The state of Connecticut
doesn’t mandate flood insurance, but if your home is in a federally mapped flood plain, your lender will likely require it. In addition, it’s probably just a good idea to have coverage—the Constitution State is quite prone to flooding, especially in the Connecticut River Basin. And in recent years, as the weather has become more severe, the damage has become more common and costly.
Unfortunately, standard homeowners insurance policies don’t cover damage caused by floods. If you want flood protection, you will have to purchase a separate, stand-alone policy from the National Flood Insurance Program
(NFIP) or a private broker. Not sure where to start? This handy guide from home and auto insurance
app Jerry
will tell you everything you need to know about buying flood insurance in the great state of Connecticut. RECOMMENDEDNo spam or unwanted phone calls · No long forms
What is flood insurance?
In a nutshell: flood insurance covers losses directly caused by flooding. As far as insurance goes, flooding is when water covers land that is usually dry, affecting two or more acres or two or more properties.
Damage from floods can be costly, and can even destroy a home’s structural components.
If you have a mortgaged property, the lender will likely require enough flood insurance to cover your remaining premium. So, for instance, if you still owe $225,000 on your mortgage, you will need to get $225,000 in flood coverage. In addition, if you want to cover your personal belongings (or “contents”) as well, you will need to purchase even more coverage.
What does flood insurance cover?
Flood insurance only covers damage to your home or personal property that is directly caused by floods.
If you purchase a policy from the NFIP, it will cover the cost to rebuild your home or the actual value, whichever is less, including:
Electrical and plumbing systems
Air conditioning, furnaces, and water heaters
Flood insurance generally does not cover anything outside the home, such as decks and patios or pools and hot tubs. It also does not cover lost wages or temporary living expenses.
Here’s a more detailed breakdown of what’s covered (and what isn’t) under each type of insurance:
| | |
|---|
| Electrical and plumbing systems, water heaters and furnaces, large appliances like dishwashers or refrigerators, permanently installed bookcases, cabinets, and paneling, permanently installed carpets, window blinds, foundational walls, staircases, and anchorages, detached garages, fuel tanks, solar panels, and well water tanks/pumps | Decks and patios, swimming pools, fences and landscaping |
| Clothing, furniture, electronic equipment, curtains, washing machine and dryer, portable air conditioners (including window units), carpets not included in building coverage, valuables such as artwork up to $2,500 | Valuable papers, currency, anything stored in a basement |
MORE: Does flood insurance cover hurricanes?
Do you need flood insurance in Connecticut?
In general, Connecticut does not require residents to have flood insurance. However, if you live in one of FEMA’s Special Flood Hazard Areas
, federal law requires flood insurance to be part of your mortgage agreement. Since FEMA reassesses their flood rate maps every year, even if your property is not in an SFHA now, it may end up in one later. That means you may end up needing flood insurance in the future, even if you’re not legally required to have it right now.
Sounds complicated, right? Don’t worry; you don’t have to keep track of it yourself. Your mortgage company will notify you if you need to purchase a flood policy.
What flood zones require flood insurance in Connecticut?
If you live within one of FEMA’s designated Special Flood Hazard Areas in Connecticut, your mortgage lender will require you to purchase a flood insurance policy.
SPFAs are marked on flood maps as zones starting with A (A, AO, AE, etc.) or V. Since maps are updated periodically, it is feasible that your property could end up in an SPFA later, even if it’s not in one now.
However, as a homeowner in a flood-prone state, it is wise to buy flood insurance even if you’re not legally bound. A flood policy will protect your home and belongings in the case of a natural disaster
. Without insurance, you could end up paying hundreds of thousands of dollars in damages. Key Takeaway With ever-changing flood zones, it can be difficult to know if your property is at risk or not. But, because nature can be unpredictable, the best bet is to simply assume that you are ALWAYS at risk and get the protection that you need.
How much does flood insurance cost in Connecticut?
The average annual premium for flood insurance in Connecticut is $1,395. This number only includes policies purchased through the National Flood Insurance Program; policies purchased through private brokers will vary.
In addition, because NFIP calculates premiums using specific factors like property and location, your premium could end up being much higher or lower than the average. Likewise, FEMA recalculates flood risk on its flood maps annually, so the cost of coverage may change from year to year.
MORE: Homeowners insurance in Connecticut
How to save money on flood and auto insurance in Connecticut
If you live in a high-risk zone, flood insurance can end up being a significant expense. This is especially true in Connecticut, which ranks among the top three states with the most costly NFIP insurance premiums.
It is important to note also that NFIP policies are capped at $250,000 in building coverage and $100,000 in personal belongings, and NO flood insurance policies cover damage to vehicles.
A private insurer may offer you more coverage options and lower premiums. Home and auto insurance
broker Jerry can help you ensure you have the coverage you need for your home and auto. If you’re looking for a new insurance company, Jerry
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