I live in a high-risk risk area. After my home was damaged in a flood, I received federal disaster assistance. Do I need to purchase flood insurance now?
Yes. If you live in an SFHA and have received disaster assistance in the form of a federal grant or loan, you must cover the building for flood insurance for as long as you own it. Should you sell the building, you are required to inform the new owner of the necessity to purchase and maintain flood insurance. Failure to carry flood insurance could result in the denial of future federal disaster assistance.
Related Questions
- I live in a high-risk risk area. After my home was damaged in a flood, I received federal disaster assistance. Do I need to purchase flood insurance now?
- If a home, business, or other structure within a special flood hazard area is damaged by fire, flood, wind, or other source of damage, can it be repaired?
- What if I believe there has been an error in mapping my home or business into a high-risk area or if I believe the Base Flood Elevation is too high?
