The City of Lambertville participates in the National Flood Insurance Program (NFIP) so that residents can protect their property and possessions from flood hazards. Homeowner’s policies do not cover damage from floods. Flood insurance is only available to residents of communities that actively participate in the NFIP. If you do not currently have an NFIP policy, your insurance agent can provide information on flood insurance. The City of Lambertville has joined the Community Rating System (CRS), which provides discounts for flood insurance premiums within the Special Flood Hazard Area or 100-year floodplain. The City is currently a Class 8 community, meaning that holders of flood insurance in the Special Flood Hazard Area (1% annual chance of occurrence or commonly called the” 100-year floodplain”) receive a 10% discount on new and renewed policies.

If you currently own a flood insurance policy, check the coverage. Most standard policies cover the building structure, but not the contents. Contents insurance can be obtained by checking with your insurance agent. There is a 30-day waiting period before flood insurance coverage takes effect. It is best to plan ahead; do not wait until a flood is imminent before purchasing flood insurance. All buildings within the floodplain that have a loan or mortgage from a federally regulated/insured bank are legally required to require a flood insurance policy for the structure. Flood Insurance rates will be going up in the next few years as Congress has authorized FEMA to increase annual rates by 20%; other increases will be due to reductions in subsidies for certain properties. Be sure to maintain your flood insurance coverage to lessen your increase! Lapsed policies now getting discounts will increase to actuarial rates.