Flood damage is a real concern in coastal areas, which is why it’s important to be aware that homeowner’s insurance does not cover flood damage. For peace of mind, there are coastal flood insurance plans that cover damages outside the realm of standard homeowner’s insurance. By understanding the scope of what flood insurance can cover, it’s easy to see that the cost of insurance can pale in comparison to the loss and struggle caused by coastal flooding.
What Is Covered By Flood Insurance?
It is commonly known that coastal flood insurance will cover a homeowner’s belongings and damages caused to the carpeting or the structure of the home itself. However, there are some protected items that many people don’t consider:
- Central heating and air systems
- Water heaters
- Portable air conditioners and microwaves
- Washers and dryers
What Is Not Covered By Flood Insurance?
There are several things, such as basements or other areas under the home’s first floor, that may only be partially covered by flood insurance. Certain other items may not fall under the coverage at all and should be insured separately. Some of these exclusions may include:
- Precious metals
- Personal property stored in the basement
Taking a tally of which items are covered will help in deciding to seek coastal flood insurance. The potential repair costs of all structures and appliances which fall under the insurance umbrella can be daunting in high flood risk areas.