Floods are the most common type of natural disaster in the United States, and they can cause significant damage to your home or business. They’re also not covered by typical homeowners’ insurance policies because flooding is typically caused by stormwater runoff that originates outside of your property.
Umbrella Insurance and Floods
Many people think Umbrella insurance covers floods because the policy gives you additional liability insurance, but that’s not typically the case. Umbrella insurance typically covers:
- Bodily injury liability: This pays for injuries that your policyholder causes to another person.
- Property damage liability: This pays for damage caused to someone else’s property by your policyholder.
What Should You Get for Floods?
If you live in an area where flooding is a common risk, it’s important to have separate flood insurance so that your home and belongings are covered. In the event of a disaster, typical homeowner policies will not cover damage from floods because they’re typically caused by heavy rain or storm surges.
Flood Insurance Policies
Flood insurance typically covers the loss of your home, personal belongings, and any fixtures or fittings that are a part of your home. When buying a flood insurance policy, it’s important to ask questions about what isn’t covered by the plan and what is included.
Benefits of a Flood Insurance Policy
A typical flood insurance policy will cover your home’s structure and its contents, including appliances. If you need new carpeting or doors after a flood, your policy will also cover these items.
Is Umbrella or Flood Insurance Policy Right for You?
Umbrella insurance provides your policyholders with an additional layer of liability insurance that covers incidents that happen outside of your policyholder’s normal coverage. If you’re still unsure whether umbrella or flood insurance is right for you in Ankeny, IA, call Maschoff Insurance today, and we can help you make the right decision.