Property insurance that expressly covers losses from water damage brought on by flooding is known as flood insurance. Floods can be brought on by persistent or severe rain, melting snow, coastal storm surges, clogged storm drains, or failing levee dams.
A flood is usually seen as a major disaster, and if you do not have insurance coverage, you will not be covered for any damage or damage it causes.
A type of property insurance called flood insurance protects a home against losses brought on by floods.
All residential and commercial properties are eligible for flood insurance plans.
Homeowners in communities […]
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 […]