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Fargo Flood Insurance

Buying Flood Insurance

Your insurance agent is the best source of flood insurance information. You can learn more about this important topic via the FEMA NFIP Site (External Link)

Understand that homeowners insurance does not cover flooding. Because of this, your lender is required to determine if you need to buy a separate flood policy. A mortgage lender has the authority to select flood insurance on behalf of the borrower and add the cost to their monthly payment. However, a borrower typically has the option to purchase flood insurance on their own.

If you are interested in learning more about flood insurance, or purchasing flood insurance, we encourage you to contact your insurance agent.

2012 Flood Insurance Reform

In 2012, the Biggert-Waters Flood Insurance Reform Act was passed and signed into law. This reform extended the National Flood Insurance Program (NFIP) for five years, and calls on the Federal Emergency Management Agency (FEMA) and other agencies to make a number of changes to the way in which the National Flood Insurance Program operates. Read more about the timeline for NFIP rate changes (PDF).