Some people are unaware of just how costly a small amount of water can be on your home. While people may assume they are safe by having Homeowners or Renters Insurance, please be aware that neither of these policies usually include Flood Insurance. You don’t want to be caught without the right insurance. It’s important to protect your home and your personal belongings by including Flood Insurance.
Who Should Acquire A Policy?
Anybody can benefit from Flood Insurance, but some people may be required to have it if they live in an at-risk flood area. While you may never need to file a claim, it provides the peace of mind that you need. One instance of flooding can cause thousands of dollars in damages. Keep that in mind as you make the decision about whether or not to add this type of coverage to your policy.
What Does Flood Insurance Cover?
There are usually two types of coverage available, including building coverage and contents coverage. Of course, the building coverage covers the costs associated with the structure, and the contents coverage includes all of your belongings inside the building.
An example of building coverage may be electrical or plumbing systems. Contents coverage may be a washer and dryer. Many people elect to have both types of coverage. If you are unsure if you live in a high-risk flood location, then please reach out to a knowledgeable insurance broker to learn more.
In the event that you own your home, then your coverage would include your home as well as your belongings. Things that are covered include the electrical system, foundation, appliances, electronics, and other belongings.
Renters should make sure that their landlord carries Flood Insurance on the property. This is usually included with your lease information, but ask if you aren’t sure if there is an insurance policy in place. However, Rental Flood Insurance will cover the tenant’s personal property inside the home.
Commercial Flood Insurance policies offer protection for your business structure as well as the equipment.
Speak To A Professional Specialty Insurance
Are you considering Flood Insurance for your property? We are happy to help you with that decision. If you are unsure if you live in an at-risk area, we can help you find out that information. We are here to answer your questions and help you find the right policy for your needs. Please contact us today to learn more by giving us a call at 888.971.6304 or request a quote online today.