page loader

Flood Insurance

Some areas are more at risk for floods than others. But floods can happen anytime and anywhere, mainly because so many things can cause a flood. New construction that changes run-off patterns, winter storms and melting snow can cause flooding, no matter if the area is a flood risk or not.

Flood Insurance Explained

Flood insurance provides financial coverage following a flood. It provides variable amounts of building and contents coverage for properties, such as homes, rental units, condos and commercial spaces. A basic policy covers buildings and contents, but personal property coverage is optional.

The Need for Flood Coverage

People who live in high-risk flood areas are often required to purchase flood insurance as a requirement for their mortgage. Basic coverage is the least you can buy, but if you’re in a high-risk area, then the personal property option is something to consider.

You might even want this insurance if you live in a medium risk area. It is estimated that 25 percent of claims are made by owners in non-high risk areas.

The Specifics

Flood insurance is not included in traditional homeowner’s insurance. There’s a widespread and often catastrophic assumption that it is, but it’s not. You must purchase this insurance separately, and funds are typically made available 30 days after the occurrence.


In low- to moderate-risk areas, flood insurance often includes building and contents, however, in high-risk areas, these policies are purchased separately.

A renter can purchase content insurance. But for renters in high-risk areas, factors including the shape of the building will be taken into account. That will affect the cost of the policy.


A flood can occur just about anywhere. Water can cause a lot of damage. Flood insurance means you’ll have financial help repairing your property or replacing items.