Flood Insurance

This special coverageis your only insurance against floods.

  • Protect against natural disaster
  • Average premium is less than $2 a day
  • Goes beyond homeowners insurance

Are you properly protected?

Floods have caused tens of billions of dollars in insured losses in the U.S. alone over the past decade. Since flooding typically isn't covered under your homeowners insurance policy, the best way to protect your home is with flood insurance provided by the National Flood Insurance Program.

Floods are the #1 natural disaster in the United States.

With the construction of more roads, shopping malls, homes and businesses, the chance of flooding increases. Millions of buildings have been damaged over the last several years. People have lost their homes and belongings, and they never saw it coming.

You can live miles away from water and still be a victim of flooding. In fact, more than one in five flood claims occur outside of mapped high-risk areas. It doesn't take much to damage your property. Just a few inches of water from a flood can cause tens of thousands of dollars in damage.

Homeowners insurance does not cover flood damage.

Your homeowners insurance covers many hazards. Flooding isn't one of them. Also, many people believe federal disaster assistance will cover them. But that's not always the case. The President must first declare a flood a federal disaster; any assistance you receive is usually a loan that has to be repaid with interest.

That's why you need flood insurance. The National Flood Insurance Program was created by Congress in response to the rising cost of disaster relief for flood victims, and for more than 40 years it has provided protection for millions of families. About 100 private insurance companies nationally offer flood insurance backed by the federal government. Policies are available to homeowners, condo owners, apartment owners, renters and business owners.

The cost of your premium is determined by your level of risk, how much coverage you choose, your deductible, and the age, elevation and type of building. The average premium for a residential flood insurance policy is less than $2 a day. If you live in a single family dwelling outside of a mapped high risk area, your premiums could be even lower.

What Does Flood Insurance Cover?

There are two types of coverage: building and contents.

Building Coverage

  • Homeowners and condominium unit owners can purchase up to $250,000 of building coverage.
  • Businesses can purchase up to $500,000 of building coverage.
  • Residential condominium associations can purchase up to $250,000 for each eligible unit or the replacement cost of the building, whichever is less.

Contents Coverage

  • Homeowners and condominium unit owners can purchase up to $100,000 for contents.
  • Businesses can purchase up to $500,000 for contents.
  • Renters can also purchase contents protection up to $100,000.

Thousands of homeowners thought it would never happen to them. Don't be one of those homeowners. If you live in one of the nearly 21,500 communities that participate in the NFIP, you can purchase a flood insurance policy.

Lincoln Savings Bank is a full-service Central and Northeast Iowa bank dedicated to local customers and communities since 1902.