What is Flood Insurance Coverage?
Flood can cause massive damage to a home. Flood insurance protects a structure and its contents from water damage caused by a flood, which is technically defined as a temporary condition where two or more acres of normally dry land are inundated by water or mudflow. Homeowners insurance does not cover damages caused by a flood, so anyone with a home in an area susceptible to flooding should consider purchasing flood insurance.
Typically, Flood Insurance includes two distinct coverages – structural and content. If you purchase a flood insurance policy, make sure you look closely at the individual categories of the contents in your home. It's crucial to be aware of the estimated value of items total for each category, and what your coverage limit is for each one. Certain categories might have limits well below the total value of the possessions you own that qualify. In addition, it is important to catalog your contents and their value, to be prepared for a possible loss.
Depending on your Flood Zone and home location, you may be required to maintain Flood Insurance. We can help you determine your eligibility and requirements.