A homeowners policy will never cover costs of floods or a number of other catastrophic accidents. It's too difficult to predict the total cost of flood damage (or damage by other natural disasters) to homes each year. 

Your mortgage lender may require you to have a policy if your property is located in an area deemed to be at high risk of flooding. However, even properties that are not in designated high-risk areas may require coverage. 

But remember ALL property is in a FLOOD ZONE. Many of the catastrophic floods our nation has seen in recent years has been in places that were not considered to be in “high risk” areas for floods.

Floods cause millions of dollars in damage each year. And they are the most common natural disaster in the US. Water damage is also pricey. 

As little as one inch of water in a home can cost as much as $21,000. Having coverage could mean the difference between financial devastation and being able to rest easy should a storm hit your area. 

Flood insurance policies are similar to homeowner’s insurance policies: both exist to protect both your home and your stuff. The difference is that it's there to cushion the financial blow should your property become flooded by a natural water source. It does not, however, completely restore you the way a homeowner’s policy with replacement cost coverage would.

Flood insurance will specifically cover:

• Damage to/loss of your home: Including the foundation of the structure, electrical systems, indoor plumbing, built-in appliances and additional flooring installed – e.g. carpeting.
• Damage to/loss of your stuff: Including furniture (built-in and free-standing), smaller/not built-in appliances, some food, valuables and clothing.

*Any depreciation of your property's value will be factored into what the insurance policy pays towards reimbursement for damages.

Contact us for more information.