What is covered by flood insurance

Every year the news reports floods that cause billions of dollars of damage to people’s homes and lives. Places that have not suffered before or that have had 100-year floods are not even uncommon anymore. According to FEMA, just one inch of water can cause $25,000 in damage. If you don’t have flood coverage, you will need to pay for this damage out of your pocket. At Modern Risk Management in Houston, TX, we are locally owned and operated. We offer multiple carriers to give our customers choices. 

National Flood Insurance Program (NFIP) is managed by the Federal Emergency Management Agency (FEMA), but you can purchase it through about 60 insurance companies. The rates are mandated, so you can rest assured that you will pay the same rate no matter which company you choose. So when you are deciding, pick a company you know offers great service. Anyone living in a participating NFIP community can purchase this insurance. That means it is available to owners and renters.

Two types of flood insurance are available to purchase. They are sold separately, and you can buy one or both. One covers the building, and one covers the content. As you can imagine, both will help you get back to where you were before the flood. 

The building insurance covers the actual structure and the foundation. It also covers

  • electric system
  • plumbing
  • air conditioning
  • furnace
  • water heater
  • kitchen cabinets
  • built-in appliances
  • refrigerator
  • stove
  • built-in bookcases
  • carpet over unfinished floors
  • fuel tank
  • detached garage

The contents insurance covers

  • your clothing
  • personal items
  • electronic
  • furniture
  • small kitchen appliances
  • microwave
  • washer and dryer
  • carpeting over finished floors
  • window air conditioners

Flood insurance can make the difference between losing everything and being able to rebuild your home and your life. At Modern Risk Management in Houston, TX, we want to ensure that you have the coverage you need. Give us a call to make an appointment for a no-obligation quote.