Flood Insurance

Flood Insurance for Your Home

The aftermath of a flood can destroy your home. This is even more of a threat if you live in a flood zone. A typical homeowner’s insurance policy does not include flood damage. This means if your home is damaged from a flood, overflowing or clogged storm drain, mudslide, or water main break you will not have insurance assistance. Flood coverage is specialized insurance specifically for repairing your home following a flood caused by a natural disaster or other event outside your home.

Homeowner’s insurance does cover some water damage, but it does not cover damage from floods. You have to remember that there is a difference between general water damage and flood damage. Flood damage is caused by things such as an overflowing stream, lake, or river.

Where to Get Coverage?

The federal government funds a program that offers two types of flood policies with up to $250,000 in coverage. If you have property in a high-risk flood area, then you will likely be required to purchase a policy. You can also buy a second or supplemental policy that offers coverage exceeding the federal program limits.

You will be able to get coverage that protects your home’s structure and personal belongings. There is also replacement cost coverage that reimburses you for the cost of replacing your home.

Most people do not purchase flood insurance. But it is important to have if you live in a flood zone. It is the only insurance that will protect you following a flood. Speak with your insurance agent to learn what options are open to you.