Flood Insurance Basics

A big storm can have a huge, watery impact on your life and your home. You may not think you need flood insurance, but you never know what Mother Nature will decide to throw your way. Be prepared instead of betting that a flood will not hit your home. Here is some information about flood insurance that might be useful.

Flood insurance vs. homeowners insurance

Flood damage is not usually covered by your typical homeowners policy. In order to have flood protection, you have to purchase flood insurance from the federal government through the National Flood Insurance Program (NFIP). Some private companies may also be able to get you a flood policy.

What flood insurance covers

You can choose what your flood insurance covers, whether you want to insure your home, your belongings, or both.

• Building property coverage: provides coverage for the building, its foundations, plumbing and electrical systems, cooling and heating systems, as well as other possible items. This coverage is usually paid out based on replacement cost of your home (the amount it would take to rebuild your home) within the limit of $250,000.
• Personal contents coverage: covers items such as clothing, furniture, electronics, portable appliances, and valuables (up to a certain limit). When you make a claim, you normally get the actual cash value of the items (replacement cost minus depreciation) up to the limit of $100,000.

You never know when a big storm may strike, so it is better to be prepared with flood insurance to protect your home and your personal belongings. Instead of waiting, get a policy today to ensure your protection. Contact Weeks & Associates Insurance Services in Thousand Oaks for all of your California flood insurance needs. Let us make sure you have the coverage you need in the event of a flood.