Homeowners Insurance and Flood Damage

Posted in Home Insurance

July 17th, 2009

One of the more devastating acts of nature – for both people and their homes – is flooding. When your home gets flooded, water damage can get into the very foundations of your home and, slowly or suddenly, bring the whole thing down. Many people with home insurance are sure that their homes are covered in case of flood damage, but this is very often not the case.

You may think that your home is completely covered by your home insurance policy, but when it comes to flood damage, you may not be. In fact, most home insurance providers do not include costs for flood damage in their basic policies. In order to be covered, you would need to buy a supplemental flood damage policy. The only way to find out whether you’re covered or not is to really read all the fine print in your contract (you could also ask your home insurance broker whether you’re covered or not, too, but it’s probably better if you’re completely familiar with your home insurance policy yourself). It’s also important to remember that the term “flood damage” does not simply pertain to overflowing lakes and rivers, it encompasses all instances of major water damage from burst pipes, for example, and that can happen to people with homes in the driest deserts.

Make sure you’re covered for major damage to your home by being completely familiar with your home insurance policy. If you’re under the mistaken impression that your home is covered for flood damage, you may be wrong about other major types of damage as well, such as fire, or hurricane. Home insurance providers create meticulous and detailed lists of clauses and subclauses in order to be perfectly and utterly clear on what they do and do not cover. It’s up to you to be on top of the details, and whether or not you need supplemental insurance to cover possible damages.

Are you looking for a good home insurance policy that covers flood damage? If so, fill out our online form and within minutes Go Insurance Rates will provide you with multiple free home insurance quotes from leading insurance companies. The process is absolutely secure and free.