What Flood Insurance Does and Doesn’t Cover

Most of us would agree that we can’t predict the future. The unexpected is always to be expected. This rings true for floods as well. Sometimes mother nature or life can create situations that destroy or damage our belongings and change our lives. In cases like this, it helps to have a little peace of mind. That peace of mind often comes in the form of flood insurance. Flood insurance may not take away the damage or the loss, but it can help you to rebuild your life and replace your belongings. However, as with anything, you need to know the ins and outs of how flood insurance works and what it does and doesn’t cover.

What Is Flood Insurance?

Flood insurance is a separate insurance policy purchased to cover lost or damaged property destroyed by a disaster involving water. This could include burst pipes and natural hazards, although some natural hazards aren’t covered under flood insurance. Typically, homeowners’ insurance will not cover flood damage. This is why most homeowners purchase flood insurance separately if they live in a flood zone. Flood insurance is a federally regulated plan issued by the National Flood Insurance Program (NFIP). Still, you need to make sure that your area participates in the program before you decide to purchase this insurance. Kimble Brown Insurance Agency in Southlake, TX can help you understand what flood insurance does and how it can help protect your home and personal items.

What Does Flood Insurance Cover?

In short, flood insurance covers both your home and your property. This includes the cost of rebuilding your home and replacing personal belongings that were lost or destroyed as a result of the flood. This insurance will even replace food that was lost as a result of flooding. Typically, flood insurance covers the actual cost of repairing your home or replacing it at its valued appraisal. Flood insurance usually covers the least costly option. However, you will be reimbursed for your personal property based on its actual value regardless of what you paid for it.

What Is NOT Covered by Flood Insurance?

Unfortunately, flood insurance won’t cover everything that was lost or damaged as a result of flooding. For example, it won’t include money or jewelry in addition to a variety of other things. Make sure to familiarize yourself with what is and isn’t covered. This insurance won’t replace your lost income either, and typically, basements have limited coverage.

Residents in the Southlake, TX area should contact the Kimble Brown Insurance Agency to discuss their flood insurance options. Our agents are happy to answer all of your questions. Give the Kimble Brown Insurance Agency a call.