Definition: Flood Insurance is a type of Property Insurance that usually covers Home/Dwelling for the different types of losses which will be sustained by water damage and specifically due to flooding caused by heavy rain, melting of snow, storms surges in a coastal region or levee dam failure.
Flood Insurance coverages are different from the basic hazard coverages contained in the homeowners policy. For example, the Homeowner policy covers interior wall damage which may happen due to unconditional weather events like tornadoes and rainstorms. But this policy doesn’t cover the destruction caused by flood waters. So […]