If you don't have flood insurance, talk to your insurance agent. Homeowner's policies do not typically cover flood damage. However, because Corvallis participates in the National Flood Insurance Program (NFIP)
managed by the Federal Emergency Management Agency (FEMA)
, you can purchase a separate flood insurance policy backed by the federal government. This insurance is available to properties within the Corvallis city limits.
Some people purchased flood insurance because it was required by the bank when they got a mortgage or home improvement loan. Flood insurance for buildings within flood areas is mandatory for federal financing from agencies such as the Department of Veterans Affairs, Federal Housing Administration, Small Business Administration, Federal Deposit Insurance Corporation, Fannie Mae and Freddie Max. Usually these policies cover the building structure and not the contents. In many instances, more damage occurs to furniture and contents than to the structure. Look into your insurance and make sure you have appropriate coverage. Even if the last flood missed you, or you have done some flood-proofing, the next flood could be worse. Don't wait for the next flood to buy insurance protection. There is a 30-day waiting period before NFIP coverage takes effect.
Contact your insurance agent for more information on rates and coverage. For more information about the NFIP and flood insurance, call 1-800-427-4661, or contact your insurance company or agent.