How Heavy Rains Impact Flood Insurance Coverage

Flood insurance protects your property and personal items if a natural disaster occurs in the area. While some may view the policy as unnecessary, flood insurance can protect you from a financial catastrophe by paying for flood damage. This is especially true when heavy rainfall moves in.

Rain is capable of damaging your property. Mudslides and strong rivers can damage your roof or flood your basement. It’s important that you look over your policy because not all flood damage is considered equal.

Floods/Heavy Rainfall

According to most insurance policies, flooding only occurs when water impacts the ground before infiltrating your home. If rain spreads through the street and enters your property, that is common flood damage. If rainwater falls in through a damaged roof or window, that is classified as water damage. Flood insurance does not cover any water damage claims. Likewise, you can’t rely on your home or rental coverage to cover flood damage. Instead, you need to obtain a flood insurance policy. Flood insurance covers your property against rain-related damage.

Benefits of Flood Insurance

If you own a home, you can purchase flood coverage for the structure and amend your policy to cover any flood damage to your personal items. If you are renting, you can obtain a possessions-only policy for your unit. The National Flood Insurance Program assesses rates based on common factors such as the amount of risk, where you stay, the number of floors in your building, and the distance between the first floor and flood elevation. Other variables include the amount of coverage you need and the size of your deductible.

If substantial rainfall causes your property to flood, your flood insurance covers any damage to the structure, electrical, plumbing, and HVAC systems. The policy also covers damage to the carpet, cabinets, shelves, and other appliances. If you add extra coverage, you can protect your personal items such as clothes, furniture, electronics, and any luxury items that you have. The policy also covers any debris clean-up.

Possible Exclusions

Flood insurance policies may not cover any damage to cash or stock certificates at your residence. Any damage to detached structures such as patios, fences, decks, and garages isn’t covered either. If the flood damage leads to moisture or mold damage, you will likely be left uncovered. Mold damage can be prevented if you take care of your property. You have to perform regular maintenance on your property. Flood insurance does not cover you if you need to find another place to stay until your property is repaired or if your business is interrupted. There is also a policy limit on crawlspace and basement damage, which could leave you unprotected.

Consult with Lou Aggetta Insurance Inc.

Flood insurance can protect your property and personal items in emergencies. Look over your policy carefully to learn about potential exclusions. Contact the team here at Lou Aggetta Insurance Inc. if you have any questions.