Check what your homeowners policy excludes
Most homeowners policies do not cover damage from flooding. A separate flood policy can help cover eligible losses, even if you are outside a high-risk area. Ask your lender if it has a flood insurance requirement, but make your own assessment of what it would cost to repair your property or replace your belongings.
Compare coverage for the building and contents
Building and contents coverage address different losses and may have separate limits and deductibles. Homeowners can ask about both. Renters can ask about coverage for their belongings, while condo owners should review what the association’s policy covers and what they may need for their own unit or contents. Check limits on property kept below ground level.
Confirm the effective date before relying on coverage
Ask which National Flood Insurance Program or private options are available for your address and when each would start. NFIP policies typically have a 30-day waiting period, with some exceptions. Compare the policy definition of flooding, exclusions, limits, deductibles, and waiting period before selecting coverage.
Coverage depends on your policy’s terms, limits, and exclusions.