Flood Insurance: What Is It?

You need flood insurance if you reside in a high-risk flood area because most homeowners’ insurance policies do not cover flood damage. Flood insurance only costs you a small amount of money, so it’s worth getting the coverage if you can afford it.

What Is Flood Insurance?

Flooding may occur when a hurricane storm surge, a river overflows its banks, or a heavy downpour accumulates faster than it drain. Because flood isn’t included on most home insurance policies, you’ll likely need to buy this coverage separately to protect your home’s structure and contents if floodwaters damage them.

What Does Flood Insurance Cover?

Purchasing flood insurance will help protect what you value most in your home. Here are what flood insurance covers.

  • Detached garages
  • Furnaces and water heaters
  • Permanently installed carpeting
  • Electrical and plumbing systems
  • Foundation walls, staircases, and anchorage systems
  • Water pumps and tanks and solar energy equipment
  • Cooking stoves, refrigerators, and built-in appliances
  • Permanently installed cabinets, paneling, and bookcases

What Isn’t Covered By Flood Insurance?

Flood insurance doesn’t protect flood damage that originates in your home. So if your sewer line backs up or your pipes leak and floods your basement, you won’t be covered for repairs or cleanup. Flood insurance won’t pay for damages to the following:

  • Cash
  • Precious metals
  • Trees and plants
  • Hot tubs and Pools
  • Patios and decks

How Much Does Flood Insurance Cost?

Flood insurance costs a few dollars, but the exact amount depends on the type of coverage you choose, deductible, the age of your building, and the risk level of your area. So talk to your agent to learn about purchasing flood insurance.

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