When you start thinking about insurance, there are many different terms and policy options that can be easily misunderstood. Many people don’t understand the full extent of what their policies do and don’t cover, some do not understand what their deductibles and limits are, and others are not certain whether or not special situations are covered in their auto or home policies. All of these areas of confusion are simple to fix with a call to your insurance agent or a quick read of your policy.
But not all insurance confusions are harmless. If you presume some insurable event is covered by your current car or homeowner’s insurance policy and it actually isn’t, you could be exposing yourself and your loved ones to financial dangers that you simply can’t carry by yourself. One consistent source of this type of dangerous misunderstanding involves flood insurance.
Many consumers presume that flood insurance is always included in their home policy. Unfortunately, this error is so widespread that many policy holders do not ask their agent or insurance provider if their Kendall home insurance policy will protect against the damages accompanied with flood waters—they simply assume that it will. This notion can turn out to be a very expensive error after a flood actually takes place because assuming that their home insurance policy offers flood coverage keeps them from taking the steps necessary to learn the truth about flood insurance and protect their loved ones and their possessions accordingly.
Now that we all know that home insurance plans do not cover damage caused by flood waters, let’s figure out what actually counts as flood waters. The National Flood Insurance Program defines a flood as:
“A flood is a general and temporary condition where two or more acres of normally dry land or two or more properties are inundated by water or mudflow.”
The description of flood is easy enough to understand, but the reason that a lot of homeowners think it’s incorporated in their homeowner’s insurance policy is because many of the events that can cause floods cause other damages that ARE covered under a home insurance policy. For instance, a hurricane may cause wind damage to your house that is covered in your policy, but it may also cause ordinarily dry land to be momentarily swamped by water, which could run into your home and damage your floors and possessions—but because those are flood waters, they will only be protected if you possess a flood policy.
So make sure you have a flood policy in place today. Whether you live in a flood zone or not, its protection that isn’t offered in your homeowner’s policy but needs to be in effect to secure you and your loved ones.
For more information about flood and home insurance, call Prestige Insurance Group at 888-969-8778.