Let Bill Rowlen safely and securely guide you through the insurance marketplace. Most homeowners may not be aware that flood damage is not covered by a standard homeowner’s policy. In this article, we’ll provide some education and guidance for homeowners and give you some simple facts you should be aware […]
Let Bill Rowlen safely and securely guide you through the insurance marketplace.
Most homeowners may not be aware that flood damage is not covered by a standard homeowner’s policy. In this article, we’ll provide some education and guidance for homeowners and give you some simple facts you should be aware of when it comes to evaluating your insurance portfolio for the risk of flood damage.
Table of Contents
How is flood damage defined?
The National Flood Insurance Program has a technical definition of flood and you can find more information at https://www.floodsmart.gov/ Key highlights for homeowners to remember are that flood is usually associated with surface water and is a temporary condition impacting more than two properties. Flood damage is not covered under a standard homeowner’s policy.
How is flood damage different from other water damage?
Examples of water damage that are generally covered by standard homeowner’s insurance include wind damage from storms, burst or frozen pipes or overflowing toilets. Examples of flood damage include surface water damage after a heavy rain, a rising creek causing damage to a property or even an overflowing drainage canal or sewer.
Does my homeowner’s insurance policy cover flood damage?
A standard homeowner’s, landlord or renter’s policy does not typically include coverage for floods or damage caused by floods.
How can I get coverage for flood damage?
Insurance coverage for floods can be obtained by either obtaining a flood policy through FEMA’s National Flood Insurance Program, or by obtaining a policy from a private flood provider. If your Insurance Agent is certified to discuss coverage with you and writes flood insurance, you may be able to obtain a policy through the same agent that writes your homeowner’s policy. Not all agents are knowledgeable about flood risks however.
Do I need a flood policy even if I don’t live in a high-risk flood zone?
According to FEMA, 40% of flood insurance claims occur outside of high-risk flood zones. Even if you think you live in an area with low to moderate flood risk, you should understand what is covered and not covered so you can make an educated decision on obtaining flood insurance protection. We recommend starting a conversation with your independent insurance agent about adding flood coverage to your insurance portfolio.
Working with families as their trusted insurance advisor is what we do every day. Connect with us for an insurance review and to discuss any aspect of flood related insurance coverage.
At Flury-Hinderks Insurance, customer education is very important to us, and we are happy to take the time to review coverage and provide counsel for our customers. If you do not have a great relationship with your current insurance agency. Connect with us for an insurance portfolio review today.
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