Did you know your homeowner’s insurance does not cover damage from a flood? You may be protected from a bit of damage from rain, but if the creek in your backyard overflows into your home, you need flood insurance.
The most common flood insurance is available through the federal government’s National Flood Insurance Program, and you can purchase policies that cover just your home and structure, or an additional policy that covers personal property. It’s important, however, to understand not only what is covered through your policy, but what is considered a flood.
Your NFIP policy will cover the cost of removing debris and rebuilding your home, including built-in appliances, wall-to-wall carpeting, window blinds, even detached garages. If you have purchased an additional policy, your coverage will extend to portable appliances, like your washer and dryer, as well as window treatments and some valuables. Insurance does not cover precious metals, stocks, landscaping or septic systems, so be sure to talk to your agent and read the small print, so you understand the limits of your coverage and how your policy defines a flood.
What is a flood?
Most polices define a flood as water covering at least 2 acres that are normally dry or water damaging two or more properties, where the water has come from overflowing inland lakes, tidal basins or waterways, or rapid accumulation of runoff due to heavy rain or storms.
Water that enters your basement from sewer backups or a sump pump that overflows is not considered a flood, and, even in a flood situation, your basement or crawl space coverage is usually limited, meaning carpeting, paneling or ceiling tiles in your finished basement may not be covered.
If you are considering flood protection for your home, be sure you know what is covered under the policy and whether additional coverage is available. If you live in an area that is considered a flood risk, you may be required to carry minimum flood insurance, but be sure the coverage you purchase is right for your family.
If you are using your basement as additional living space, or you have storage in a basement or crawl space, learn what coverage is available to you and be sure your basement is in the best condition possible. You can best protect your belongings by having your basement inspected and waterproofed, by confirming your drainage systems are fully operational and carrying water away from your foundation, and ascertaining that your foundation structure is sound.
For more information about basement waterproofing options, foundation repairs, or sump pump installation, contact Garrett Basement Waterproofing or click here.