Flood / Excess Flood Insurance
 
Many people find out too late they are at risk for flooding, and even worse, that their property insurance does not cover flood damage. In fact, according to the National Flood Insurance Program, flooding occurs in every state and 25% of all floods occur in low-to-moderate risk areas.

Floods can strike anyone, at any time, in any place! Even if you donít live near a lake or river, floods can result from damaged water mains, ruptured tanks and towers, broken dams and levees, even runoff due to poor drainage. And, of course, thereís always the risk of floods from hurricanes, heavy rainstorms and melting snow.

The following lists provide general guidance on items covered and not covered by flood insurance:

What is insured under Building Property coverage?
• The insured building and its foundation
• The electrical and plumbing systems.
• Central air conditioning equipment, furnaces, and water heaters.
• Refrigerators, cooking stoves, and built-in appliances such as dishwashers.
• Permanently installed carpeting over an unfinished floor.
• Permanently installed paneling, wallboard, bookcases, and cabinets.
• Window blinds.
• Detached garages (up to 10% of Building Property coverage). Detached buildings (other than garages) require a separate Building Property policy.
• Debris removal.

What is insured under Personal Property coverage?
• Personal belongings such as clothing, furniture, and electronic equipment. Curtains.
• Portable and window air conditioners.
• Portable microwave ovens and portable dishwashers.
• Carpets not included in building coverage (see above).
• Clothes washers and dryers.
• Food freezers and the food in them.
• Certain valuable items such as original artwork and furs (up to $2,500).

What is not insured by either the Building Property or Personal Property Coverage?

• Damage caused by moisture, mildew, or mold that could have been avoided by the property owner.
• Currency, precious metals, and valuable papers such as stock certificates.
• Property and belongings outside of a building such as trees, plants, wells, septic systems, walks, decks, patios, fences, seawalls, hot tubs, and swimming pools.
• Living expenses such as temporary housing.
• Financial losses caused by business interruption or loss of use of insured property.
• Most self-propelled vehicles such as cars, including their parts (see Section IV.5 in your NFIP policy).

The maximum amount of coverage available in the NFIP's Regular Program for residential properties is $250,000 on a structure and $100,000 on contents. The NFIP's Emergency Program has lower maximum coverage amounts of $35,000 on a structure and $10,000 on contents.

What if my property and/or contents are worth more that $250,000 / $100,000?

If your property is valued at more than $250,000 or your contents are valued at more than $100,000, you should seriously think about an Excess Flood Policy. An Excess Flood Policy can extend your flood coverage up to an additional $10,000,000 on a structure and contents.

Daly Insurance can answer any questions you may have about flood insurance and excess flood insurance as well as provide you with flood insurance protection. If you have a home-based business, we can also provide any special coverage you may need to insure your business property against flood loss.

Contact us 912-352-1400 for a flood or excess flood quote today.
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