What does flood insurance cover

It is too late to start wondering if you have flood insurance when you have 12 inches of water inside your home. Flood insurance is something you need to think about now. Floods cause more than 40 billion dollars in damage yearly worldwide. It is estimated that as little as one foot of water can cause $25,000 in damage. If you don’t have flood insurance, you could be paying for the damage out of your savings. If you don’t have the savings you may have to delay making repairs. At Pritchards and Associates Inc in Okeechobee, FL, we are independent agents who take the time to get to know our customers. 

Flood insurance is available through the National Flood Insurance Program which is managed by FEMA. It is available through about 50 different insurance carriers. Prices are set depending on risk so they will be the same no matter which carrier you choose. Your insurance agent will be able to recommend carriers who offer great service. 

Two different types of flood insurance are available, building, and contents. They are sold separately and you can buy one or both. Both offer valuable protection. 

Building

Building coverage covers the structure of the home and the foundation. Beyond that, it covers the major system like electric, plumbing, HVAC, and sewer if the failure is a direct result of the flooding. Additionally, it covers built-ins like cabinets and bookcases, major appliances such as your stove, fridge, and dishwasher, and water heater

Content

Content covers your personal possessions, clothing, electronics, furniture, decor, small appliances, washer and dryer, carpets, microwave, and window air conditioner. 

At Pritchards and Associates Inc in Okeechobee, FL, we understand the risks that the state of Florida posses to homeowners and we can help make sure you have the flood insurance that is right for you. For a no-obligation quote give us a call or stop into our office.