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Flood Insurance Basics


What every Minnesotan should know about flood insurance

As the second largest natural disaster, floods are widespread and can cause much more than property damage. For many Minnesotans without proper insurance, flooding can cause severe personal and financial losses.

Three truths about flood insurance:

  • A standard homeowner's insurance policy does not provide flood coverage.

  • You cannot depend on disaster assistance. You only get assistance when the President declares a disaster. Since less than 50 percent of floods are declared disasters, most flood victims are on their own.

  • Paying for flood insurance is less expensive than paying back a disaster loan. Most disaster aid comes in the form of loans, which must be paid back. The average loan payment on a $50,000 disaster loan is $240 per month ($2,880 per year) for 30 years compared to a $100,000 flood insurance premium which is about $400 per year ($33 per month).

More information about flood insurance is available in our Flood Insurance Information for Minnesotans publication.

Purchasing flood insurance

Contact your local insurance agent or insurance company to find out what types of offers they have for purchasing flood insurance.

More information:

For more information about purchasing flood insurance, visit the National Flood Insurance Program's (NFIP) website at www.floodsmart.gov or call 1-888-379-9531.

 
If you have flood insurance and want information about filing claims, or if you are having trouble applying for flood insurance, call NFIP's national information line at 1-800-427-4661.

 
If you experience problems with an insurance company or are aware of any fraudulent activity, please contact the Minnesota Department of Commerce Consumer Response Team at 1-800-657-3602 or 651-539-1600 or visit us on the web at www.insurance.mn.gov.