What Does Flood Insurance Cover?

Floods are considered natural disasters. When these natural disasters occur, they often wipe out land and property and sometimes cause death as well. However, flooding is usually not covered under most homeowners and condo insurance policies. It is usually something that must be purchased separately. 

What Is Flood Insurance?

Flood insurance is specific property insurance designed to cover property that has been damaged or affected by flooding. It also covers your belongings inside a dwelling that has sustained water damage. This insurance is designed to protect both residential homes and property, as well as commercial homes and property. Not all home and business owners are required to carry this type of insurance. Typically, owners with federally regulated lenders/mortgages on properties located in high-risk flood zones are required to carry this type of insurance. However, many home and business owners elect to carry this insurance anyway. FEMA regulates the National Flood Insurance Program or NFIP. Client First Insurance Solutions of Americus, GA is dedicated to helping both home and business owners understand flood insurance and its benefits.

What Does Flood Insurance Cover?

Like homeowners insurance, flood insurance is designed to protect the structure of your home in addition to your personal belongings. However, this type of insurance is specifically designed to protect your belongings when they have sustained water damage from flooding. A flood is defined as a large amount of water on property or land that would otherwise be dry under normal circumstances. A flood is considered a disaster if two or more properties or acres have sustained damage as a result of the excess water. Flood insurance is designed to repair and or compensate you for your damaged home, business, and belongings. However, there are scenarios in which water damage may occur that aren’t covered by flood insurance. Flooding can cause land movement and other situations that aren’t covered by flood insurance. Also, moisture, mildew, and mold aren’t conditions covered under flood insurance. These conditions aren’t necessarily directly attributable to flooding.

We look forward to answering any questions you may have about flood insurance. Please give us a call. We’re here to help.