If you do not have flood insurance, talk to your insurance agent. Most homeowners’ and renters' insurance policies do not cover damage from floods. Be sure to check your policy to ensure you have adequate coverage. Policies are available to cover the structure and the contents of the building separately; be sure to ask about a contents policy if you are a renter or if you want to insure your belongings as well as your home. Plan ahead; there is a 30-day waiting period before insurance coverage becomes effective so do not wait until a flood is predicted before purchasing flood insurance.
Under federal law, the purchase of flood insurance is mandatory for all federal or federally related financial assistance for the acquisition or construction of buildings in high-risk flood areas, also known as Special Flood Hazard Areas or SFHAs. Put more simply, if you live in a SFHA and have a mortgage, you are probably required to carry flood insurance. If your property is in a moderate-to-low risk area, federal law does not require flood insurance; however, a lender can still require coverage. About 1-in-4 flood claims are for properties in moderate-to-low risk areas, so flood insurance is still recommended in these areas. If flood maps are revised during the life of your loan and your property is put into a high-risk area, your lender will notify you that you must purchase flood insurance. Not sure about your flood hazard? Visit Know Your Flood Hazard for more information.
The amount of flood insurance coverage required by the Flood Disaster Protection Act of 1973, as amended by the National Flood Insurance Reform Act of 1994, is the lesser of the following:
- The maximum amount of NFIP coverage available for the particular property type, or
- The outstanding principal balance of the loan, or
- The insurable value of the structure.
FEMA completed an updated Flood Insurance Study (FIS) in 2019 for Polk County that includes the entirety of the City of Clive. Flood Insurance Studies help identify the existence and severity of flood hazards. The FIS is available in 3 volumes.
If you believe your property has been inaccurately included in the SFHA, contact Community Development to discuss the process for amending the flood map through a Letter of Map Change (LOMC) or visit FEMA online for additional information. Although FEMA uses the most accurate flood hazard information available, limitations of scale or accuracy of topographic information used to prepare the FIRM may cause small areas that are at or above the flood elevation to be inadvertently shown within the SFHA boundaries. Also, the placement of fill may elevate small areas within the SFHA boundaries to an elevation at or above the flood elevation. When this happens, structures or parcels of land may be inadvertently included in the SFHA on the FIRM.