In the last two weeks, the topic of flood insurance has been in hot discussion. I wanted to take a few minutes here to help answer the prelimary questions you have, and get the ball rolling. If after reading this post you want to talk in more depth, please contact me directly.
Flood is an excluded coverage on a regular policy
It’s important to understand that a regular homeowner’s insurance policy excludes floods. Unlike sinkhole and earthquake coverage (which are both excluded but can be added by an edorsement) if you want flood protection, you have to purchase a separate policy.
Do I need a flood policy
Flood policies are government policies are have strict guidelines. If you live in a flood zone, your mortgage company is going to require you to purchase a flood policy to close on your mortgage. Those policies offer slightly more coverage than someone electively choosing to purchase a policy without living in a flood zone.
Even though your mortgage company isn’t requiring you to carry a policy, it’s still something everyone should consider. Flash floods from rain storms are still considered floods. Once the rain water has hit the ground, if it rises back into your home, it’s considered a flood claim.
What does a flood policy look like
An elective flood policy can be purchased through us and bundled with your home and auto insurance. It will only cover the main dwelling and contents per the limit chosen. It does not offer coverage for fences, sheds, pools, and so forth.
The policies are purchased by dwelling / content limit starting at $25,000 for dwelling and $10,000 for contents going up to a maximum of $250,000 for dwelling with $100,000 contents. The deductible is fixed at $1,250.00
I have more questions
I’m here to help you make the best decisions to protect yourself and your assets. If you have more questions about flood policies, please reach out to me. You can email me anytime at kaylagulick@tnsig.com or text me at 615-422-7062. The office phone line is 615-472-1515 and I’m happy to answer questions between 8:00 – 3:00 Monday through Friday.
