Floods are one of the most common natural disasters to affect homeowners in the United States each year, according to the Census Bureau. They also represent some of the most destructive events. According to Statista, damages caused by floods (including flash floods) in the U.S. in 2019 were estimated to have totaled $3.75 billion. Evidently, it’s important to protect one’s home from floods in order to save time and money when repairing damages resulting from these events. The most effective way to do this is by purchasing a personal flood insurance policy.
What Is Personal Flood Insurance?
Personal flood insurance is designed to shield homeowners against damages arising from floods. Depending on where you live, your property may be either at high risk, low risk, or moderate risk of flooding. Consequently, the cost of flood insurance may be either high or low in your area. Personal flood insurance is provided through the National Flood Insurance Program, (NFIP) which is managed by the Federal Emergency Management Agency (FEMA). You can check FEMA’s flood maps to find out if you live in a high-risk flood zone.
What Does FEMA Flood Insurance Cover?
A typical personal flood insurance policy acquired through FEMA includes two broad coverage areas: building coverage and contents coverage. More specifically, there are seven things that a standard personal flood insurance policy covers, each of which falls into one of the two main coverage areas. Here is a close look at each of these seven things.
Essential Systems In The Home
Your flood insurance policy will cover flood-related damages to all systems that are considered essential to your home. This includes the plumbing and electrical systems. It is critical for these systems to always function properly; otherwise, you may not be able to use your home’s bathrooms or lights. Furnaces, water heaters, and fuel tanks are also covered.
Appliances
If any of your basic home appliances (e.g. refrigerator, dishwasher, stove, etc.) become damaged as a result of a flood, your FEMA flood insurance policy will pay for these damages. Appliances that are not built-in, such as toaster ovens, may not be covered, so be sure to verify this with your insurance provider.
Carpeting And Window Treatments
Personal flood insurance policies typically cover furniture and furnishings. This includes carpets and rugs, which can easily become ruined during a flood, especially if they are elegant. However, window treatments such as blinds and curtains are also covered.
Permanently Installed Paneling, Walls, and Cabinets
Your FEMA flood insurance policy will also pay for damages to permanently installed paneling and walls. Additionally, it will cover flood-related damages to any permanently installed cabinets and bookcases you have.
Foundation Walls, Anchorage Systems And Staircases
Aside from your home’s floors, the foundation walls are one of the parts of your property that are most likely to sustain severe damage after a flood. The same is true for staircases: these surfaces can easily warp, especially if they are made of wood. If you live in a mobile home, your anchoring system may also become damaged in a flood. These anchors are designed to hold down your home and prevent it from becoming unattached during a windstorm; therefore, it is essential to ensure this system never becomes damaged.
A Detached Garage
If you own a detached garage, this will also be covered by your personal flood insurance policy. Therefore, you do not need to worry about flood-related damages to this place, where you may keep your car or a set of tools.
Certain Valuables
According to FEMA, the NFIP provides up to $2,500 in coverage for valuable possessions, such as furs and original artwork. If your valuable belongings are worth more than $2,500, it may be a good idea to keep some of them in a safe place where they cannot be damaged in the event of a flood (if possible).
The NFIP limits for personal flood insurance policies are $250,000 for building coverage and $100,000 for contents coverage. For additional coverage, you can contact FEMA.
Get Flood Insurance With JMG
Speak to the agents at John M. Glover Insurance Agency for more information on FEMA-provided personal flood insurance. We are dedicated to serving the insurance needs of clients throughout Connecticut, New Jersey, New York, Massachusetts, and Hawaii. As an independent agency, we work closely with several insurance providers that have proven their reliability over the years.
At JMG, our comprehensive personal flood insurance policies include both building and contents coverage. Our agents will work tirelessly to protect your home from floods that occur as a result of storms or due to other reasons. Call JMG today at (844) 304-7332 or contact us online to request a quote.