Who in New Hampshire should consider flood coverage?
New Hampshire property owners whose property is in a FEMA high-risk flood zone should consider — and might need — flood coverage. Other property owners may purchase coverage too.
The National Flood Protection Act of 1973 generally requires that financed properties in high-risk flood zones be insured with flood coverage. Lenders thusly require flood coverage for any properties that are financed and in high-risk zones. They might also require coverage for properties in lower-risk areas, although this isn’t stipulated by law.
Property owners shouldn’t make the mistake of assuming that only properties on coastlines and major lakes are at high risk. Mountain springs, rambling streams, whitewater rivers and ponds can all overflow enough to cause property damage. Many such properties are either in a high-risk zone, or could benefit from flood coverage regardless of zone.
A knowledgeable insurance agent familiar with flood policies will know how to determine whether a property falls within a high-risk zone.