According to FEMA, misinformation about flood risk and the NFIP falls into several categories. Here are 5 misconceptions followed by the facts:

#1 Misconception: You can only buy flood insurance if you are located in a high-risk flood area.

Fact: There are no restrictions on who can purchase a flood insurance policy, however, the majority of those who purchase flood insurance, live in areas affected by flooding. For property located in a Special Flood Hazard Area (SFHA) -- an area with a 1 percent chance of flooding in any year -- lenders usually require borrowers to purchase flood insurance as a condition of receiving a federally-backed mortgage loan.

#2 Misconception: You can't buy flood insurance immediately before or during a flood.

Fact: You can purchase flood insurance at any time. There is usually a 30-day waiting period after you've applied and paid the premium before the policy is effective.

#3 Misconception: Flood insurance is only available for homeowners.

Fact: Flood insurance can provide up to $100,000 of coverage for the contents of any residential building, which includes the contents of a renter's residence.

#4 Misconception: Homeowners insurance will pay to repair and replace property that is damaged by flooding.

Fact: Unfortunately, many homeowners do not find out until it is too late that their standard homeowners policy excludes any coverage due to water damage from flooding.

#5 Misconception: Only residents of high-risk flood zones need to insure their property.

Fact: One-third of NFIP insurance claims involve property not located in an area identified as a high-risk zone. Even if you live in an area which is not flood-prone, it's advisable to have flood insurance. Flooding can be caused by extreme weather events such as heavy rainfall or hurricanes as well as new developments which decrease ground absorption of water.

At Apron Agencies, we are here to educate you and clear up any misconceptions about insurance coverage. We strive on making sure our clients have the right coverage at the right price! Call us today at 504-416-0237 or visit our website at www.apronagencies.com.

Apron Agencies, "Like momma in the kitchen, we got you covered".