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Flood insurance5/15/2023 ![]() ![]() For an additional premium, you also may buy flood coverage for up to $100,000 of damage to the contents of your home.A standard flood policy will cover structural damage, including damage to the furnace, water heater, air conditioner, floor surfaces (carpeting and tile) and debris clean up. You may buy flood insurance covering up to $250,000 of flood damage to your home.You can buy flood insurance for your home or business regardless of whether the property is in or out of a floodplain, as long as the property is located in a participating community.Flood insurance is a special policy that is federally backed by the NFIP and available for both homeowners and businesses.The National Flood Insurance Program (NFIP) defines flood to be a general and temporary condition of partial or complete inundation of two or more acres of normally dry land area, or of two or more properties (at least one of which is the policyholder’s property) from overflow of inland or tidal waters unusual and rapid accumulation or runoff of surface waters from any source mudflow or collapse or subsidence of land along the shore of a lake or similar body of water as a result of erosion or undermining, caused by waves or currents of water exceeding anticipated cyclical levels. The National Association of Insurance Commissioners (NAIC) offers some important tips on flood insurance to help you prepare.Ī flood is an excess of water (or mud) on land that’s normally dry. Also, the damage is not covered under a standard homeowners policy. Floods can happen anytime and anywhere, and they can happen fast. According to the Federal Emergency Management Agency (FEMA), floods are the most common, and most costly, natural disaster. ![]()
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