FLOOD02558 - Laserfiche WebLink

Home Browse Search

I. Preparations Before the Flood A. Flood Insurance Because houses located in floodplains can be expected to flood, most commercial insurance policies do not cover flood damages. Check your homeowner's or renter's policy (many mobile home policies do include flood insurance). If you are not insured, you still may be able to purchase a National Flood Insurance Program (NFIP) flood insurance policy. The federal government has made subsidized NFIP insurance available in 668 cities and counties that have agreed to regulate future construction in the floodplain. NFIP flood insurance can be sold by any licensed property insurance agent who wants to. Your agent can tell you if NFIP insurance is available in your community. If it is not, contact your city or county officials about joining the program. coveraae: A flood insurance policy covers direct loss by a flood (less the de uctibles). A flood is defined as a "general and temporary condition of partial or complete inundation of normally dry land areas" from: 1. the overflow of a lake, river, stream, ditch, etc., 2. the unusual and rapid accumulation or runoff of surface waters, and 3. mudslides, mudflows, or collapse of shoreline land. You can buy structural coverage for any walled and roofed building, including a mobile home. Any building in a community that has joined the NFIP can be insured, whether or not the building is in a floodplain. Structural coverage covers damages to your walls, floors, insulation, furnace, and other items permanently attached to the structure. Stand- ing water will ruin drywall and can severely damage a wood floor or panelled wall. It is therefore important that a homeowner purchase an adequate amount of structural coverage. You can also buy contents coverage on the contents of an insurable building even without buying structural coverage. Many people were required to buy flood insurance in order to get a mortgage or home improvement loan. Generally, the requirement was for structural coverage only. Therefore, people who think they are insured should double check to make sure that they have their contents insured. An NFIP flood insurance policy will not cover vehicles, boats, animals, crops in the field, money, valuable papers, fences, docks, outdoor swimming pools, land values, plants, trees, or driveways. It will normally cover most expenses incurred in moving your belongings to safety in advance of a flood. It will cover damages caused by sewer backup if the cause of backup was a general condition of flooding (see definition of a flood). 1 "----