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319 E. Main St.
Brownsburg, IN 46112

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Understanding the Basic of Flood Insurance

Water accounts for nearly 75% of the Earth’s surface. While essential to life forms, an unexpected onslaught of water can become a serious hazard/danger to property and life. Floods can be caused by heavy rainfall, storm surges, melting snow, blocked drainage systems, and more. Grove Insurance Agency is here to assist the greater Brownsburg, IN region residents.

What Is a Flood in the Context of Insurance?

Within the industry, a flood is defined as a general/temporary condition where a) two or more acres of normally dry land or b) two or more properties have been inundated by water/mudflow.

FEMA designates flood zones throughout the country based on the likelihood of flooding. Properties in Special Flood Hazard Areas are most at risk; they typically need flood insurance if the property is mortgaged by a federally regulated lender.

What is Flood Insurance?

Flood insurance refers to a unique and specialized insurance coverage that protects homeowners from losses created by a flood event.

Flood Coverage

Coverage typically includes both the structure of the home (the building and its foundation, etc.) and its contents (appliances, furniture, clothing, etc.).

Excluded Perils

Standard insurance policies for homeowners DO NOT typically cover losses caused by flooding. And property located below grade, like basements, may be excluded.

Other important flood insurance aspects include –

  • A waiting period is usually required before flood insurance coverage is effective.
  • Most flood insurance policies are offered through a FEMA-managed National Flood Insurance Program (NFIP).
  • Some private insurers offer flood insurance, although terms/coverage/conditions may differ.
  • Flood insurance costs depend on various factors, like elevation, location, coverage, etc.

Contact Us Today

It’s crucial to review the terms of your flood policy carefully. For additional information, contact our licensed professionals at Grove Insurance Agency in Brownsburg, IN today.