Does Insurance Cover Floods?

1/24/2017 (Permalink)

• "According to The Insurance Information Institute “Standard homeowners and renters insurance does not cover flood damage: Flood damage is excluded under standard homeowner’s policies, although it is covered under the comprehensive section of a standard auto insurance policy. Only a flood insurance policy, available to homeowners and renters through the federal government, will cover flood-related losses.
• Flood insurance is easy to purchase: Federal flood insurance policies can be purchased directly from an insurance agent or a company representative, and are available to communities that participate in the National Flood Insurance Program. Nearly 100 insurance companies write and service NFIP policies. In order to find an agent or company servicing your area, visit floodsmart.gov or call (888) 379-9531.  Flood insurance is available on a replacement cost basis for the structure of the home and on an actual cash value basis for personal property.”

Please click this link to continue reading the online article http://www.iii.org/article/facts-about-flood-insurance

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