Flood Insurance Law

Flood insurance law is a framework within property insurance that regulates coverage for damage caused by flooding. This insurance is often necessary because standard homeowner policies typically do not cover flood damage. In the U.S., the National Flood Insurance Program (NFIP) provides affordable flood insurance to homeowners, businesses, and communities. Participation in this program is sometimes tied to requirements for communities to adopt floodplain management policies. Understanding flood insurance is crucial for property owners, especially in flood-prone areas, to ensure financial protection against flood-related losses.