Flood Insurance

Do You Need Flood Protection?

Just a few inches of water from a flood can cause tens of thousands of dollars in damage. Over the past 10 years, the average flood claim has amounted to over $33,000.

IS THERE COVERAGE IN A HOMEOWNERS POLICY? No. It is a separate policy. Flood insurance is available to homeowners, renters, condo owners/renters, and commercial owners/renters. Costs vary depending on how much insurance is purchased, what it covers, and the property’s flood risk.

Many conditions can result in a flood: hurricanes, broken levees, outdated or clogged drainage systems and rapid accumulation of rainfall or rising rivers after heavy rains or fast melting snow pack.

Just because you haven’t experienced a flood in the past, doesn’t mean you won’t in the future. Flood risk isn’t just based on history, it’s also based on a number of factors: such as rainfall, river-flow and tidal-surge data, topography, flood-control measures, and changes due to building and development. New development miles upstream can create flooding in your area.

Flood-hazard maps have been created to show different degrees of risk for your community, which help determine the cost of flood insurance. The lower the degree of risk, the lower the flood insurance premium.

Flood insurance policies cover physical damage to your property (Buildings) and possessions (contents). You can use the following list as a general guide to what is and isn’t covered.
Building Property
The insured building and its foundation
Electrical and plumbing systems
Central air conditioning equipment, furnaces, and water heaters
Refrigerators, cooking stoves, and built-in appliances such as dishwashers
Permanently installed carpeting over unfinished flooring
Permanently installed paneling, wallboard, bookcases, and cabinets
Window blinds
Detached garages (up to 10 percent of Building Property coverage) Detached buildings (other than garages) require a separate Building Property policy
Debris removal
Personal Contents Property
Personal belongings, such as clothing, furniture, and electronic equipment
Portable and window air conditioners
Portable microwave ovens and portable dishwashers
Carpets that are not included in building coverage
Clothing washers and dryers
Food freezers and the food in them
Certain valuable items such as original artwork and furs (up to $2,500)

What’s Not Covered:
Damage caused by moisture, mildew, or mold that could have been avoided by the property owner
Currency, precious metals, and valuable papers such as stock certificates
Property and belongings outside of an insured building such as trees, plants, wells, septic systems, walks, decks, patios, fences, seawalls, hot tubs, and swimming pools
Living expenses such as temporary housing
Financial losses caused by business interruption or loss of use of insured property
Most self-propelled vehicles such as cars, including their parts (see Section IV.5 in your policy)
Flood Insurance for Basements and Areas Below the Lowest Elevated Floor

Coverage is limited in basements regardless of zone or date of construction. It’s also limited in areas below the lowest elevated floor, depending on the flood zone and date of construction. These areas include:
Crawlspaces under an elevated building
Enclosed areas beneath buildings elevated on full-story foundation walls that are sometimes referred to as “walkout basements”
Enclosed areas under other types of elevated buildings
Make sure to ask for additional details on your basement coverage.

Contact Solutions Insurance Agencies to find out if you need a Flood policy for your home or business.