Flood insurance is exactly what you need after a storm comes through and leaves you with a mess to clean up. Whether you are a homeowner or business owner, you know the value of this policy. If you do not have it, you cannot expect your property insurance to pay for flood damage. However, flood insurance can do just that. Every insurance policy is a bit different. Be sure to read the terms and conditions of your current policy to know what limitations you can expect.
Flood insurance helps provide a wide range of coverage options to property owners. In terms of building property, it may include repairs or replacements on the following elements based on what was damaged and its current condition.
- The building and its foundation (the building itself should be named on the policy)
- All of the electrical and plumbing
- The central air conditioning system, water heaters, furnaces and other major systems
- Most appliances such as refrigerators, stoves and built-in appliances
- Debris removal
- Most detached and named structures including your garage or sheds (usually only up to 10 percent of the building property coverage)
- All permanently installed fixtures such as wallboard, bookcases and cabinetry
- The carpeting
As you can see, this is a fairly comprehensive list of the components of your property likely damaged from a flood. But that’s not all that this insurance covers. In most cases, it can also help with lost personal contents. This may include personal belongings such as furniture, clothing and electronics. It also includes most portable systems such as air conditioners and microwaves, as well as washers and dryers. Some values, such as high-end collectibles or art, may be covered up to a specific listed value.
Investing in flood insurance makes sense. Even if you do not live in a high-risk area, flood insurance minimizes the financial risks you take on just by owning a home or property. Most importantly, this type of insurance does not cover anything that your typical home insurance policy does. It is a layer of protection many property owners wish they had after a storm.
Get the coverage you need. Call Texas Insurance Agency at (713) 921-8000 for more information on flood insurance in Houston.