Homeowners Insurance

Does my homeowners insurance cover flooding?

Flood damage to your home and personal property is NOT covered by standard homeowners’ insurance policies.

However, most insurance companies can offer you a separate flood insurance policy which is underwritten by the National Flood Insurance Program.

Homeowners located within a standard Flood Zone are typically required by their lenders to obtain flood insurance. What many homeowners outside of a standard Flood Zone may not realize, is that while a lender may not require flood insurance, it is always a smart investment to protect your home against flood damage. According to the Federal Emergency Management Agency (FEMA), 25-30 percent of all losses occur in low to moderate risk zones. Most homeowners who purchase flood insurance in the low to moderate risk zones are eligible for lower rates.

Flood Insurance typically covers the cost to replace your home, however it only covers the actual cash value for coverage of your possessions. Actual cash value refers to the value of the possessions to replace them minus the depreciation value.

Even if not required by your lender, we recommend obtaining flood insurance especially if your home has the potential to be flooded by a nearby river, lake, or melting snow.

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