Study after study shows that the insurance buying public thinks that damage caused by a flood is covered by home insurance and standard business insurance.
Let’s get this straight — Damage caused by flood is excluded by most property insurance policies.
–Flood is not covered by your home insurance policy.
–Your business insurance policy probably excludes flood too.
Flooding caused by rising rivers, dam bursts, storm surges, and broken water mains are all excluded. If the fire hydrant up the street from you is hit by a car and the area floods – no coverage.
Talk to your insurance agent about flood insurance. Go to http://www.floodsmart.gov for info on the National Flood Insurance Program.
