Floods and fires are two of the most common types of natural disasters. While fires are covered by your homeowners insurance policy, floods are not. Floods can happen anywhere, not just in flood zones. They may occur after heavy spring rains, thunderstorms, hurricanes, or after the winter snow thaws.
Flood Insurance covers damage to a builing, including the foundation, posts, pilings, piers, and other support structures. It insures against any direct physical loss caused by a flood or flood covered erosion, such as a flash flood, tidal surge, severe storm, or mudslide.
Flood insurance does not cover damage to structures other than buildings, such as retaining walls, fences, or underground structures. It also excludes walkways, decks, driveways, and patios. It provides limited coverage for equipment necessary to habitability located beneath the lowest floor, such as utility connections, sump pumps, water or fuel tanks, furnaces, washers or dryers, and air conditioners. Flood Insurance policies also have a thirty day waiting period for coverage.
Insurance policies can be complex and confusing. Having an experienced insurance law attorney look at your policy can help you determine if your losses are covered and ensure your insurance company treats you fairly.