While homeowners’ insurance typically provides protection for things like a fire, lightning strike, hail damage, theft, and many other hazards, one thing usually not covered under a homeowners’ policy is flood.
With few notable exceptions, you must purchase a separate flood insurance policy in order to protect your home from rising water, mud slides, and tidal surge. The National Flood Insurance Program provides coverage for homes up to $250,000 and for belonging up to $100,000. If your home has a mortgage and is in a flood zone, the mortgage company often requires you to carry basic flood insurance. If you need additional coverage beyond these flood limits, an excess flood policy is usually required.
The cost for flood insurance is based on the amount of coverage and the flood zone in which the property is located. Some properties will require an elevation certificate so that the property can be rated based on its individual characteristic. If you don’t know your home’s flood zone, we will be happy to help you determine it and provide you with a quote for flood coverage.