Plan for the Unpredictable

Floods are unpredictable and can affect geographic areas not historically flood prone. Floods are not typically covered by standard insurance policies and even seemingly small amounts of water can cause costly damage to property and possessions.

While it is difficult to predict when or if a flood will occur, you can protect your home, business, and personal property with specific flood insurance through the National Flood Insurance Program (NFIP). Our specialists at Safehold Special Risk can help you navigate through the NFIP program to help you secure coverage appropriate for your needs.

For protection beyond the limits of the NFIP, learn more about the Safehold Excess Flood Program.

The National Flood Insurance Program (NFIP) covers the following, with some exclusions that vary by policy and flood zone:

Building:

  • Structure and foundation
  • Electrical and plumbing system
  • Central air-conditioning equipment, furnaces, and water heaters
  • Built-in appliances
  • Permanently installed carpeting

Personal Property:

  • Furnishing and curtains
  • Clothing and other personal belongings
  • Electronic equipment
  • Portable appliances
  • Carpeting not included in building coverage
  • Business inventory and equipment

Coverage for basements is limited to certain types of equipment they may contain, such as furnaces.

Dwelling Policy
For owners and tenants of residential buildings in high-risk flood zones, we offer coverage with the following limits:

  • Building property – Up to $250,000
  • Personal property (contents) – Up to $100,000

Preferred Risk Policy
For owners and tenants of residential and commercial properties in moderate to low-risk flood zones, we offer coverage with the following limits:

  • Residential building property – up to $250,000
  • Residential personal property (contents) – up to $100,000
  • Commercial building – up to $500,000
  • Commercial personal property (contents) for owners or tenants – up to $500,000

General Property Policy
For owners of five or more residential or nonresidential buildings in high-risk flood zones, we offer coverage with the following limits:

  • Residential building – up to $250,000
  • Residential personal property (contents) – up to $100,000
  • Non-residential building - up to $500,000
  • Non-residential personal property (contents) for owners or tenants – up to $500,000

Residential Condominium Building Association Policy
For condominium associations in low, moderate, or high-risk flood zones, we offer coverage for all units and their contents, plus building common areas, with the following limits:

  • Building – up to $250,000 for each unit or the replacement cost of the entire building (whichever is less)
  • Personal property (contents) – actual cash value of contents up to a maximum of $100,000 per unit

The NFIP encourages the purchase of both building property and contents personal property coverage. In addition, mortgage companies can require the purchase of a certain amount of flood insurance coverage.