Protect Your Property: Flood Insurance is Vital in New Mexico

SANTA FE, New Mexico — A single inch of floodwater can cause up to $25,000 of damage to a home, and can occur anywhere and often catches homeowners, renters, and business owners by surprise, leaving them unprepared and vulnerable.   

When buying or renting a home or managing a business, we often overlook other programs or services that we may need to protect our property. Many people assume their homeowner’s or renter’s insurance covers flooding. However, most standard policies do not. 

Many Chaves County residents and business owners whose property was damaged by the Oct. 19-20, severe storm and flooding only found out too late that most hazard insurance policies do not cover flood damage. 

Flood insurance is a separate policy that can cover buildings, the contents of a building, or both. So, it is important to protect your most important financial assets — your home, your business and your possessions.   

Flood insurance gives you financial protection and peace of mind. Whether it’s a major flood event or a few inches of water in your home, flood insurance helps you protect the life you’ve built.  

NFIP coverage is valid in all floods, regardless of federal disaster declarations. NFIP coverage is available to homeowners, renters and businesses for residential and commercial buildings:  

• Up to $250,000 in building coverage and up to $100,000 in contents coverage for single-to-four family residential structures.  
• Up to $500,000 in building coverage and up to $100,000 in contents coverage for five-or-more family residential structures. 
• Up to $500,000 in building coverage and up to $500,000 in contents coverage for businesses.

Call Your Insurance Agent or Company Today  

Whether you’re buying a new policy or renewing an existing policy, you can buy NFIP insurance by calling your insurance company or calling your local independent agent, who can write a flood insurance policy directly with NFIP. There is a 30-day waiting period before new policies go into effect, so it’s important to act promptly to avoid delays.  

Need Help Finding an Insurance Provider?  

The FEMA flood insurance program partners with more than 50 private insurance companies and NFIP Direct to sell and service flood insurance policies. 

To find a list of flood insurance writers in New Mexico, visit: http://www.floodsmart.gov/flood-insurance-provider?. For more information about NFIP, to find out if you live in a participating community, and what’s covered by NFIP policies, contact your private insurance provider or visit FloodSmart.gov.  

For the latest information on New Mexico’s recovery visit fema.gov/disaster/4843. Follow the FEMA Region 6 X account at X.com/FEMARegion6 or on Facebook at facebook.com/FEMARegion6.