My family has lived in our house for many years, and we had a big flood that was called the 100-year flood. We weren't damaged. Why do I need flood insurance?
The term 100-year flood is often incorrectly used and can be misleading. It does not mean that only one flood of that size will occur every 100 years. The term is a statement of probability that scientists and engineers use to describe how one flood compares to others that are likely to occur.

Today, we use the phrase 1% annual chance flood. What it means is that there is a 1% chance of a flood of that size happening in any year. Over a 100-year period, it has a 63.5% chance of occurring. Even more surprising is that over a 30-year period (typical mortgage period) the 1% annual chance flood has a 26% chance of occurring.

To answer your question about why you need flood insurance, you would need to look very carefully at what caused the flood and how high the water near your home rose. Because rainfall amounts are different when a storm moves across an area, a 100-year flood may occur in some places but not others. There are many factors that can add to flooding, including trash and debris in ditches and culverts, saturated ground, aging infrastructure and numerous other circumstances.

Show All Answers

1. What does it mean if my community does not participate in the National Flood Insurance Program (NFIP)?
2. What are FEMA's requirements to remove land or a building from the 1% annual chance flood hazard area?
3. What is the 100-year flood?
4. I have lived here forever and have never been flooded. Why do I need flood insurance?
5. What elevation is used when rating a structure for a flood insurance policy?
6. My family has lived in our house for many years, and we had a big flood that was called the 100-year flood. We weren't damaged. Why do I need flood insurance?
7. My bank said I'm in the floodplain and have to buy insurance. I don't believe it. What can I do?
8. Who can prepare an Elevation Certificate?
9. What do I need to know if my building is in the floodplain?
10. If I own a repetitive loss property, are there grant funds available to mitigate against future flood losses?