Is flood damage covered by homeowners insurance?

No, flood damage is not covered by homeowners insurance. A standard Homeowners policy does not provide flood coverage. It is not a part of standard Homeowners insurance coverage. However, you will certainly require flood insurance if you live in a flood zone. Flood insurance is available through a special policy called flood insurance. It is provided separately by the federal government and some private insurers.

Flood insurance is provided through the National Flood Insurance Program (NFIP), run by the Federal Emergency Management Agency (FEMA). These policies are underwritten by the government. The policies are generally sold through private insurers.

The National Flood Insurance Program provides dwelling coverage up to $250,000 and $100,000 for personal possessions.  It is based on replacement cost coverage for the structure; which means the policy will cover the amount necessary to rebuild your home.

For personal belongings what is provided is the actual cash value coverage, which means you will get the current value of your possessions, which may be considerably less than the cost of buying new ones.

Private market flood insurances are of 2 types. The first is the Primary Flood Insurance, which is similar to the NFIP policy, but offer higher levels of coverage. The second type is the Excess Flood Insurance which provides additional insurance protection over and above the basic NFIP policy. Excess flood insurance is available for anywhere in the US, irrespective of whether the house is in high-risk flood zones or in areas of lower risk.

Flood insurance can be purchased from independent insurance agents or from regular homeowners insurance companies that have arrangements with a specialized insurer.

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