Home Insurance- Is Flood Damage Covered?

Do you think your insurance, specifically your homeowner’s insurance policy, can pay you the damages that are caused by flood? The answer is “NO”. Though basic home insurance policy covers several damages that are related to water, flood damage is not covered. In that case, you should purchase insurance for flood damage insurance. If you will not have insurance for flood damages, you will surely be at risk of any great flood damages. We all know that floods are the frequent and most common calamities in many places that are why it is very advantageous if you purchase insurance for flood damage. Several homeowners in the U.S. are covered by what they need.

The Difference between Water Damage and Flood Damage

Many people is often confuse about the difference of water damage and flood damage. Some homeowners think that flood insurance will also cover water damages. The policy of Home Insurance will typically pay you for the water damage, but not damages that are caused by floods. For instance, if the bathtub or the sink will overflow in your house, the home insurance will cover the damage caused by it and also the repair. And similar if your window is broke by a hailstorm and soaked some parts of your house, the policy of a standard home insurance will cover the damage.

But, if the damage is caused by a natural calamity that is water-related, the homeowners’ insurance will not cover the damage. It will always be covered by a flood insurance policy. The industry of insurance describes flood as an abnormal rise of water that can overflow into the land that is usually dry. A flood may be temporary only but it can damage not just one property. For example, if the river that is near your house or property overflows and soaked whatever belongings you have or simply soaked your property; the damages will be considered as flood damage. Similar if water leaks in your basement because of heavy rainfall, the insurance for flood damage will also cover the damage, not the home insurance.

The Advantage on Purchasing the Flood Insurance

It is a good idea if you add flood insurance in the basic home insurance that you have. We all live in a flood zone area. It is indeed possible that flood will occur in a certain area. The big question is how the flood will occur in a certain area. The great thing about flood insurance is that it will pay you for the damage caused by the flood and it will help you will build your house when severe damage occurs. You don’t have to think about how you will cope up. And if you already have a flood insurance which is under the hazard insurance policy, you can also insure your property or house when sudden natural disaster occurs such as, flood, earthquake, and fire. The standard home insurance may not cover all natural phenomena, so it is best to purchase hazard insurance for events like these.