Flood Insurance Can Help Oklahomans Avert Financial Disaster

Release Date:
September 6, 2022

Flooding can happen to anyone, anywhere—even if your home or business is not in a high-risk flood area. An insurance policy through the National Flood Insurance Program (NFIP) could save you from the financial devastation caused by floods.

Financially Protect Your Property

  • Buy or renew your flood insurance policy now to be financially protected and ready for floods.
  • Policies for homeowners can carry coverage of up to $250,000 for the structure and up to $100,000 for building contents.
  • Business or nonresidential property owners can insure a structure for up to $500,000 and its contents for up to $500,000.
  • Renters can cover contents up to $100,000.
  • Most NFIP policies also include Increased Cost of Compliance coverage for structures whose repairs will cost at least 50 percent of the property’s market value. This provides up to $30,000 in additional coverage if the policyholder needs to elevate, relocate or demolish the structure to comply with local standards for rebuilding in a floodplain.
    • Flood insurance can also help with your recovery regardless of whether there is a presidential disaster declaration.
    • Residents should not rely on federal disaster assistance after a flood, since not every event is declared a federal disaster, and disaster assistance is intended to help pay for basic needs and costs to assist in making your home safe to occupy.
    • Flood insurance can help you get closer to your pre-disaster condition.

Flood Smart—Purchase or Renew a Flood Insurance Policy Today

You can buy or renew a flood insurance policy by calling your insurance company or a local independent agent who can write flood insurance directly with the NFIP, administered by FEMA. If you don’t have a provider, visit floodsmart.gov/flood-insurance-provider to be taken to a list of agencies offering flood insurance in Oklahoma.   

Visit FloodSmart.gov or call the NFIP at 877-336-2627 for more information.

There is usually a 30-day waiting period after applying and paying the premium before the flood insurance policy becomes effective. However, there is no waiting period when flood insurance is required by a lender. Lenders may require flood insurance for a new loan, when a loan amount is increased or extended, or after a mortgage portfolio review shows that the building is in a high-risk area.

Speak to a Community Education and Outreach (CEO) specialist by calling: 833-FEMA-4-US or 833-336-2487, by emailing FEMA-OKMit@fema.dhs.gov or visit CEO’s web page for publications you can use as guides for your recovery: https://fema.connectsolutions.com/okmit or https://fema.connectsolutions.com/ok-es-mit for Spanish. These specialists provide information on how to repair and rebuild safer and stronger after a disaster.

NFIP insurance is only available in communities that participate in the NFIP and pass floodplain management regulations to reduce the impact of future weather events. To find out if you’re in an NFIP community, contact your insurance agent or your local floodplain manager.

For the latest information on the Oklahoma severe storms, tornadoes and flooding, visit fema.gov/disaster/4657. Follow us on Twitter at twitter.com/FEMARegion6 and like us on Facebook at facebook.com/FEMARegion6/.

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