Think Your Homeowner’s Policy Covers Flooding? Maybe not…
You’d like to think a basic homeowner’s policy should cover you for anything that happens. The truth is, you may need to specifically purchase flood insurance if you want to be covered for flooding. Here is a quote from an article in Time:
The big picture is that your homeowner’s policy does not cover flood damage,
Your homeowner’s insurance will cover water damage if it’s caused by a “covered event,” to use industry jargon. In other words, if hurricane-force winds shatter a window or cause a tree to come crashing through your roof, the resulting water damage would likely be covered.
Under an ordinary homeowners policy, “Tides are not covered. Any source of water that comes from the ground as opposed to the sky would be considered flooding,” said Laura Adams, senior insurance analyst at InsuranceQuotes.com. This includes waves and storm surges, the source of many floods in low-lying and coastal areas.
Also excluded in many policies is “wind-driven” rain, unless that rain is coming into your house via related damage as described above.”
Have you checked your policy lately? It’s better to be safe than sorry when it comes to your home and your cherished possessions. Click the link for the full article and useful information about flood policies and what to expect with your basic homeowner’s policy.