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Flood Insurance

FLOOD Insurance – Customer-friendly-John Shepherd

Flood insurance is a staple for most homeowners. There are many benefits to having this type of insurance. Understanding the benefits and the different types of coverage that exist will help you to choose the policy that’s right for you.

What Is It and How Does It Work?
This is a type of insurance that protects against property loss from floods. It financially covers damages up to a certain dollar amount. Most policies cover the cost to rebuild a person’s home or the cost of a person’s home, whichever option is less costly.

Homeowners seek out insurance agencies and put a policy in place that will protect certain properties. The items that are insured are based on the type of policy that the homeowner selects.

What Different Types of Coverage Exist?
There are two types of coverage that exist for this type of insurance. They are

  • Building Property Coverage
  • Personal Contents Coverage

Building Property Coverage
This coverage protects the physical structure of the home as well as the home’s foundation. It also protects central air and heating units as well as electrical and plumbing systems.</li>

Personal Contents Coverage
This coverage protects items that are not attached to the home. Items that fall into this category include </li>

  • clothing
  • electronics
  • portable appliances
  • furniture

A homeowner can choose to purchase one plan of coverage or both. Most coverage does not exceed $250,000. If he feels that this is not enough coverage, he can seek out a private company that offers an excess flooding insurance policy.

What Are the Benefits of Having a Policy?
Benefits of having either of these coverage policies include:

  • not having to come up with money to replace any of your possessions
  • having a plan already in place in case disaster strikes
  • having funds at your disposal when you need them