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Flood policies may be used to insure many kinds of buildings. There are flood policies for single-family homes, condominiums, townhomes and most kinds of commercial properties.

In regions that are prone to flooding, having protection is generally advisable. In some cases, homeowners and businesses might even be legally required to carry a flood policy.

  • Flooding
  • Abnormal waves
  • Mudslides

What is Flood Insurance?

Homeowners insurance policies typically protect homes from a variety of perils, commercial property policies may provide similar protections for commercial buildings. Both homeowners and commercial property policies, however, often exclude floods from the perils they cover. Massachusetts homeowners and businesses that would like coverage for flood damage frequently need flood insurance.

Flood policies may be used to insure many kinds of buildings. There are flood policies for single-family homes, condominiums, townhomes and most kinds of commercial properties. Renters may even find flood policies designed to insure their personal possessions.

Who Should Get a Flood Policy?

Many individuals and businesses in Massachusetts can benefit from getting a flood policy.

In regions that are prone to flooding, having protection is generally advisable. In some cases, homeowners and businesses might even be legally required to carry a flood policy.

In low-risk areas, flood policies are often very affordable. Premiums may be so low that purchasing a policy makes sense even if the likelihood of a flood seems small. After all, a single flood can cause extensive damage.

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  • When I called the staff at Paul T. Murphy Insurance, they explained how auto reform would allow me to increase coverage and save money at the same time. I moved my home and umbrella insurance to my current auto carrier and saved over $350. In July 2008 when my auto insurance renews with Safety Insurance, I will save another $300 just for having my auto and home insurance with the same company. The staff at Paul T Murphy Insurance Agency really understands the new Massachusetts reform and how to pass savings and additional coverage to their clients.

    Frank

    Winchester, MA

  • After many years of doing business with the Paul T. Murphy Insurance Agency, I am thrilled to learn of this relationship with Northrup to service the Lynnfield area. I have trusted both my personal and business policies with Paul and have never received less than the best of service. I like the face that they service as professionals but treat you like a friend. Recently during a complicated Workers Comp claim, Paul showed up to walk me through what I thought would be a mess of paperwork and confusion – the personalized service I receive spoke volumes. I have never gotten service like that from anyone else. I also like the fact that they are always ready to save me money without ever compromising my coverage.

    Tony Bartolo

    Lynnfield, MA

  • One of the best business and personal decisions I ever made was to collaborate with Paul Murphy Insurance Company for our families insurance needs. Starting with our business policies, then eventually all of our personal policies, we have slowly transitioned all to be managed by PMI. Many companies loosely tout that they treat you as one of the family; PMI proves it in their actions. We are glad we are part of their family.

    Kelly Ilebode

    Boston, MA

Flood Insurance Massachusetts

Can Massachusetts Residents Get Coverage Via the NFIP?

A federally funded program, the National Flood Insurance Program makes flood policies available to property owners in high-risk areas where coverage would otherwise be prohibitively expensive. To obtain coverage through the program, property owners must have residential or commercial property in a community that’s deemed to be at risk of flooding and that participates in the community.

Many communities in Massachusetts participate in the program. A complete list of communities that participate can be found on FEMA’s website.

Alternatively, property owners can talk with an insurance agent who’s familiar with flood policies. An experienced agent will either know or be able to look up whether a specific property qualifies for NFIP policies.

For residents and businesses that are able to obtain coverage through the NFIP, this is usually the most affordable coverage option because it’s subsidized by the federal government.

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What Kinds of Claims Do Flood Policies Cover?

While specific protections can vary, most flood policies cover claims for damage resulting from atypical water patterns. Depending on a particular policy’s terms and conditions, these patterns might include:

  • Flooding
  • Abnormal waves
  • Mudslides
  • Mudflows
  • Other specified abnormal water patterns

Flood Insurance Massachusetts

Can Residents Use Disaster Relief Funds to Repair Flood Damage?

If they’re made available, disaster relief funds can generally be used to repair property damaged by floods. Even though this is normally permissible, there are two significant reasons why property owners may not want to rely solely on these funds.

First, disaster relief funds aren’t always available. They’re only made available when a disaster is deemed a national disaster -- something the president must proclaim. Numerous disasters cause significant local damage but are never deemed a national event.

Second, these funds aren’t free money when they are available. The funds are given as interest-free loans that must eventually be repaid. Thus, property owners ultimately end up paying for repairs themselves, even if they do get to spread the cost out over several years.

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How Can Residents Get Flood Insurance?

Comparing flood policies requires carefully reviewing different policies’ terms and conditions, as well as the terms and conditions of any homeowners or commercial property policy that’s in place. The fine print is what determines how various incidents are treated by a policy.

For help comparing flood insurance policies, contact the insurance professionals at Paul T. Murphy Insurance. Our independent agents have helped many Massachusetts residents and businesses, and we’d be happy to assist you as well.

Get a Free Flood Insurance Quote!