In California, we have a lot of special flood zones, and if you live in any of them - you know that Flood insurance is a must
Flood Insurance is a separately purchased policy and is not a part of any Homeowners, Condo, Landlord, or Renters insurance. Many assume that flooding-related damages are covered under their standard Home insurance policies, only to discover that they are excluded during a claim.
Water Damage Covered By Home Insurance
A standard Homeowners insurance policy covers some water damage but usually excludes most flooding damages. Here are a few examples of water damage covered under the Homeowners, Condo, or Landlord policy:
- The policy typically covers damages caused by falling water from “up to down” the sky.
- If you accidentally left a window open over the weekend, and heavy rainfall damaged your floors and furniture, it is usually covered.
- In the event of a roof leak during rain, resulting in water seeping into your house and causing damage, the policy generally provides coverage.
Water Damage Covered By Flood Insurance
However, Home Insurance policies typically exclude rising water from “down to up.” This exclusion applies in scenarios such as:
- Living by a river or lake where water levels rise after a week of non-stop rain, leading to flooding in your house.
- Residing in the city, where weeks of rain cause the sewage system to overflow, resulting in rising water that floods your home.
Another cause of loss not covered by the typical Homeowners policy is a mudslide. This occurs when excess water softens the ground, causing mud to slide down the hill and damage your building.
Insurance premium depends on your home’s location and the coverage you need. The National Flood Insurance Program (NFIP) establishes special flood zones, and the higher the flood-prone area you live in – the higher the rates are for Flood insurance.
Building coverage is the reason people purchase Flood Insurance. Subsequently, it pays for the damages to a building or dwelling.
Examples of Building coverage include:
- Coverage of the building itself, along with the foundation
- Plumbing and electrical systems
- Air conditioning units and water heaters
- Built-in appliances, cooking stoves, and refrigerators
- Permanently installed carpeting
- Window blinds
- Debris removal costs
Personal Property Coverage
Personal Property coverage is optional in Flood Insurance. Building and Personal Property coverage have their separate applicable Deductible limit. Examples of items covered under Personal Property coverage include:
- Some personal belongings, such as clothing, furniture, and electronics
- Portable air conditioners, dishwashers, and microwaves
- Washer and dryer
- Food freezer and food stored in it
As with any insurance policy, there are tons of exclusions and limitations. In addition, all new Flood policies have a minimum of 30 days waiting period with a few exceptions.
Please contact us today for a free quote and consultation about your flood insurance needs.