Think you don’t need flood insurance because you don’t live along a river or stream? Nobody is risk-free when it comes to flooding. In fact, 25% of all flood insurance claims occur in areas considered to be at “lower risk” for floods.
Consider These Facts
- Nearly all policies providing multi-peril property coverage exclude flood damages.
- The average cost of property damage caused by a flood is $39,000 and it can take less than 1 foot of water to cause it.
- Floods are not only caused by rivers or lakes. They also result from levee or dam failures, clogged storm drains, broken water mains and even collapsed swimming pools.
What Coverages are Typically Included?
Coverage is available for residential, agricultural and commercial buildings. A flood insurance policy provides coverage for the following:
- The insured building and its foundation
- Electrical and plumbing systems
- Central air conditioning equipment, furnaces and water heaters
- Refrigerators, cooking stoves and built-in appliances, such as dishwashers
- Permanently installed carpeting over unfinished flooring
- Permanently installed paneling, wallboard, bookcases and cabinets
- Window blinds
- Detached garages and buildings
- Debris removal
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Insurance terms, definitions and explanations are intended for informational purposes only and do not in any way replace or modify the definitions and information contained in individual insurance contracts, policies or declaration pages, which are controlling. Such terms and availability may vary by state and exclusions may apply. Discounts may not be applied to all policy coverages.