Additional living expenses, such as hotel lodging, if your home is inhabitable.Personal property outside of your building such as decks, patios, swimming pools, septic systems and landscaping.Damage caused by burst pipes (that type of damage is covered under home insurance).A flood policy from the NFIP typically does not cover: Waiting period for coverage after you buy (there are some exceptions)īuilding & contents coverage deductible choicesįrom $1,000 for each (no discount) to $10,000 for each (40% discount)įlood insurance doesn’t cover every type of water damage. For example, if flood waters destroy your living room furniture, the contents coverage within a flood insurance policy would pay to repair or replace the items. Contents CoverageĬontents coverage, also called personal property coverage, covers your personal belongings, such as furniture, clothing and appliances. For example, Flood Guard sells policies with up to $5 million in dwelling coverage and Neptune Flood Insurance offers up to $4 million in dwelling coverage. You may be able to buy higher amounts of dwelling coverage in the private market. For example, if flood water damages your electrical and plumbing systems, the dwelling coverage in a flood insurance policy would pay to repair or replace it.įlood insurance through the NFIP caps dwelling coverage to $250,000. Dwelling Coverageĭwelling coverage, also called building coverage, pays to repair or rebuild your house after flood-related damage. You may be able to purchase a building-only policy, a contents-only policy or both, depending on where you purchase your flood insurance from. What Does Flood Insurance Cover?įlood insurance can generally be broken into two main parts: Dwelling (your house) and contents (your belongings). Some homeowners purchase private flood insurance as an “excess” policy to provide additional coverage on top of their base NFIP policies. For example, if you had an NFIP policy with $250,000 in building coverage, you would be covered up to that amount. If your house and belongings are damaged or destroyed by a flood, you can file a claim with your flood insurance company and be covered up to your policy’s limit. For example, Zurich Residential Flood Insurance does not have a waiting period. Some private flood insurance companies have a shorter or no waiting period. Inland flooding, such as rivers and streams overflowing during a storm.įlood insurance through the NFIP has a 30-day waiting period before coverage goes into effect, meaning you can’t make a flood insurance claim for damage that occurred during the waiting period.The majority of homeowners who buy flood insurance buy it from the National Flood Insurance Program, but you may be able to buy a policy in the private market.įlood insurance can cover problems such as: It’s separate from a homeowners insurance policy, which usually doesn’t cover flood damage from problems like hurricanes and torrential rain. Coverage limits apply, including special ones for expensive items like artwork, jewelry, and antiques, and vandalism coverage may be excluded for a home that is considered vacant.What Is Flood Insurance and How Does it Work?Ī flood insurance policy covers your house and your belongings for flood-related damage. Personal property protection can cover losses that result from theft, and dwelling coverage can protect one financially against property damage caused by vandalism or break-ins. Theft and vandalism: A homeowners insurance policy can offer financial protection in the event your property is stolen or vandalized.The Texas Department of Insurance encourages homeowners to review their policies or contact their insurers to discuss their coverage limits. Wildfire: According to the Texas Forest Service, there have been more than 150,000 wildfires in the state since 2005.Along the Texas Gulf Coast, wind and hail damage coverage for 14 counties (plus part of Harris County where Houston is located) is provided by the Texas Windstorm Insurance Association when coverage cannot be obtained with a traditional carrier. However, a separate deductible may apply. Wind: Depending on the insurer and where you live, a standard home insurance policy will usually provide coverage for damage from high winds.Hurricane Harvey, which made landfall near Rockport in August 2017, caused a record $125 billion in damage according to the National Hurricane Center. Hurricanes: Certain areas of Texas can experience extensive damage from hurricanes.
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