Generally, flood insurance policies do cover physical damage to property and possessions . In the US, this insurance is usually written through the NFIP (National Flood Insurance Program) which is administered by the Federal Emergency Management Agency. It is important to note though that you cannot apply directly to get your insurance cover from the Federal government and must therefore apply for the insurance through an agent. Typically, a flood insurance policy takes thirty (30) days from the date of purchase to go into effect, you should therefore make adequate plans to ensure that you are covered during the period you feel you will be more at risk due to the elements. Read on to find out about some flood insurance policy providers that may be right for you.
It is worth mentioning that contrary to popular belief that there are areas which are more prone to flooding than others, research does show that slightly more than twenty percent (20%) of flood insurance does emanate from areas that have been categorized as moderate to low risk areas. In this regard, you should not defer getting a flood insurance policy in the belief that you are not at risk.
Just like any other insurance cover, it is important to know what your policy does cover and what it doesn’t. For building property cover, the policy does cover the insured building and its foundation, its electrical and plumbing systems, its central air conditioning equipment, water heaters and furnaces, permanently installed paneling, cabinets, wallboard and bookcases as well as refrigerators, cooking stoves and built in appliances such as dishwashers. The policy does also cover window blinds, debris removal and detached garages up to ten percent of building property coverage.
The personal contents property cover does cover personal belongings such as electronic equipment, furniture, clothing and curtains. It also covers portable dishwashers, microwave ovens, window air conditioners as well as carpets which may not have been included in building coverage. Further to the above, the cover does also include food freezers and the food in them, clothing washers and dryers as well as valuable items such as furs and original artwork up to a value of $2500.
The cover doesn’t include damage that’s been caused by mold, mildew or moisture that could have been avoided by the property owner. It also doesn’t cover precious metals, currency and valuable papers such as stock certificates and living expenses such as temporary housing. The cover also doesn’t include most self propelled vehicles such as cars and their parts.
Here are some of the popular flood insurance policy providers in the market. These include but are not limited to the following;
1) Nationwide Mutual Insurance Company
Mailing Address: One Nationwide Plaza, Columbus, Ohio 43215-2220
Phone Number: 1-877-669-6877
Web URL: http://is.gd/3OlQdu
Types of Coverage: fully aware that flood insurance is one of the best ways of protecting yourself from losses emanating from flood losses, the company does also offer its clients the opportunity to purchase both building and contents coverage through the NFIP (National Flood Insurance Program). The contents coverage does include possessions such as clothing, furniture and other valuables. It is worth mentioning that flood insurance does cover certain cleanup expenses as well as other damages to heating and cooling systems as well as replacement of flooring according to your present policy
2) Allstate Insurance Company
Mailing Address: P.O.Box 660598, Dallas, TX 75266-0598
Phone Numbers: 1-800-255-7828r
Web URL: http://is.gd/qJuJgL
Types of Coverage: fully aware that even a small amount of water can cause significant damage, the company does offer its clients several types of coverage. They have building coverage which protects the physical structure of your home or non-residential property. They also have the contents coverage which covers your belongings or items inside your home. This usually includes items such as microwaves, furniture clothing and grills. The third coverage is the replacement cost coverage which helps to reimburse you for the cost of replacing your damaged home. This cover is only available to single family , primary residence owners who are insured to within eighty percent of the total replacement cost.
3) State Farm Insurance Company
Mailing Address: One State Farm Plaza, Bloomington, IL 61710
Phone Numbers: 888-559-1922
Web URL: http://is.gd/yGyJKX
Types of Coverage: the company does offer its clients a wide variety of covers to complement the main flood cover. The flood insurance is available to renters, homeowners, commercial renters/owners as well as condo renters/owners. Even though all the policy forms provide coverage for contents and buildings, it is highly recommended that you take personal property insurance because the contents part is optional.