Does Home Insurance Cover Flood Damage?

While home insurance can cover many things, it often does not cover flood damage. You may need a separate form of coverage in order to recoup losses due to flood damage that has affected your assets, including the building itself and any personal effects. If the flooding was caused by an internal issue such as a leaking appliance or burst pipe, the typical home insurance policy may cover you. However, flooding caused by storms or overflowing rivers will require a separate flood insurance policy. While this will usually cover the structure of the building along with electrical systems and large appliances, it may not cover outdoor property or incurred living expenses. 

How to Get Flood Insurance 

The first thing you have to do is get a quote. This is where the National Flood Insurance Program comes in handy. The NFIP Quote Tool can help you find the flood insurance coverage that would best suit your needs in just a few minutes. Keep in mind that if you live in a high-risk area and have a mortgage from a federally regulated lender, you will be required to have flood insurance. Fortunately, there are private insurance companies that provide flood insurance. If you live somewhere where the risk of flooding is moderate to low you may not be required to get flood insurance but you could be eligible for a reduced rate. You may want to look over your home insurance policy just to make sure that you have an endorsement for damages due to water back up from a drain or sewer. Do keep in mind that this isn’t quite the same as flood damage. 

The Southwest Insurance Center Serves Austin, TX

If you have more questions about your home insurance, we here at the Southwest Insurance Center, serving Austin, TX and surrounding areas, are happy to help.