National Flood Insurance Program (NFIP)
The City of Eugene participates in the National Flood Insurance Program(NFIP) which provides affordable insurance to property owners and encourages communities to adopt and enforce floodplain management regulations that will reduce the socio-economic impact from flood effects.
In order to participate in the NFIP, the City must ensure that new construction and/or substantial improvement of existing structures complies with local floodplain regulations. Property owners provide an Elevation Certificate to help the City determine compliance with local ordinances and to help insurance providers determine proper insurance premiums. Elevation Certificates must be prepared by a licensed engineer or surveyor in the State of Oregon.
Elevation certificates are also used to support requests for map changes including Letter of Map Amendment (LOMA) and Letter of Map Amendment based on fill (LOMR-F). If you feel a NFIP map is in error because your property is above the base flood elevation (naturally or by use of fill), you may request a LOMA or LOMR-F from the Federal Emergency Management Agency. These letters establish a property’s location in relation to the Special Flood Hazard Areas (SFHA) - they are an official amendment, by letter, to an effective NFIP map.
Flood Insurance Protection
Standard homeowners’ insurance does not cover floods. Separate flood insurance is available for structures, as well as for contents. Even areas outside the Special Flood Hazard Area (SFHA) are eligible for flood insurance.
Why do you need flood insurance?
- Standard property insurance polices do not cover flood damage.
- There is a 26% chance that a structure within the flood hazard area be damaged during a 30 year mortgage period - compared to a 10% chance of fire damage during the same period of time.
- Structures outside of a designated flood hazard area can be damaged by a flood event.
When flood insurance is required
Flood insurance is mandatory for federally secured financing to buy, build, or improve a structure within the Special Flood Hazard Area (SFHA). The insurance must be maintained for the life of the loan. The vast majority of mortgages are federally backed in some way. Lenders are responsible for determining whether a structure is located within the SFHA for flood insurance purposes.
- Flood damage is not covered by homeowners’ policies. NFIP insurance can be purchased to protect homes, businesses, and belongings. Flood insurance is available for residential properties in amounts up to $250,000 for the building and $100,000 for contents. Insurance is also available for nonresidential properties, up to $500,000 for buildings and $500,000 for contents.
- Because the City of Eugene participates in the NFIP program, individuals may purchase flood insurance regardless of whether their flood risk is high, medium, or low.
- There is a 30-day waiting period before the coverage goes into effect. Flood insurance should be purchased before a flood threatens a home or business.
- Federal disaster assistance is only available in the event of a Presidential disaster declaration. More than 90 percent of all disasters in the United States do not receive such a declaration. Also, most all of the disaster assistance available to rebuild is in the form of low interest loans. Many applicants may not qualify and, like all loans, they must be paid back. Flood insurance pays, even if a disaster is not declared!
Flood Information Assistance
The City of Eugene provides free information regarding flood hazards for specific sites within the community and can answer many of your flood-related questions. Staff can assist with flood protection and mitigation design questions and with local flooding concerns. And we can make site visits.