Does My Home Insurance Policy Cover Flood?

Nobody knows what the future holds. Nobody even knows what will happen in the next minute. It’s not easy to be a homeowner in America, which is why you need to protect your house from the unknown. Disasters happen every now then, and as a homeowner, you have a lot to lose from such. You need to protect the investment that is your home.

Homeowner’s Insurance

How can you do that? Simple, by getting a homeowner’s insurance policy to shield yourself from financial losses that may arise from the occurrence of a disastrous event. A homeowner’s insurance policy typically covers the structure of your home and some of the personal belongings in it. For instance, if a fire breaks out and destroys your home and everything inside, you are entitled to compensation for the house itself, most of the belongings inside, and depending on the terms of your policy, accommodation as the repair work for your home continues.

Does Your Homeowner’s Policy Cover All Types of Risks?

A typical homeowner’s insurance covers a lot of perils from theft to fire, vandalism, and natural disasters. But it doesn’t cover everything. In most cases, high-value items such as jewelry are not catered for by a standard homeowner’s policy, and you have to get additional coverage if you want such items covered. Most notably, standard homeowners’ policies don’t provide coverage against floods. If you want your home covered against losses in the event of a flood, you will have to purchase a standalone flood policy.

The federal government, through the National Flood Insurance Program (NFIP) in collaboration with the Federal Emergency Management Agency (FEMA), provides coverage against floods to areas considered to be flood prone. You can also purchase a private flood insurance policy from reputable insurance providers. If you live in Arvada, CO, Alliance Insurance Services has got your back. For information on our private flood insurance policy, call us and speak to one of our agents directly.