Comprehensive personal insurance should include Flood insurance and involve a review of the amount of coverage you should be carrying depending on where your home is located and its value. Homeowners insurance does not provide coverage for flood risks, and those located in Southeast and Gulf Coast know only too well the extent of damage a hurricane can wreak on their property.
First Choice Insurance of America can provide you with Flood insurance – even if you are located on the coast and in a catastrophe-prone area. We offer coverage through FEMA’s National Flood Insurance Program (NFIP) as well as through private insurers and Excess Flood insurance for high-value homes.
It’s important to note that FEMA is revising how it determines its rates and expectations are that many on the coast will be paying more for coverage. We will keep you up to date on this.
Under the NFIP program, a Flood policy provides coverage for:
There are exclusions in the NFIP policy, which we can review with you in detail.
Coverage limits with the NFIP are $250,000 for the building and $100,000 for the building contents. These are typically purchased separately with separate deductibles.
Insurance is also available through private insurers, either to supplement the federal Flood insurance by providing higher coverage limits or replace it as your primary Flood policy. Some insurance carriers for high-value homes provide Flood insurance as an optional rider on their Homeowners coverage. Private coverage can also be designed to cover your living expenses if you have to relocate while your home is being cleaned up after a flood – which the federal Flood insurance program doesn’t provide.