Flood Insurance

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Floods are a concern for more than just waterfront homeowners. Floods can occur during a tornado, earthquake, hurricane, or even during a torrential thunderstorm. Most homeowners are unaware that flood is not covered under their homeowner’s policy. Flooding is a common natural disaster. FEMA estimates that even one inch of floodwater can cause more than $7,500 in damage to a home. 

What’s covered by Flood Insurance?

What’s covered by Flood Insurance?

Most commercial flood insurance policies can provide the following coverages:

  • Building Coverage:
    • The home itself
    • Damage to the foundation
    • Electrical and plumbing systems
    • HVAC equipment
    • Flooring
    • Any built-in appliances, blinds, or walls
  • Contents Coverage:
    • Personal property items: clothing, furniture, electronics, portable appliances, etc.

It’s important to remember that personal flood insurance can be obtained even if your lender doesn’t require you to have it. Over 20% of flood claims come from properties outside of high-risk flood zones making it important to consider flood coverage at any location.

Homeowners Policies Don't Cover Flooding

Homeowners Policies Don't Cover Flooding

When it comes to protecting your home from the devastating effects of flooding, it's important to understand that standard homeowners insurance policies typically do not provide coverage for flood damage. This means that if your property is at risk of flooding, you need to consider obtaining separate flood insurance coverage.

There are two separate types of flood coverage you can obtain: Government Funded Coverage through the NFIP or Private Flood Insurance. 

NFIP vs. Private Flood Insurance

NFIP vs. Private Flood Insurance

When considering flood insurance options, it's important to understand the differences between the National Flood Insurance Program (NFIP) and private flood insurance. While both options provide coverage against flood damage, private flood insurance offers distinct advantages. First, private flood insurance eliminates concerns about government shutdowns. Unlike the NFIP, which operates under the federal government, private insurers are not subject to the same funding uncertainties. This means that private flood insurance policies remain in effect and claims can be processed even during government shutdowns. Second, private flood insurance often offers coverage limits beyond the $250,000 limit imposed by the NFIP. This means that homeowners with higher-valued properties can obtain adequate coverage to protect their investment. With private flood insurance, you can have peace of mind knowing that your home and belongings are safeguarded without the limitations imposed by the NFIP.

Why We’re Different

While most insurance products are similar in price and function, insurance providers vary when it comes to structuring a policy tailored to you.

After all, there’s no such things as a one-size fits all insurance policy when it comes to your business.

Contact us today, and we’ll help you protect what matters most.

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