New Hampshire Flood Insurance
The most important fact about New Hampshire flood insurance is that New Hampshire homeowners insurance does not provide it.
We all know about the devastating floods and multiple “hundred-year”
storms which have hit parts of New Hampshire in just the past few years.
The flooding in Alstead and the rerouting of the Suncook River are
just two of the most notable recent flooding events in New Hampshire.
We’ve dealt with many clients’ properties affected by flooding in both
designated flood zones, and areas previously thought to be safe from
Most areas in designated flood zones are near the large and obvious
sources of flooding: large bodies of water such as the ocean, lakes,
rivers and streams. However, as you’ve probably seen in your town,
flooding can happen in a much more localized manner from a stationary
thunderstorm, a blocked culvert, or a very small brook swollen by
snowmelt and rainwater.
If you have a mortgage, living in a designated flood zone area
dictates the purchase of flood insurance; however, businesses and
homeowners can purchase flood insurance whether in a high-risk flood
area or not. Everyone should consider flood insurance.
Premiums for properties outside high-risk areas are quite reasonable,
and, should the flood designation for your property ever change, with
continuous coverage you are grandfathered in and can keep your existing
flood policy based on the lower rate! (You may even be able to transfer
the policy to a new owner.)
Davis & Towle has partnered with G.C. Engineering of Belmont, New
Hampshire to provide accurate flood determinations for our flood
insurance policies. And when a discrepancy on the flood map is
suspected, G.C. Engineering can create an elevation certificate and is
authorized to produce an electronic letter of map amendment (E-LOMA).
This E-LOMA capability means they may be able to correct the error in
time for your closing, saving you money out-of-pocket.
Flood policies are written via the National Flood Insurance Program
(NFIP). NFIP was established to help communities who voluntarily
participate by “adopting and enforcing floodplain management ordinances
to reduce future flood damage.” It is to the advantage of both
homeowners and communities to become a part of this program, or at least
to purchase flood insurance. In the event of a flood, losses will be
minimized and assets preserved. You can talk to us about whether your
community participates in the NFIP, or to obtain a free New Hampshire flood insurance quote.