National Flood Insurance Program
If you don't have flood insurance, talk to your insurance agent. Homeowner's insurance policies do not cover damage from floods. However, because the City of Odessa participates in the National Flood Insurance Program (NFIP), you can purchase a separate flood insurance policy. Additionally, the City of Odessa participates in the Community Rating System (CRS) and has received a rating of 8 allowing citizens of our community to appreciate a 10% discount from the applicable premium. This insurance is backed by the federal government and is available to everyone, even for properties that have been flooded.
Some people have purchased flood insurance because it was required by the bank when they got a mortgage or home improvement loan. Usually these policies just cover the building's structure and not the contents. Additional coverage for contents is available through the NFIP.
Check Your Coverage
At last count there were approximately 1,000 flood insurance policies in Odessa. If you are covered, double-check that the building coverage is adequate and if you have contents coverage. Flood insurance covers all surface floods.
Don't wait for the next flood to buy insurance protection. There is a 30-day waiting period before the National Flood Insurance Program coverage takes effect. Contact your insurance agent for more information on rates and coverage.
Should you want more information or if you need an agent visit the National Flood Insurance Program website.