FLOOD INSURANCE

   Many homeowners are surprised to learn their homeowner’s insurance policies don’t cover flooding events. That’s right: most homeowners policies won’t cover flood damage. This fact puts residents, so many of whom live on or near Gulf Coast floodplains, in a tricky position. For such homeowners, adequate flood insurance isn’t optional; it’s a necessity!

Since standard home insurance doesn't cover flooding, it's important to have protection from floods associated with hurricanes, tropical storms, heavy rains and other conditions that impact the U.S.

Flood insurance protects two types of insurable property: building and contents. The first covers your building, the latter covers your possessions; neither covers the land they occupy.

Building coverage includes

• The insured building and its foundation
• The electrical and plumbing system
• Central air conditioning equipment, furnaces, and water heaters
• Refrigerators, cooking stoves, and built-in appliances such as dishwashers
• Permanently installed carpeting over unfinished flooring

Contents coverage includes

• Clothing, furniture, and electronic equipment
• Curtains
• Portable and window air conditioners
• Portable microwaves and dishwashers
• Carpeting that is not already included in property coverage
• Clothing washers and dryers
• The two most common reimbursement methods for flood claims are: 

Replacement Cost Value (RCV). 

RCV is the cost to replace damaged property. It is reimbursable to owners of single-family, primary residences insured to within 80% of the buildings replacement cost.

Actual Cash Value (ACV). 

All other buildings and personal property (i.e. contents) are valued at ACV, which is the RCV at the time of loss, minus physical depreciation. Personal property is always valued using ACV.

Contact us and we’ll help explain the benefits of obtaining a separate flood insurance policy. 

Takes a minute to get started:

• Fill out the form, we’ll be in touch.
• Review options with an agent.
• Get the coverage you need.