There can be many causes of water damage in a home, all of them equally dreaded by homeowners. However, many property owners take some comfort in thinking that their home insurance will be there to help cover the cost of repairs or replacement of their water-damaged items. But, what homeowners commonly do not fully understand is that the standard home insurance policy only covers specific types of water damage, and flooding is not listed among them.
Should flooding impact your home and belongings, having a flood policy in place means you get essential coverage for repairs or replacement of everything from your home systems, like electrical and plumbing, to appliances – such as a refrigerator, dishwasher, and washing machine and dryer – to carpeting and window treatments. In addition, flood insurance provides coverage for replacing cabinets, personal belongings, foundation walls, staircases, and more. A flood can have a devastating financial impact on a homeowner, but with the proper flood insurance policy, you will have the means to put your home and life back together again more quickly.