Flood Insurance Questions

[tacklefish]

I've been reading a lot lately about the insurance issue with Katrina victims. I own property down south in hurricane prone areas and was talking with an agent about storm and flood insurance.

I thought these two would be the same type but they are actually 2 different types of insurance. Do you know what insurance I should buy for a vacation home on the gulf coast? I know Katrina victims probably had storm insurance but it was the flood that they didn't have. I am still confused on this issue.

I was wondering if someone could explain the difference for the two and what would be the best to have for hurricane protection, whether it's from the storm or the storm surge (flooding)

Thanks

[peppy]

I wish I knew the answer to that as well, I just don't have enough experience to answer this question. Does anyone else know more about this type of topic?

I would think that the storm insurance would cover anything storm related since floods come from storms, but I'm not sure.

[vino]

Hai,

I am Vino. I am Newbie to here.



Flood Insurance - California Insurance Specialists provides competitive insurance for your valued assets by representing many top-ranked National and Regional insurance companies, which allows us to obtain the best price and policy to meet your individual needs. Just take a moment to complete the "FLOOD QUOTE REQUEST" request form. We will email and mail you a quotation within 24 hours.

Flood Quote Request

Floods are the most common natural disasters in the United States. In recent years floods have hit homes in all 50 states. There are no "safe" states. Between 20% and 25% of all flood insurance claims are paid to people living OUTSIDE a designated high risk area. Flood coverage is protection which all homeowners and renters should consider.

KNOW THESE FACTS:


* Flood damage is NOT covered under a standard homeowners policy
* It is not necessary to purchase the full replacement value of your home
* Contents can be covered by a flood policy
* Low risk areas are eligible for low-cost coverage
* Flood coverage does not go into effect until 30 days after application
* Rates are determined by the Government's National Flood Insurance Program and NOT by insurance

companies or agents
* Coverage is available up to $250,000 on your home and $100,000 on contents

[tacklefish]

Thanks for providing this information, a lot of this makes more sense. Unfortunately I am probably prone to the high risk area but I'll have to find out where I can find this information.

Thanks
Best Regards

[peppy]

Hello Vino, welcome to our forums.

Thanks for providing this informative answer, I was curious about this myself. I do have an insurance question that I'll post in the life insurance forum later as I am trying to find out if I qualify for certain coverages.

Make yourself at home at the forums and welcome!

[Handsome_iscc]

Hi, I certainly agree with you. but I don

[ricky028]

Nice informative thread! Absolutely, flood insurance is vital as most homeowners insurance policies do not cover flood damage. In fact, most standard homeowners, renters, dwelling, and condominium policies contain specific clauses that exclude and reject any type of flood losses. These days many lenders will require you to make certain that your property is fully protected before they will fund your loan, but existing owners should check with their insurance agents to determine whether their current policies cover them for flood damage.

[matthew111]

You can read more about hurricane protection here -