Who and What Properties Are Eligible for Flood Insurance?

As the owner of a home or a commercial property, you can purchase flood insurance to protect your structure and its contents. If you lease, you can buy it to protect the contents of the space you rent. At Kramer Agency, which serves Bismarck, ND, we sell this federally backed insurance.

Who May Buy Flood Insurance

Flood insurance is administered by the Federal Emergency Management Administration (FEMA). If your property is in an area that participates in the National Flood Insurance Program by abiding by its regulations, you can buy flood insurance.

Types of Properties Flood Insurance Covers

Flood insurance provides coverage for a wide variety of properties. They include apartment buildings, residential cooperatives and dormitories. Also on the list are:

  • Assisted-living facilities
  • Hotels, motels and tourist homes
  • Rooming houses
  • Condominium associations
  • Individual residential condominium units
  • Non-residential buildings
  • Buildings under construction (under certain circumstances)

Mobile Homes

Flood insurance is available for your mobile home or travel trailer if your home is attached to a permanent frame. Another requirement is that it be transported to its site in one or more pieces. Finally, any wheels on it must be removed.

Who Must Purchase Flood Insurance

The federal government requires that property owners in high-risk flood zones purchase flood insurance. Lenders who make federally regulated, supervised or insured loans mandate that their borrowers purchase flood insurance if they live in an area at high risk of flooding.


Some properties are not eligible for flood insurance. Among them are structures located wholly in or over water or those that are mainly below ground, if they were built after October 1, 1982.

Contact Kramer Agency for answers to your questions about flood insurance. Our insurance professionals, who serve Bismarck, ND, are here for you.