Do I need Flood Insurance?

Being a homeowner can be complicated and expensive. What would happen if your basement flooded? What would happen with more severe flooding that impacted floors of your home? Consider what you would need to repair and replace. Without the right flood insurance, any one of these incidents could be financially devastating. At Executive Southern Insurance, we want to help match you to the right coverage. Request a quote now to get started!

What Is Flood Insurance?

Whether you live in a coastal town, near a body of water, or even in a land-locked city, floods can happen in any location that receives rain. While rain can be unpredictable, your coverage for flood damages doesn’t have to be. Flood insurance generally covers losses caused by more severe types of water destruction, like heavy rain, snow melt, and severe storms.

We can help you find a flood insurance solution that’s right for your needs. Whatever your risk management needs are, our team of insurance professionals ensures that you get matched to the right coverage quickly and efficiently.

What Does Flood Insurance Typically Cover?

Flood insurance generally provides coverage for both the structure of the home (building coverage) and personal property in case of flood damage (content coverage).

Flood insurance policies typically cover losses caused by flood to:

• Electrical and plumbing systems
• Furnaces and water heaters
• Refrigerators, cooking stoves, and built-in appliances like dishwashers
• Permanently installed carpeting
• Permanently installed cabinets, paneling, and bookcases
  Window blinds
• Foundation walls, anchorage systems, and staircases
• Detached garages
• Fuel tanks, well water tanks and pumps, and solar energy equipment

There are typical exclusions to consider as well. Flood insurance generally excludes coverage for losses to decks and patios, seawalls, fences, hot tubs and pools, property outside of the insured building, wells, septic systems, currency, landscaping, jewelry and papers like stock certificates.

Does homeowners insurance cover flood damage?

Most standard homeowners insurance policies don’t cover flood damage claims. If a property owner lives in a designated flood zone or an area that is prone to flooding, they may be required to purchase flood insurance by their lender.

Does federal disaster assistance pay for flood damage?

Even if a homeowner does not have flood insurance, they may be able to get limited federal disaster assistance for flood damage. However, federal disaster assistance is only available if the President formally declares a disaster. Furthermore, federal disaster assistance is provided as a loan which must be paid back with interest. Flood insurance, however, will typically cover damages even if a disaster has not been declared.

How much will a policy cost you? Find out ASAP!