In the Wake of the Atlantic Hurricanes, Everything You Need to Know about Flood Insurance

No one expects 52” of rain or 150 mile per hour winds, but when that happens, we all live in a flood zone.

If you DO NOT have property in a designated flood zone, or DO NOT live near a body of water, you may not think you need flood insurance, but think again! Here are the facts you need to know about flood insurance.

A small amount to pay for peace of mind.

For around $500 per year, you can be assured that if the next big storm hits our area, you will be protected with flood insurance. This type of insurance can take up to 30-days to activate, so we encourage you to act soon.

Your homeowners insurance does not cover flooding.

Standard homeowners and renters insurance policies DO NOT cover flood damage, including damage from a storm surge. Flood coverage requires a separate policy from the federal government’s National Flood Insurance Program (NFIP), or from some private insurers.

However, your homeowners policy does cover damage from windstorms and hurricanes to your residence and attached structures, such as a garage or deck, and “other structures” that are unattached, such as a separate garage building or shed and swimming pools. The policy extends coverage for damage to contents within your home

What if you rent or own a condo?

Like a standard homeowners policy, a renters policy covers personal belongings that are damaged by wind from the storm. Damage from flooding is NOT covered under renters policies, but a separate renters flood policy can be purchased from the NFIP.  Damage unrelated to your personal possessions, such as part of the apartment’s structure like the walls and floor is the responsibility of the Building Owner’s Policy.  You should request a copy of the master policy to better understand what is covered.

Is my car covered in a flood?

Flood damage to vehicles IS covered if you purchased comprehensive coverage, which is optional with a standard auto policy.

If you live in a moderate-to-low risk area, you may be eligible for a preferred risk flood policy for a very low cost per year. Remember, just a few inches of flooding can cause tens of thousands of dollars in damage and is not covered by your homeowners or business insurance. Therefore, we suggest adding flood insurance to your current homeowners or business policy.

If you have specific questions about flood insurance, please call one of our helpful agents at Butler & Messier at 401.728.3200.