Our Flood Insurance Coverage
Flood damage can be very expensive, even if just an inch or two of water makes its way into your home. A flood could cause you to lose most — if not all — of your possessions and be left with nowhere to live as your home faces significant reconstruction work. That’s not a risk most people can afford to take.
Flood insurance comes from the National Flood Insurance Program, or NFIP, a federally regulated program that offers two policies. One will cover your actual home building and the other covers personal property. You can buy one or both types of coverage, and depending on where you live, you may even be required to buy it. For example, if you are getting a mortgage on a property situated in a high-risk zone, your lender will require you to get a policy to qualify for the loan.
Building Property Policy Coverage
The NFIP’ Building Property Policy covers the cost of rebuilding your home or its actual value, whichever is lower. This includes:
- Your home
- Your home’s foundation
- Air conditioning, water heaters, furnaces and other HVAC equipment
- Plumbing systems
- Electrical systems
- Kitchen appliances, including built-in appliances
- Permanently installed wall board, bookcases, cabinets and paneling
- Permanently installed carpeting over unfinished floors
- Detached garages
- Window blinds
- Water heater
- Debris removal
Personal Property Coverage
The NFIP’s Personal Property Coverage includes:
- Furniture
- Electronic equipment
- Curtains
- Clothing
- Portable dishwashers and microwaves
- Window air conditioning units
- Washers
- Dryers
- Freezers
- Up to $2500 worth of valuables, such as furs and art
These personal possessions claims will be paid out based on the actual cash value of the items involved rather than what you paid when you acquired them.
What Is Not Covered?
There is a range of items that are not covered by flood insurance. These include:
- Cash
- Stock certificates
- Precious metals
- Trees
- Plants
- Septic systems
- Wells
- Decks
- Patios
- Walkways
- Swimming pools
- Hot tubs
- Retaining walls
- Cars
- Post-flooding mold damage
- Fences
- Sewer backups
- Temporary housing and other living expenses
- Loss of income
Keep in mind that the NFIP limits coverage for any living space with a floor that is below ground level, including crawl spaces and basements. This means that the personal property in your basement as well as any floor coverings, drywall, paneling and bookcases, will not be covered.
What Is Considered A Flood By The NFIP?
Damage is considered to be caused by a flood if it involves water that covers at least two acres of land that is normally dry or has damaged two or more properties including your own.
The water must come from overflowing tidal or inland waters; an unusual or rapid accumulation or runoff involving surface waters that come from any source; or mudflow.
It is also considered a flood for insurance purposes when shorefront land collapses or sinks because waters have risen above anticipated cyclical levels.
Contact The Flood Insurance Professionals At Burton & Company
A flood can be devastating, but it doesn’t have to drain your finances. Get in touch with Burton & Company to find out how our flood insurance policies can help you minimize the financial impact of rising waters. Call (888) 652-1325 or request a quote online to get started with flood insurance today.
