Much of the damage caused by severe weather is technically the result of flooding,
which is not covered by a typical homeowner insurance policy. Aside from fire, theft
and vandalism standard policies only protect against rain that enters through damaged
roofs and windows - a distinction far too many residents become aware of AFTER their
homeowners insurance claims are denied
"Flood damage is defined as destruction caused by water that starts at the ground
and seeps upward," says Loretta Worters, Vice President of the New York City based
Insurance Information Institute. "It is covered only when a homeowner has taken
out a separate flood-insurance policy at least thirty days prior to a disaster".
Flood insurance is available through FEMA's National Flood Insurance Program (NFIP),
which has been subsidizing policies through firms like First American since 1968.
A policy caps at $250,000 for a structure and $100,000 for its contents, and usually
carries a deductible of $500.
An individual is not eligible for coverage unless his community participates in
NFIP. To see if your area is covered and to assess your flood risk, visit www.FloodSmart.gov or call 888-379-9531. You can also purchase
flood coverage via your First American representative by calling toll-free 888-546-5118!
*This policy information is very brief and is not intended as a complete description.
Please consult your policy or a licensed agent for full details.