Home Insurance Articles
What Counts As A Flood For The Purposes Of Home Insurance Claims
2010-02-05
Most people do not realize that when they purchase homeowner's insurance that it does not cover floods. You need a special policy to cover flood damage. You can buy flood insurance from a private insurance company that is backed by the government. A lot of homeowner's do not purchase separate flood insurance even though it is relatively inexpensive because they think that if they do not live in a flood zone, they will not need it. However, according to the Federal Emergency Management Agency, almost 90% of all natural disasters involve flooding. Up to 30% of all floods occur in regions that are designated as low risk areas.
Since the average damage done to a home during a flood is around $24,000, it is a good idea to purchase special flood insurance and have it added onto your home insurance policy, even if you live in a low risk area. When shopping for flood insurance and getting homeowner's insurance quotes, you should also be clear on what counts as a flood for the purposes of home insurance claims.
What counts as a flood for the purposes of a home insurance claim will depend on whether or not the flood completely inundated two or more acres of land that is normally dry. It may also qualify if the flood involves two or more normally dry properties. It is considered a flood if the water comes from a tidal wave or overflow of inland water. It is also considered a flood if the water is a result of an unusual and rapid runoff of surface waters from any source. The flood damage may also be the result of a mudflow that causes damage to your home. It may also be the result of a levee that collapses along a lake or river due to erosion. A dam that breaks and releases water that damages home is also considered a flood, which will qualify for home insurance claims that include flood damages.
Water damage that is the result of a broken pipe that floods a carpet will not qualify as a flood for the purposes of a home insurance claim. Water damage is normally covered by a regular homeowner's insurance policy. If your home has been damaged due to a flood, you should call your insurance agent who handles flood insurance to file a claim. If you do not have flood insurance now, you can go to the FEMA website to find out more about how to purchase it from a private insurance company.