What is flood insurance?

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Flood insurance offers coverage to repair and or replace your home or business after a loss due to flooding. Flooding is a specific named exclusion on many homeowners and property insurance policies, so a separate policy is often needed to properly protect your investment. 

A flood is defined as an excess of water on land that normally would be dry, affecting two or more properties or two or more acres of land. It's important to know that damage must come directly from flood loss in order to use your flood insurance. 

Flood insurance covers direct losses to your building and your property. Typically there are two types of coverage within a flood insurance policy: Coverage A - Building, and Coverage B - Contents. 

Coverage A covers direct losses to the structure of your home or business. One inch of water can cause approximately $25,000 of damage. Insuring your building against flooding gives you coverage for damage to your drywall, foundation walls, electrical and plumbing systems, flooring, appliances and more. 

Coverage B covers direct losses to your belongings. Contents coverage offers protection for your furniture, clothing, removable appliances, office equipment, electronics and more. 

Private flood insurance often includes additional coverages, such as loss of use and coverage for detached structures in addition to covering the building and contents.

There are several options for flood insurance. Contact us to discuss your options to protect your home or business from the most common peril in the United States!