It is a common misconception that general home insurance policies cover all kinds of damages to one’s home. However, flood damage is not generally covered by homeowner’s insurance and must be separately insured. Holding a Flood Insurance policy will financially protect your home from floods that result after hurricanes, storms, or the overflow of other bodies of water.
When someone buys a reliable Flood Insurance policy, they are buying coverage that is made to financially protect their property as well as their personal belongings from harm. Buying homes in high flood-risk zones (which are indicated by the government) requires buying a flood policy in order to receive a mortgage. Though this isn’t required in low or middle-risk zones, it is recommended because of the unpredictable quality of natural disasters. In fact, over the last five years there has not been a single state that has gone unaffected by floods according to the Federal Emergency Management Agency.
This policy usually compensates the insured for personal possessions or belongings that might be lost or damaged. This policy might even extend to covering foundational and structural damages, and can potentially also covers appliances, furniture, and electronics. Finally, it might even reimburse policyholders for debris removal caused by flooding.
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