Eligibility starts with the community. The NFIP is built on local floodplain management, so property owners and renters can buy coverage only in a participating community. A house in a community that does not participate cannot be insured under the program.
The SFIP Dwelling Form insures one-to-four family buildings, condominium units, and personal property in a building. A renter does not need to own the building to insure contents.
Principal coverage: the SFIP pays only for direct physical loss by or from flood. It specifically excludes additional living expenses, loss of use and other economic loss, which surprises people used to homeowners policies. A separate $1,000 Loss Avoidance Measures benefit helps pay for sandbags and moving property to safety; it is not for lodging.
Claim rules:
The insured must send a proof of loss within 60 days after the loss, even if the adjuster does not furnish the form or help complete it.
A lawsuit must be filed within one year after the date of written denial of all or part of the claim, in the United States District Court for the district where the property was located.