What Is Flood Insurance and Why Is It Important?

Flood insurance in Frederick, MD is a type of insurance to protect your property and covers losses caused by water damage as it related to flooding. A separate rider can be used to cover sewer backup. This policy is different from a homeowner’s policy, since it only covers losses due to flooding, while home policies will cover more losses. Standard home insurance policies don’t cover flooding. In order to purchase flood insurance, your community must participate in the National Flood Insurance Program, but most communities do participate in it. You can buy insurance through a private insurer such as Lebherz Insurance.

Floods are one of the most common natural disasters and these events can affect anyone. Without flood insurance, it can be too costly for owners to rebuild or repair their home. Flooding can hit anywhere, even in low-risk areas. If you do live in a high-risk area and have a federally backed mortgage, you may be required to have this insurance.

A single-family home can be insured for up to $250,000 and the contents up to $100,000. If you are just renting your home, you can still get flood insurance for the contents up to $100,0000. For those owners of commercial buildings, you can insure the building up to $500,000 and the contents up to the same. It’s important to buy a flood insurance policy before you need it. Coverage includes the home and the foundation, plumbing, and electrical systems, HVAC equipment, kitchen appliances, permanently installed cabinets, paneling and bookcases, window blinds, and the water heater. For personal property, coverage includes clothing, electronics, furniture, portable dishwashers and microwaves, carpets not covered by the building policy, your freezer and frozen food inside, and up to $2,500 in valuables.

Contact Lebherz Insurance, serving Frederick, MD, to get a quote on flood insurance.