NASHVILLE, Tenn. -- Recent flooding in Tennessee underscored a painful truth: flooding is America’s most common natural disaster, and the cost of cleanup and repair is huge.
Everyone’s property is in danger of flooding to one extent or another. Yet homeowner insurance policies generally do not cover flood damage.
There is a solution.
The National Flood Insurance Program, administered by the Federal Emergency Management Agency, offers federally backed coverage to property owners and renters in nearly 400 Tennessee communities that participate in the NFIP. Those communities have enacted laws that reduce the risk of damage from flooding.
The average premium for flood insurance is under $570 a year, which is a bargain. Just one inch of water in a typical 1,000-square-foot home can cause $10,600 in damage, according to NFIP calculations. For a 2,000-square-foot house, the damage figure rises as high as $20,920.
Since 1978, Tennessee policy holders have received more than $300 million to settle flood-loss claims.
NFIP policies are sold by many insurance agents throughout Tennessee. For more information on NFIP or for a list of Tennessee agents who offer flood insurance, call 888-379-9531 or go online to www.floodsmart.gov.
Disaster recovery assistance is available without regard to race, color, religion, nationality, sex, age, disability, English proficiency or economic status. If you or someone you know has been discriminated against, call FEMA toll-free at 800-621-FEMA (3362). For TTY call 800-462-7585.
FEMA's mission is to support our citizens and first responders to ensure that as a nation we work together to build, sustain, and improve our capability to prepare for, protect against, respond to, recover from, and mitigate all hazards.
FEMA's housing assistance and Other Needs Assistance grants for medical, dental, and funeral expenses do not require individuals to apply for an SBA loan. However, applicants who receive SBA loan applications must submit them to SBA loan officers to be considered for assistance that covers personal property, vehicle repair or replacement, and moving and storage expenses. Applicants who do not qualify for a SBA loan may be eligible to receive Other Needs Assistance grants for these items.