Homeowners and Flood Ins

[Mark Rosenthal]

Okay, I live here in Georgia where it has rain everyday for over 10 days. Some of you may have seen Atlanta on the news with the broken bridges and streets. They closed the interstate I-20.

Most people think that their common Home owners ins covers floods and water damage. I'm not a P and C agent.

Can one of you explain to us, about flooding and how it may or may not be covered by the normal homeowners insurance.

[rlewis01]

Homeowners insurance does not cover flood damage. Plain and simple. You will need to purchase a separate flood insurance policy to be covered for flood damage.

[VacantHomeIns]

Sure Mark, flood is excluded by every homeowners insurance policy by default. This includes almost every natural water event (tidal, rising floodwater, broken levy, etc). It can be added on to regular homeowners insurance policies in areas with little to no past risk. In areas of any risk, the Government Flood program is about the only option but rates are actually reasonable because it's massively subsidized.

[fsmart]

Many homeowners assume they have zero risk of flooding. But flood maps are always changing. Check out this blog post: http://www.123insurancequotes.net/bl...mean-to-you/9/

[johndale]

Originally Posted by rlewis01

Homeowners insurance does not cover flood damage. Plain and simple. You will need to purchase a separate flood insurance policy to be covered for flood damage.

This is the first time that I've heard about "Flood Insurance" was there really such thing? where can i find an insurance company that covering the flood or other disaster. I'm interested with this one. Any suggestion is highly appreciated. Thanks.

[heidrek]

you really need to look at the terms of your particular homeowners insurance policy, and possibly contact your insurer to clarrify. some policies cover flood, some cover damage by "storms" but not "overflow of water" or something similar.

I know in Australia there is a huge issue with this as if a river bursts it's banks because of heavy rainfall, some homeowners insurance policies will cover it and some wont, and if storm drain overflow , many don't offer cover as they say the liability rests with the local government for not having adequote drainage etc.

rain falling from the sky casuing damage is covered, but once it hits the ground and turns into a flood, it's no longer "rain" or a "storm" but something else.

If you live in a flood affected area, for Gods sake, do your research and look around at your insurance options. Makes sure the insurance you have REALLY covers you.

[jerryjacson]

You can also take insurance claim for your home water damage by flood from many water damage repair services providers.Such companies are providing damage repair services with insurance claim.

[jacobvats]

Flood damage to your home can be insured only with a flood insurance policy -- no other insurance will cover flood damage. Flood insurance is available through your insurance professional. To determine if your home is located in a flood plain, contact your county planning office. If you are living in a flood plain, flood insurance may be an excellent purchase.

[pjmuck]

FYI, you may not be able to claim damages due to flood by natural causes under a typical policy, but if the flood is the result of a pipe break, for example, you can. My basement was recently flooded due to heavy storms, but the real cause was the result of my sump pump failing. The sump pump is covered under my policy, and therefore my damages as well. (Had the sump ump failed as a result of a power failure, however, I wouldn't have been covered). Note that I did add the sump pump to my coverage a couple of years ago.

[Todd Baker & Associates]

The difference between water coverages on an insurance policy are pretty simple. Flood is considered surface water. This could be a river over flowing and flooding your home. It also would cover things like water getting into your basement through the window well etc. This coverage requires a stand alone flood policy. If the water comes through a floor drain or a sump pump pit it would be considered water backup. This coverage is available with an endorsement to your homeowners insurance policy at your discretion. Limits available vary by insurance company. If it is a ruptured pipe that has damaged the house in a sudden act, it is already covered. The most unfortunate one is if it is water seeping through cracks in your foundation. The majority of insurance companies do not cover this. The thing to remember when it comes to water damage, even if the damage is covered by your insurance policy, it is only going to cover the damage that the water did. Not the repair of the part of your home that failed. An example is if a pipe ruptures in your wall, the policy pays for the water damage and you are on the hook to fix the plumbing!

Thanks for listening.
Roy Betz
Todd Baker & Associates
http://facebook.dj/toddbakerandassociates/