MONDAY, FEBRUARY 27, 2023
Many people may think their homeowners or renters insurance policy will cover flooding incidents, but that is rarely the case. To protect your finances if your possessions and home are damaged or destroyed by flooding incidents, it’s critical to invest in flood insurance. Even if you don’t live near a coast or body of water, investing in flood insurance may be beneficial because of the increased extreme weather events in recent years. Flooding can cause tens of thousands of dollars’ worth of damage due to just a few inches of water in your home.
What Is Flood Insurance?
Flood insurance is a type of property insurance that covers specific types of water damage to your home or belongings. Flood insurance typically covers the following incidents:
- A river, lake or bay that overflows
- A heavy downpour that accumulates faster than it can drain
What Does Flood Insurance Cover?
Flood insurance typically includes two main types of coverage:
1. Building coverage is for the structure of your home. It can help pay for flood damage to electrical and plumbing systems, water heaters, furnaces, foundation walls, built-in appliances and cabinets, permanently installed carpets, detached garages, and fuel and well water tanks. 
2. Contents coverage can help cover flood damage to your belongings, such as clothing, furniture, electronics, curtains and select portable appliances.
What Is Not Covered by Flood Insurance?
Even though flood insurance has a wide range of coverage, there are still losses that it generally does not cover. These may include the following:
- Moisture or mold/mildew that could have been avoided with the proper precautions or maintenance
- Currency, precious metals and paper valuables
- Outdoor property that is not in an insured building, such as decks, fences, patios, landscaping, wells and septic systems, hot tubs and pools
- Living expenses, such as temporary housing if your home becomes uninhabitable
- Cars and other self-propelled vehicles
Flood Insurance in Hammond, LA
If you are interested in learning more about flood insurance or other insurance coverages, contact Penzato Insurance Agency. We can help ensure that you have the coverage you need to protect your most valuable assets and give you peace of mind.
This blog is intended for informational and educational use only. It is not exhaustive and should not be construed as legal advice. Please contact your insurance professional for further information.
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