What Does Flood Insurance Cover

1. What Does Flood Insurance Cover? Flooding is one of the worst natural disasters causing destruction and perilous trauma to families. While floods can happen at any time given the climate change, many property owners remain unprepared. Since standard homeowners insurance does not cover flood damage, you need comprehensive flood insurance in Chicago. Therefore, it is imperative to know everything about a flood insurance policy to protect your assets from flood losses. Not having flood damage coverage can cost you tens of thousands of dollars if there's little rainfall. Flood insurance protects you from heavy rain, melting snow, blocked storm drainage systems, severe coastal storms or dam failure. So, whatever your needs are, consulting with an expert ensures the best solution. If you live in a high-risk area for floods, flood insurance may be required to protect your assets. Floods can occur outside of high-risk flood zones. Being prepared is the key to protecting from losses and mitigating damages. What Does Flood Insurance Cover? Your home insurance in Chicago should provide flood coverage. Flood insurance provides coverage for home structure and personal assets if damage occurs.

2. Flood insurance policies usually cover: Carpet and flooring Your home and its foundation Cabinets, bookcase, wallboard, window blinds Electrical and plumbing systems Appliances, including refrigerators, stoves and dishwashers Detached garages (limited to 10% of your home policy) Personal property, furniture, clothing, and electronics Heating and air conditioning units It is necessary to know that home structure, personal belongings coverage usually have separate limits and deductibles. Check with your insurance provider to ensure you know all the details. What Doesn’t Flood Insurance Cover? Flood insurance doesn’t cover water damage of all types. However, you need to check with your insurer about the details. Your flood insurance may not cover the following: Pipe burst damage (covered under home insurance) Personal property outside of your building, such as decks, patios, and septic systems Preventable mold and mildew Unique living expenses, such as hotel lodging, if your home is inhabitable in a flood scenario Damaged cars Stock certificates Cash and jewlery up to specified limits Swimming pools and outdoor hot tubs Landscaping Flood insurance can cover problems such as: Storm surges Inland flooding, such as rivers and streams overflowing during a storm Flash floods

3. According to FEMA, 99% of American counties experienced flooding between 1996 and 2019. This marks the need for flood insurance for homeowners. You must note that flood damage from hurricanes and torrential rain is not covered by a standard home insurance policy. A flood insurance policy is a separate policy that covers your house and personal belongings for flood-related damage. Conclusion Making sure your home has a robust foundation, proper drainage, and waterproofing is the first step in protecting it against flooding. However, foundation drainage and waterproofing are not sufficient in an emergency flood. Having flood insurance coverage is the best approach to safeguard your assets from the cost of flood losses and damages. -------- Article Source -------- https://www.storeboard.com/blogs/business/what-does-flood-insurance-cover/5551041