Few things are more important than having the right insurance coverage. About ten years ago, I was involved in a near-fatal crash where I experienced traumatic physical and emotional injuries. It was really challenging for me to endure the hospital stay and subsequent physical rehabilitation, but with the help of my medical team and my insurance company, I was able to overcome the challenge and completely recover. This blog is all about the importance of choosing the right insurance plan so that you can get on with your life and enjoy those precious years with your family and your friends.
Do you know what counts as a flood when it comes to home insurance? When a home has water in it, your insurance company has criteria that help determine if it is considered a flood or just water damage. If you do not know the answer, you may be surprised by what your insurance company decides for you.
Flood vs. Water Damage
It is common for a standard home insurance policy to not cover any type of flooding but to provide coverage for water damage. These are situations where natural flooding did not cause water to get into your home, and the damage was not something you could prevent.
For instance, if a water pipe burst during the winter and causes several inches of water to build up in your basement, chances are that you may say your basement flooded. You home insurance would likely consider it water damage and cover it after you pay your deductible.
It is considered flooding if the water from a nearby water source or rainwater gets into your home from the outside. This can be from a local river that has rising water levels and floods the nearby area, or a heavy rainstorm that causes water to get into your basement window wells because there is so much of it.
Covering Flood Damage
The only way to have protection from a flood is to specifically get flood insurance. This additional insurance policy has two kinds of coverage; one is for your building and the other is for your personal property inside the building.
Areas that are currently at high-risk of flooding, which are identified by FEMA on a local flood map, will likely require you to purchase flood insurance with your basic homeowners policy. If you are a renter, your landlord may be required to have insurance covering the property, but you should look into whether or not it covers the personal property inside the home.
Even if you do not live in an area that is high-risk, you are not always safe from flooding. Do not make the mistake of assuming you do not need insurance; instead, check with your insurance agent to find out what your risk is. If you do not have the cash on hand to cover the damage caused by flooding, you should look into getting flood insurance to provide coverage for unexpected heavy storms.
Talk to a company like Dave Johnson Insurance, Inc. for more information on flood insurance.
Share7 July 2016
