The Importance of Buying Flood Insurance
Flood insurance is a type of property insurance designed to help provide coverage for damages due to flooding. Contact J J Insurance in Denver, Colorado, to learn more about your flood insurance options.
Why Is Purchasing Flood Insurance Important?
Standard home insurance policies may include various coverages. Floods are considered a “vis major” event in many places, which means the damage or destruction caused by them is not covered under standard property insurance policies.
If you have concerns about potential flooding or own property located in an area prone to flooding, it’s crucial to purchase supplemental flood insurance to protect your most important physical assets including your home and your possessions.
How Does Flood Insurance Differ From Other Types of Property Insurance?
Flood insurance protects against flood-related damages typically not covered by other types of property insurance. Your agent can help you understand whether flood insurance may be an appropriate addition to your current property insurance policies.
What Does Flood Insurance Cover?
Flood insurance policies can be purchased through private carriers or the National Flood Insurance Program (NFIP) and generally cover flood damage caused by heavy rains, melting ice or snow, or overflowing storm drains or levees. The coverage provided by the NFIP policies includes the following:
- Building coverage may help cover the structure of your home, electrical and plumbing systems, and built-in appliances.
- Contents coverage may help cover personal belongings.
Private insurance companies may offer different policy options, higher building and contents limits, and varying flood insurance rates compared to the NFIP policies.
Flood insurance can help protect your finances if a flood damages your property. Whether you purchase flood insurance through the NFIP or a private carrier, it is important to understand what is covered under your policy and ensure sufficient coverage for your needs.
Contact J J Insurance today to get a personalized quote for flood insurance.
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.