Think of flood coverage as your own ‘personal surface water’ coverage.
Flooding, from rain or severe storm, is one of the most common causes of loss. The average flood loss is $43,000 (FEMA).
Consider heavy rains causing damage to your driveway and perhaps even basement by flowing through window wells. The federal program will end up denying this entire claim as it needs multiple properties flooded to trigger coverage. Even if coverage is triggered, what you can recover is severely limited. The maximum limit for dwellings are $250,000. Contents only $100,000. Driveways and certain other structures are not covered. It won’t even cover finished sheetrock in a basement.
You can gain control of flood exposures fairly easily with the right adviser with the right private markets.
Primary and excess flood coverage is available through Northington Insurance Group – in moderate B/C/X as well as high risk A/V flood zones.
Learn more about flooding here: FLOOD INFORMATION FROM FLOODSMART.GOV