Flood Insurance Coverage
Flood insurance protects your home from damage caused by flooding. This insurance is offered by the National Flood Insurance Program (NFIP), which sets the rates, determines what items are covered and pays any claims. You can choose the coverage amount, up to $250,000, and may buy additional policies to cover a building's contents (up to $100,000) or additional buildings you may have on your property.
You also can ask your agent about Excess Flood Protection policies for protection above what NFIP provides.
Building coverage basics
Building property flood insurance coverage will pay for damage from flood waters or mudslides. It includes:
- the building
- the foundation
- electrical system
- plumbing system
- furnace and central air system
- water heater
- permanently installed items, such as dishwashers, carpeting, paneling, bookcases or cabinets
- large appliances, such as refrigerators and stoves
- window blinds
Building flood insurance coverage will also pay for removal of debris after cleanup.
Each flood insurance policy covers only one building. If you want other buildings on your property insured, you will need to buy separate policies for each of them. The exception is a detached garage, which is covered at up to 10 percent of your building coverage.
If you know a flood is coming and take steps to prevent damage to your insured home, like buying sandbags, you also may receive up to $1,000 in reimbursement for these expenses.
Contents coverage basics
Personal contents flood insurance coverage insures most other contents of the building, including:
- portable appliances, including microwaves, washers, dryers and window air-conditioning units
- freestanding freezers and their contents
- some valuables, such as artwork, up to $2500 (similar to a standard homeowner's policy)
You only receive actual value replacement coverage for a building's contents.
Flood insurance coverage does not pay for all items or all damage. Exclusions include:
- avoidable moisture-related damage like mold or mildew
- damage from water sources other than a flood, such as wind-driven rain or a sewer backup not caused by flood waters
- certain valuables, such as precious metals, currency and stock certificates
- damage to outdoor property and belongings, such as trees, decks or swimming pools
- temporary housing expenses
- financial losses not directly attributable to property damage
- cars or other vehicles
If you have a basement, crawl space or other enclosed area under your home, flood coverage is limited in those areas. Most personal property stored there is not covered, nor are floor coverings or furniture. Appliances, drywall and sump pumps may be covered, however. Talk to your agent to be sure you know what’s included in your flood insurance coverage.
Having flood insurance means you can recover faster after a flood. Anyone without a policy should talk to an agent and get a free flood insurance quote today.
For a free flood insurance quote please call .