Insurance: FLOOD

In today's era, calamity is the number one cause of unexpected tragedy in our lives. Lot's of hurricane, thunderstorm, typhoon that may cause FLOOD happens in different part of the continents.

Consider that flood damage often lasts after the actual flood has subsided. This may look like compromised structural support, permanently damaged furniture and mold growth.
Consider that if your home were destroyed by an ocean storm surge, an insurance company could deem the cause of destruction to be "flooding," leaving you uninsured and homeless.
Consider that rising temperatures may cause the ocean level to rise and erratic weather patterns to emerge. According to many climatologists, this may lead to storms of greater intensity around the world for years to come.

Only you can decide whether to purchase flood insurance. If you live in a flood prone area, you might want to request a quote online or by phone. An insurance quote is free, so you lose nothing by asking. You may be pleasantly surprised by the deals you find.

What Does Flood Insurance Cover?

A flood is defined by the National Flood Insurance Program as a partial or complete inundation of normally dry land due to overflow of inland waters, rapid accumulation of surface waters from any source or mud flows.
This type of insurance covers:

* Any structural damage due to flooding
* Damage to or resulting from electrical and plumbing systems after a flood
* Damage to appliances, heating and cooling equipment
* Wood paneling, cabinetry and furniture damage
* Carpet damage and repair
* Damage to personal items such as jewelry and electronics
* Unavoidable mildew or mold damage as a result of flooding
* Debris removal
* All damage to detached garages


Water Damage and Flood Insurance

When you have water damage in your home or other insured building it is important to determine the source of the water. If the source of your water damage is from flood waters of any kind the damages may not be covered by your insurance unless you have a flood specific provision in your policy.

Most insured's don't realize that there is a difference between flood insurance and water damage insurance. Water damage is when you have a water intrusion in a structure from an inside source. Flood damage is when you have water damage occur from a water intrusion that comes from an outside of the structure source. For instance, a pipe breaks under your kitchen sink and floods your kitchen its water damage. If you have a heavy rain and it drains into your window well of your basement and floods your basement it is a flood as the water comes from an outside source.

Now a flood is not covered damage if your insurance policy excludes flood coverage. This is why it is so important for the source of the damage to be determined accurately.

Most policies exclude flood coverage's because it usually costs significantly more to purchase. Flood waters are considered contaminated waters and can do damage that is a lot more expensive to fix than just regular water that comes from a kitchen pipe in your house. These types of flood waters have unknown contaminates in it that can be brought into your structure with the intrusion and therefore any affected areas will need to be treated as if they are contaminated. This means that more materials may need to be removed and replaced instead of just cleaned and this can raise the cost of the cleanup and restoration significantly.

[credits to goarticles.com]

4 Responses so far.

  1. Really Nice post..I like it great day 4U and keep in touch,from INDONESIA with smile.

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