FLOOD02558

• County: Statewide
• Community: State of Illinois
• Basin: Statewide
• Title: Ideas for Protecting Your House from Flood Damage
• Date: 6/15/1979
• Prepared By: Illinois DOT, DWR
• Floodplain - Doc Type: Educational/Technical/Reference Information

IMPORTANT NOTE: There is a five day waiting period before your coverage goes
into effect. The policy will not cover damages from a flood in progress at
the end of the five days. Therefore, it is too late to buy a policy after
the flood warnings are issued. You should talk to youp insurance agent now.
If he is not familiar with the NFIP, he should call, toll-free [phone].

Advantages of Flood Insurance:

NFIP flood insurance is federally subsidized. Houses subject to frequent
flooding are being protected with the homeowner paying as little as 10%
of the true cost. For most of the other measures discussed in this manual,
the homeowner pays 100% of the cost.

NFIP flood insurance covers all floods, no matter how large. A levee,
for example. may only protect you from a 10 or 50 year flood.

There is no reliance on human intervention (see section I.H.), you are
covered as long as your policy is in force.

Problems of Flood Insurance:

NFIP flood insurance is not available everywhere. Although most flood
prone communities have joined, the corporate authorities of some are
reluctant to begin regulating future floodplain construction.

Flood insurance does not protect your house from flood damage; it merely
repays you for most of the costs associated with the damage. If you
have adequate warning of a flood, a policy will cover the cost of moving
your contents to high ground. Otherwise, your house will receive damage,
you will pay the deductibles, you will not be reimbursed for damage to
uninsurable items, and you will not be reimbursed for the hardships
suffered.

Costs: 594 of the 668 Illinois NFIP communities are in the Emergency
Program. During this phase, residents of those communities can buy
flood insurance coverage up to certain maximum amounts at the subsidized
rates indicated:

Maximum Rate Maximum Rate
Structural Per Contents Per
Coverage $100 Coverage $100
Single family residence $ 35,000 $.25 $ 10,000 $.35
Multi-family residence 100,000 .25 10,000 .35
Non-residential 100,000 .40 100,000 .75

Example: $8,000 contents coverage in a single family house:
80 X $.35 ; $28.00 Annual Premium

The minimum annual premium
on each type of coverage.
age goes into effect.

available is $25. There is a $200 deductible
There is a 5-day waiting period before cover-

In the 74 Regular Program NFIP Communities, most buildings can be cover-
ed for the same or lower rates. Premiums for coverage beyond the maximum

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