Spring has sprung and the rainy season is here! We all know the phrase “April showers bring May flowers”, but those showers also bring not-so-pretty flood claims. Flooding can come from large amounts of rain in a short period of time, runoff from rivers and lakes, blocked storm drains that have collected too much debris, and several other ways. People usually assume that their home insurance covers them in the case of flooding and damage, but this is not always the case!
You need to know that most homeowners policies do not cover flooding. Only a flood insurance policy will financially protect you from flood damage costs. Flood insurance is available to homeowners, business owners, and renters for both a building and its contents.
- Homeowners can insure a home for up to $250,000 and its contents for up to $100,000.
- Renters can cover their belongings for up to $100,000.
- Non-residential property owners can insure a building and its contents for up to $500,000 each.
- The average premium for a yearly flood insurance policy is about $700 per year.
But what if you’re not in a flood zone?
This doesn’t matter. Flood zones can change several times a year, even in urban areas depending on waterways and city piping, and floods from bodies of water are not always the case for flood damage.
What can you protect with a flood insurance policy?
- Personal belongings such as clothing, furniture, and electronic equipment
- Portable and window air-conditioners
- Portable microwave ovens and portable dishwashers
- Carpets not included in building property coverage (see above)
- Clothes washers and dryers (even in a basement)
- Food freezers and the food in them (even in a basement)
- Certain valuable items, such as original artwork and furs (up to $2,500)
If you aren’t sure if you are protected in the case of floods and flood damage, call or text us today at (901)388-7283 or email us at [email protected]. You can also click here to read our blog article “Flood Insurance 101” to learn more and click here to read our Flood Insurance coverage page.
While we do enjoy the spring rains for their help in the garden, they can also cause yard damage
Here is a fun PDF of the Flood 101 Tips for you to keep and share!