Flood Insurance: What’s Covered on a personal flood insurance policy?
The insured building/foundation
Electrical and plumbing systems
Central air conditioning equipment, furnaces, water heaters
Refrigerators, cooking stoves and built-in appliances, such as dishwashers
Permanently installed carpeting over unfinished flooring
Permanently installed paneling, wallboard, bookcases and cabinets
Detached garages (up to 10 percent of building property coverage); detached buildings (other than garages) require a separate building property policy.
Personal Contents Property
Personal belongings, such as clothing, furniture, and electronic equipment
Portable and window air conditioners
Portable microwave ovens and portable dishwashers
Carpets that are not included in building coverage
Clothing washers and dryers
Food freezers and the food in them
Certain valuable items such as original artwork and furs (up to $2,500)
Flood Insurance: What’s Not Covered
-Damages caused by moisture, mildew or mold that could have been avoided by the property owner
-Currency, precious metals, and valuable papers such as stock certificates
-Property and belongings outside of an insured building, such as trees, plants, wells, septic systems, walks, decks, patios, fences, seawalls, hot tubs, and swimming pools
-Living expenses such as temporary housing
-Financial losses caused by business interruption or loss of use of insured property
-Most self-propelled vehicles such as cars, including their parts
-Flood Insurance for Basements and Areas Below the Lowest Floor
Coverage is limited in basements, regardless of zone or date of construction. It’s also limited in areas below the lowest elevated floor, depending on the flood zone and date of construction.
These areas include:
-Crawl spaces under an elevated building
-Enclosed areas beneath buildings elevated on full-story foundation walls that are sometimes referred to as “walkout basements”
-Enclosed areas under other types of elevated buildings
What is Flash Flooding. A flash flood is a rapid flooding of low-lying areas in less than six hours, which is caused by intense rainfall from a thunderstorm or several thunderstorms. Flash floods can also occur when there are drought-like conditions.
A flood does not have to be a catastrophic event to bring high out of pocket costs, and you don’t have to live in a high risk flood area to suffer flood damage. Around twenty percent of flood insurance claims occur in moderate to low risk zones.
Only flood insurance covers flood damage. Most standard homeowners insurance policies do not cover flood damage. Important to Remember: it typically takes 30 days for a new flood insurance policy to go into effect, so get your policy now or as soon as possible. Flood insurance is also affordable. An average flood policy costs around $600 a year, and rates start at just $129 a year for homes in moderate to low risk areas.
Flood Insurance licensed FEMA Certified screened agents available.