Austin, Texas – Flood insurance isn’t just for homeowners and businesses. If you are a renter, you can get a policy from the National Flood Insurance Program (NFIP) to cover your belongings, including clothes, furniture and electronics.
Flood insurance for renters covers your personal property during a flood while a traditional renters policy does not. The cost of the policy is based on several factors including the building’s flood risk.
If you are a renter in low-to-moderate risk areas, you may be eligible for a Preferred Risk Policy. These policy premiums are the lowest premiums available through NFIP. Nearly 26% of all NFIP flood claims occur in the low-to-moderate risk areas.
If you live in an area that is in a special flood hazard area or floodplain, standard rated policies are available. Ask an insurance agent to give you a quote for maximum coverage and lower levels of coverage to find a level of coverage you can afford.
Renters flood insurance premiums are calculated based on factors such as:
- Year of building construction
- Building occupancy
- Number of floors
- The location of your contents
- The flood risk (i.e. flood zone)
- The location of the lowest floor in relation to the elevation requirement on the flood map (in newer buildings only)
- The deductible you choose and the amount of coverage
For more information about an NFIP policy, call 800-427-4661 or your insurance agent and visit https://www.fema.gov/national-flood-insurance-program.
For further information on the Texas recovery, visit the South Texas disaster web page at www.fema.gov/disaster/4454, the FEMA Region 6 Twitter account at www.twitter.com/FEMARegion6 or the Texas Division of Emergency Management website at https://www.dps.texas.gov/dem.