Flooding occurs in all 50 states and is the number one natural disaster in the U.S.
Most homeowner policies exclude coverage for mud slides and flood-related losses
Flood insurance may be mandated by your mortgage company
Over 20% of claims filed arise from individuals located in zones designated as low-risk for flooding
Rates are regulated by the federal government. As a result, rates will not differ among insurance companies or agents. Factors that impact your premium include your flood zone type, type of foundation, number of floors, date your home was built, location of contents, and coverage limits.
Coverage / Limits
The National Flood Insurance Program (NFIP) will provide up to $250,000 for your home and $100,000 for your personal belongings. Some private insurance companies offer excess flood insurance protection, allowing you to obtain additional coverage above those offered by the NFIP.
In addition to the actual structure and foundation, building coverage extends to items that service your home such as heating systems, plumbing, and electrical systems.
Clothing and furniture are covered as well as microwaves, dishwashers, freezers, and air conditioners. Building and contents have separate deductibles.
Who Can Purchase Flood Insurance?
Flood insurance is available for homeowners, renters, or condominium owners.