Flood Insurance 101: How To Protect Your Home From a Water-Related Disaster
At Hibbs Insurance, we feel honored to live in the Western Kentucky region. The environment is beautiful, and the people are friendly. The area does, however, have a downside—it floods. Our history is riddled with water-related disasters, and we know that more are coming. That’s why you should know the ins and outs of flood insurance. We don’t want you to ever handle water damage on your own.
What kind of damage can I expect from a flood?
A flood can cause a wide variety of problems. It can make your roof and floors buckle and cause cracks in your foundation. It could also ruin your air conditioning and other appliances and wreak havoc on your home’s electrical wiring. Flooding could even cause mold to spread throughout your house and clog your septic tank filters with debris.
Basically, floods cause a million headaches.
Will my home insurance cover flood damage?
Unfortunately, probably not. Most home insurance policies exclude this kind of damage. That’s why it’s important to purchase flood insurance if you live in an area where one could happen.
What will a flood insurance policy cover?
A flood policy will typically cover your house, foundation, and detached garage. This includes plumbing, electrical wiring, central air, and heating. You will need a separate policy for any independent structures other than a garage.
You can also purchase personal contents coverage that will cover your possessions in the event of a flood.
Do you offer private flood insurance?
No, we don’t offer private flood policies at Hibbs Insurance. Instead, we provide coverage through the National Flood Insurance Program (NFIP). The Federal Emergency Management Agency manages the NFIP and partners with various communities around the country to insure residential and commercial structures. It typically serves high-risk areas, where insurance is often required.
What factors determine the cost of a policy?
Naturally, the amount of risk you face plays a huge role in determining your premium. For example, if you live in a place that’s likely to flood, your property will be more expensive to insure. However, you might be able to decrease the cost with a few improvements, such as elevating your home and moving appliances like your water heater to ground level.