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  • Michael Dattolico

Flood Insurance: What to Know

After a busy hurricane season, whether or not your home or properties have been damaged it’s important to keep track of the coverage you have or don’t! In this article, we’ll discuss flood insurance and the basics behind it.

First to define what counts as a flood, the National Flood Insurance Program (NFIP) defines a flood as an “excess of water on land that is normally dry” which would include a river or lake overflowing, flash flood by heavy rain, and of course, a hurricane storm surge. Coverage is generally split between building coverage and content coverage. Building refers to the structure of the home such as electric damage, walls, and other parts. Content includes furniture, curtains, clothing, and even artwork.

Most homeowner, renters, and other home insurance policies don’t cover flood damage so many are required to purchase flood insurance, especially for those in high flood risk zones. If flood insurance isn’t required or you’re in a low risk zone, it's important to still set up emergency funds for water damage as according to the NFIP, even one foot of water could cause at least $29,000 in damages for a 1,000 square foot home!

We hope you found this information on flood insurance helpful in getting caught up with its basics! At AJS, we are committed to serving the Gulf Coast and beyond in moving, building, and leveling and we are here to help you and your properties. For lifting, construction, or moving, give us a call today to schedule a free consultation!

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