Personal Flood Insurance
Flood insurance is basically confusing. But it doesn’t have to be. Our agency’s professional review and policy placement can take all your questions and turn them into solutions. We work flood insurance into your overall homeowners insurance protection to make sure you have the structure and contents coverage you need.
Even if you don’t live near a body of water, you could still be harmed by flooding. A sewer backup that is the direct result of floodwaters is covered by a flood insurance policy. So is water that comes in under doors because of unusual or rapid accumulation of surface waters. Don’t have flood insurance? Your standard homeowners or renters insurance or condo insurance policy won’t cover these things. They are excluded.
Choosing the right deductible is an important part in getting the right flood coverage, and building a policy properly includes looking at overall financial capacity of homeowners as well as their needs—be they structural or personal belongings-related. To be sure, floods can destroy the foundation of a home, but many people whose structures survive lose tens of thousands of dollars in destroyed possessions. If your policy isn’t designed properly, that’s completely uncovered value going down the drain.
Interior Losses Due to Flood
Keep in mind that water, and especially salt water, can wreak havoc on your electricity—inside your walls! The costs to pull all that wiring and wallboard can be steep, even before you add in damage to air-conditioning units, furnaces, water heaters and laundry machines, which are often kept on the ground floor of homes. Carpeting, other flooring, cabinetry, bookcases, wallboard…the list keeps going of items that are usually damaged by floods. Our flood insurance policies, often written through National Flood Insurance Program partners, can help with all these losses as well as damage to detached structures on your property.
We can even cover debris removal costs, valuable rugs or antiques, and personal belongings such as clothing and electronics. And most NFIP policies also include increased cost of compliance coverage, which means you could have up to $30,000 in coverage for costs to elevate, demolish or relocate your home if flood damage is severe.