Does the insurance cover owners of a flooded basement

Does the insurance cover owners of a flooded basement -

This is a question thousands of homeowners and tenants will now ask that recent heavy rain s 'mitigate :? Does the insurance covers water damage in my basement? Unfortunately for most the answer is "probably not". Standard homeowners insurance does not cover damage caused by floods, so if you have a specific flood insurance policy, you will have to foot the bill for any water damage from recent rains. The Insurance Information Institute offers this rule of thumb :. The water that comes from top to bottom (ice dams, for example) is usually covered, but when the water comes from the bottom up, such as floods, it is not covered

Many homeowners who live in a flood zone at low risk should not think that they guard against floods, but the reality is that in any given year, about one-third of all claims paid by the National Flood Insurance Program are low-risk political communities. On a 30 year mortgage, your home has a chance of being damaged by a flood over a fire of 9% to 26%. Water damage repair can be expensive -. you can learn how expensive cost with this interactive inch by inch the flood calculator
You can learn about floods, flood risk, and the National Flood Insurance Program (NFIP) to Floodsmart.gov. Do not be short - talk to your agent about insurance options against flooding -. If you are in an area of ​​low to moderate risk, insurance can be very affordable

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