Flood Insurance

Flood insurance is a separate policy that covers damage from flooding—something standard homeowner's and renters policies explicitly exclude.

Why It's Separate: Flooding is considered a catastrophic risk that's geographically concentrated. Standard policies exclude it, so coverage is provided through the National Flood Insurance Program (NFIP) or private insurers.

What It Covers:

• Structural damage from flooding
• Electrical and plumbing systems
• Appliances (HVAC, water heaters)
• Carpeting and flooring
• Personal belongings (with contents coverage)

  What It Doesn't Cover:

• Damage from moisture or mold not directly from flood
• Currency, precious metals, stock certificates
• Property outside the building
• Living expenses while displaced
• Cars (covered by auto comprehensive)

  Who Needs It:

• Anyone in a flood zone (may be required by mortgage)
• Anyone in moderate-risk areas (flooding can happen anywhere)
• Renters who want belongings protection

  Cost Factors:

• Flood zone designation
• Building elevation
• Construction type
• Coverage amounts

  The Waiting Period:

NFIP policies have a 30-day waiting period before coverage begins. Don't wait until a storm is approaching.