What’s Covered in a Standard Flood Insurance Policy?

Flood insurance is an important fixture of many property owners’ risk management and loss control efforts. Floods are among the most common natural disasters in the United States and may arise from many conditions, including overflowing bodies of water, heavy or persistent precipitation, and infrastructural issues, such as damaged levees. Understanding how a flood insurance policy can protect your financial interests and property is key.

What Does Flood Insurance Cover?

Your flood insurance policy acts as a contract between you and your insurance carrier. By keeping up with your premiums and maintaining appropriate coverage, you have the right to submit a claim for financial assistance following floods. While exact terms may vary, these payouts can often help with the following expenses and losses:

• Structural damage—If an insured building’s structural elements, such as its foundations, floors, attached fixtures and electrical systems, are damaged by floodwaters, your policy can help pay for repair or rebuild costs.

• Lost or damaged belongings—The contents coverage portion of your policy can help pay for losses involving your personal property, such as furniture, electronics and clothing that may be damaged or swept away by floods.

• Cleanup costs—Your insurance may also assist with hiring help to haul away debris and contaminated materials left behind by receding waters.

Are There Exclusions?

There are indeed many possible exclusions in your flood insurance. Exclusions refer to losses involving certain items or arising from certain circumstances that are not approved by your policy. Although these limitations may vary, they often include the following:

• Damage caused by moisture, mildew or mold that could have been prevented if not for a policyholder’s negligence or poor maintenance

• Landslides and other earth movements caused by floodwaters

• Additional living expenses, such as hotel accommodations, while your home is under repair or uninhabitable

• Precious metals, currency, stock certificates and other valuable documents

We’re Here to Help

Contact Harlan Insurance in Alexandria, Louisiana, today to learn more about flood insurance and compare personalized quotes for ideal policies.

This blog is intended for informational and educational use only. It is not exhaustive and should not be construed as legal advice. Please contact your insurance professional for further information.