Flood Insurance

Flooding can cause serious damage to structures and property, which is why flood insurance is important. Some natural disasters are covered under standard homeowners insurance policies, but flood damage is not. Some homeowners do not realize the importance of flood insurance, which should be considered by all homeowners, even if they do not live in a floodplain.

In the United States, floods are the most common natural disaster to cause damage to homes. They often occur in areas far from waterways, and can be caused by heavy snowmelt, sudden torrential rainfall and new construction that reduces the amount of land available to absorb heavy rains. A flood insurance policy is the best protection against flood damage.

Insured mortgage lenders require flood insurance for properties that lie within designated high-risk flood zones. Flood insurance is not a requirement for homes in low or moderate-risk flood zones, but it is still available and should be strongly considered. Homes in low or moderate-risk flood zones could be eligible for a low-cost preferred risk policy.

There are three forms of flood insurance: Dwelling (the most common), general property (for apartment buildings and businesses, for example) and residential condominium building association (condominiums). The following items will typically be covered under a standard flood insurance policy:

  • Structural damage to the building and its foundation
  • Electrical and plumbing systems
  • Furnace, water heater and central air conditioner
  • Refrigerators, cooking stoves and built-in appliances
  • Permanently installed carpeting over an unfinished floor
  • Flood debris cleanup

Flood insurance policies are also available to cover the contents of your home, including personal items, clothing, furniture and other valuable items.

Nearly 80 percent of the homes in the United States that are at risk for floods are not covered by flood insurance. Floods are typically isolated to a few areas and few insurance carriers offer flood insurance. Companies cannot spread the risk over a wide enough population to absorb the potential loss, creating an unacceptable risk in some cases.

It is important to purchase flood insurance before a storm comes. Policies typically do not take effect until 30 days after the purchase.

Talk with the experts at McGovern Insurance about a flood insurance policy. Please complete the form on this page or call us at (650) 593-8216 to get your flood insurance quote.