Flood Insurance covers against the risks of flood. Generally:
- Flood insurance only covers the dwelling.
- Flood insurance does not cover contents of your house, although contents can be covered.
- Flood insurance does not generally cover basement flooring, furniture and decorations. It does cover support systems in a basement such as furnace, hot -water heater, heating and junction boxes, and air conditioning systems.
- Flood insurance does not cover out-buildings.
If you are not sure if you live in a flood zone, you can find out your risk level by either of the following methods:
- By inserting your address at the government web site: www.floodsmart.gov
- Call the zoning department of your local or county government
Even if you are in a moderate to minimal risk area, you should consider flood insurance. About 30% of flood claims come from outside the high risk areas. This is particularly true if you have a mortgage on your property. If you have a mortgage and there is a flood, you may end up without a dwelling but still owe a debt to the lender. This is not a great situation in the best of circumstances, much less when also dealing with a serious health condition.
You can find agents who handle flood insurance, as well as an approximation of premiums, at: www.floodsmart.gov.
NOTE: If a flood insurance premium quote is too high, you may be able to lower the amount by requesting a higher deductible.