Flood Insurance Program, floods are the number one natural disaster in the United States. Every community is able to participate in the NFIP, which administers flood insurance policies for homeowners, renters and business owners. As can be expected, flood insurance premiums are determined by the risks associated with flooding in your area. To determine the flood risk for your property, the NFIP provides a searchable online database. If you're a homeowner in a floodplain, it's not so much a question of if a flood will damage your property as when. Once you know your risk, be prepared through the purchase of the proper level of flood insurance The Facts. Flooding can occur anytime, anywhere. Even if you are not required to purchase flood insurance, serious consideration should be given to purchasing it anyway. Homeowners insurance may cover fire and wind damage, but almost never covers damage from flooding. In high-risk areas there is a 1 in 4 chance of flooding during a 30-year mortgage. If the property is not in a high-risk area, but instead in a moderate-to-low risk area, federal law does not require flood insurance; however, a lender can still require it.
https://www.floodsmart.gov/floodsmart/pages/faqs/faqs_considering.jsp http://www.fema.gov/national-flood-insurance-program http://www.pbcgov.com/dem/floodawareness/floodinsurance.htm http://homeguides.sfgate.com/determines-pay-flood-insurance-6592.html http://www.mass.gov/ocabr/consumer-rights-and-resources/housing/home-smart/buying-a-home/closing-the-deal/shopping-for-insurance/do-i-need-flood-insurance.html http://www.nasdaq.com/article/do-you-really-need-flood-insurance-cm439829 http://www.insure.com/flood-insurance/flood-zone.html http://www.leoncountyfl.gov/floodprotection/need.asp
do I need flood insurance