Flood Insurance
Don't think it's going to happen to you? We hope it doesn't, but flood insurance is a smart idea no matter where you live.
Flood insurance is a smart idea no matter where you live. Anywhere it rains, it can flood. Floods are the most common natural disaster, and have accounted for more than $2.7 billion U.S. flood losses since 2001. Lucky for you, an agent can help you choose the right policy to protect your home, so you can relax while someone else takes care of the paperwork!
We get it.
Flood Insurance Coverage Options:
Low-to moderate-risk areas
Most buildings and their contents in a low- to moderate-risk areas are eligible for a low-cost Preferred Risk policy. A Preferred Risk policy offers two types of coverage: building and contents combined or contents-only. Rates start as low as $49 per year for contents and $129 for building plus contents coverage.
If you live in a low- to moderate-risk area and you don't qualify for a Preferred Risk policy due to multiple flood losses on your property, a Standard Risk policy is available.
High-risk areas
Customers in high-risk areas can purchase Standard Risk coverage for the building only, contents only or for both the building and contents.
Coverage limits
Based on the value of your building and its contents, coverage is available up to the following maximum limits of the National Flood Insurance Program:
Type Building Contents
Residential $250,000 $100,000
Nonresidential (commercial) $500,000 $200,000
If you need coverage beyond these amounts, you may be eligible for a separate Excess Flood policy. Please locate an agent to find out more about the Flood insurance program.
What's covered
Flood insurance policies cover direct physical loss by or from flood to your building and personal property. The following is an overview of items that would be eligible for coverage subject to the coverage purchased.
Building Property coverage includes:
The building and its foundation
Electrical and plumbing systems
Central air conditioning equipment, furnaces, and water heaters
Refrigerators, stoves and built-in appliances such as dishwashers
Permanently installed carpeting over unfinished flooring
Permanently installed paneling, wallboard, bookcases, and cabinets
Window blinds
Detached garages (up to 10% of Building Property coverage)
Personal Property (contents) coverage includes:
Personal belongings, such as clothing, furniture, and electronic equipment
Curtains
Portable air conditioners
Portable microwave ovens and portable dishwashers
Carpets not permanently installed over unfinished flooring
Washers and dryers
Freezers and the food in them
Certain valuable items such as original artwork and furs (up to $2,500)
Replacement cost coverage is not available for personal property
Other Coverages:
Debris removal at federal minimum wage (not subject to deductible)
Loss avoidance measures ($1,000 limit, no deductible)
Increased Cost of Compliance — flood proofing, relocation, elevation and demolition (subject to limitations and qualifying criteria)
Coverage for basements and property in them is limited regardless of flood risk. Your agent can help you in determining your flood risk and the type of flood coverage you want to purchase.
