Homeowner's insurance policies do not cover damage from floods, so flood insurance must be purchased to cover this eventuality.
National Flood Insurance Program
Chickasha participates in the National Flood Insurance Program (NFIP), administered by the Federal Emergency Management Agency (FEMA). Chickasha's participation makes available federally backed and reasonably priced insurance available to its citizens.
All properties in the Special Flood Hazard Area (SFHA) are required to purchase flood insurance. Since 25% of flood damage occurs in properties, not in a high-risk zone, it may also be a good idea to purchase flood insurance even if you are not in an SFHA.
The National Flood Insurance Program (NFIP) offers federally backed flood insurance in communities that comply with the minimum standards for floodplain management. The NFIP imposes a 30-day waiting period after the purchase of flood insurance, so it is important to purchase flood insurance before the beginning of the rainy season to protect your home in the event of a flood.
NFIP policies can also help provide funding to assist in bringing structures into current building standards to reduce the risk of flood damage.
Chickasha's participation in the NFIP is determined by the city's work in managing its floodplain in ways that meet or exceed standards set by FEMA. When communities go beyond the minimum standards for floodplain management, the NFIP's Community Rating System (CRS) provides discounts off flood insurance premiums for policyholders in that community.
Chickasha has currently rated a CRS Class 8 Community, giving policyholders in an SFHA a 10% discount on their premiums, and those not in an SFHA a 10% discount.
The city also maintains a library of Elevation Certificates, which are available both online and at the City of Chickasha Emergency Management Office. Elevation Certificates establish the elevation of a structure's lowest level with respect to the base flood elevation in the area. Elevation Certificates are required for all new construction and substantial improvements in the Special Flood Hazard Area.