Flood
Insurance
Your standard homeowners insurance doesn’t cover flooding, it’s important to consider flood protection from the floods associated with hurricanes, tropical storms, heavy rains and other conditions that impact the U.S.
Flood insurance protects the building and contents (personal possessions). Flood coverage doesn’t cover the land they occupy.
Building Coverage Includes:
The insured building and its foundation
The electrical and plumbing system
Central air conditioning equipment, furnaces, and water heaters
Refrigerators, cooking stoves, and built-in appliances such as dishwashers
Permanently installed carpeting over unfinished flooring
Contents Coverage Includes:
- Clothing, Furniture, And Electronic Equipment
- Curtains
- Portable And Window Air Conditioners
- Portable Microwaves and Dishwashers
- Carpeting That Is Not Already Included In Property Coverage
- Clothing Washers and Dryers
The Most Common Reimbursement Methods for Flood Claims
- Replacement Cost Value (RCV): The RCV is the cost to replace damaged property. It is reimbursable to owners of single-family, primary residences insured to within 80% of the buildings replacement cost.
Actual Cash Value (ACV): The ACV is the RCV at the time of loss minus physical depreciation. All other buildings and personal property (i.e. contents) are valued at ACV. Personal property is always valued using the ACV.