Flood insurance is underwritten by the National Flood Insurance Program and covers damage to your home due to “inundation” such as a river that overflows its banks, a hurricane storm surge or a heavy downpour that accumulates faster than it can drain. Flood coverage isn’t included on most homeowner’s or renter’s policies.
NFIP Rules About Flood Insurance.
The National Flood Insurance Program (NFIP), which underwrites most flood policies, covers contents on an “actual cash value” basis. For example, if a five-year-old refrigerator is damaged beyond repair by floodwaters, your policy will cover the cost to buy a refrigerator of similar age and quality rather than a new model. Also, while your home is covered by a flood policy, the NFIP rules stipulate that the following are not covered:
- Swimming Pools
- Valuable Papers
- Personal Belongings In Your Basement
We can work with you to determine what coverage best fits your needs. We’ll walk you through the process, every step of the way, to make sure you have the protection you need for peace of mind.