What Protection Does it Offer?
A standard homeowners policy does not cover damages from flooding. A separate flood policy is needed to cover losses to your property caused by flooding, which provides coverage for things such as:
- Structural damage
- Furnace, water heater, and central air-conditioning
- Flood debris clean up
- Electrical and plumbing systems
Cost of Coverage
As a homeowner, you can insure your home for up to $250,000 and its contents up to $100,000. For this $250,000/$100,000 building and contents coverage, yearly premiums average $405 in low- to moderate-risk areas. If your home is located in a high-risk area, talk to the professionals at SterlingRisk to determine your premium.
While it is up to the property owner to decide if they want to cover the building, if you are a renter, you can cover your belongings up to $100,000.
Flood insurance means you’ll be reimbursed for all of your covered losses. As long as your community participates in the National Flood Insurance Program (NFIP), you’re eligible to purchase flood insurance.
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