| Category: | Insurance agency, |
|---|---|
| Address: | 1150 Cripple Creek Dr, Lawrenceville, GA 30043, USA |
| Postal code: | 30043 |
| Phone: | (404) 214-9127 |
| Website: | https://www.fema.gov/national-flood-insurance-program |
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Flood insurance is the specific insurance coverage issued against property loss from flooding. To determine risk factors for specific properties, insurers will often refer to topographical maps that denote lowlands, floodplains and other areas that are susceptible to flooding.
Without flood insurance, you could be hit hard with out-of-pocket expenses. A flood insurance policy is a separate policy that covers your house and your belongings for flood-related damage.
Flood insurance basically works like other insurance products. The insured (the property owner) pays an annual premium based on the property's flood risk and the deductible they choose.
It's easy to purchase - Federal flood insurance policies can be purchased directly from an insurance professional. Nearly 100 insurance companies write and service NFIP policies.
Flood is not covered under your basic renters insurance policy. Talk with your insurance agent about your flooding risks to decide if you need flood coverage for your belongings. Business owners.
Depending on where you live, buying flood insurance might be mandatory. Federal law states that regulated or insured lenders must require flood insurance on homes located in high-risk flood zones.
In recent years, flooding has occurred in areas outside of designated flood zones, but most homeowners don't have flood insurance.
NFIP insurance won't cover cars or other "self-propelled vehicles." However, if you have comprehensive insurance on your auto policy, that coverage should pay for flood damage.
Like home insurance policies, flood insurance policies have exclusions. Flood insurance will not cover damage caused by moisture, mildew or mold that could have been prevented.
However, your homeowners insurance typically doesn't cover damage caused by flooding from creeks, rivers, or lakes or from flash flooding. In those cases, you need a flood insurance policy.