You are eligible for federal flood insurance because Augusta, GA participates in the National Flood Insurance Program
(NFIP), administered by the Federal Emergency Management Agency
(FEMA). If the Flood Insurance Rate Map (FIRM) shows that a property is in a Special Flood Hazard Area, which includes all A-zones, flood insurance is required by law in order to get federally secured financing to buy, build, or improve structures on that property.
Maximum flood insurance coverage is $250,000 for residential properties and $500,000 for commercial properties with content coverage maxing out at $100,000 coverage for residential properties and $500,000 for commercial properties. The standard flood insurance policy provides coverage for one structure per policy. The only exception is 10 percent coverage for a detached garage. However, the total payment for flood damage to the detached garage and the house together cannot exceed the structure policy limit. For coverage to apply, the garage can only be used for parking and storage. Any other use would void this coverage; for example, if the garage has a workshop, the coverage would not apply. All other structures on the premises need separate coverage. There is generally a 30-day waiting period once you apply, so don’t wait until a flood is coming to apply for flood insurance coverage. Flood insurance can be purchased from any licensed property or casualty insurance agent, broker, or company.