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Does Your Property Insurance Cover Flood Damage?

August 5, 2021 | Property Damage Insurance

Don’t Assume Your Property Insurance Covers Flood Damage

For most people, insurance policies are something that bring peace of mind. For example, suppose a car gets into an accident, or someone gets sick and needs medical treatment. In that case, insurance is a way for money to be available that doesn’t have a massive impact on personal finances.

The same, of course, is true for property insurance, where home and business owners get that same sense of reassurance that if a property is damaged, insurance money is there to help with the recovery. However, while most people would consider a flood an “act of God” or a “natural disaster,” insurance companies tend to view things differently.

It’s Not Standard

Insurance policies can be large, complex, comprehensive, and challenging to understand. Many people just want to know that as long as they make their monthly payment, the insurance company will step in during an emergency to provide financial help. In the case of home or business insurance, this usually means accidents or other “acts of God.” A tornado hitting a house, for example, is covered by conventional insurance policies. Even when the source of an accident is a human agent, such as an accidental fire started by a child playing with a lighter or matches, insurance will still cover it.

It’s easy to see why a flood, a natural disaster, would be assumed to be included in an insurance policy. Floods, after all, are no one’s fault. They just happen, and buildings that happen to be in the path of a flood are the victims of an age-old type of natural catastrophe. However, the big surprise for many here is that flooding, while well-established over centuries as one of the oldest natural disasters are not necessarily considered for automatic coverage by insurance companies.

Look For It, Ask For It

This is not to say that flooding isn’t covered by insurance. The opposite is true, with most insurance companies offering some kind of flood coverage. However, the trick is that flood coverage does not become a standard part of a home or business insurance. Floods can, in some ways, cause even more damage to a property than fire. As a result, recovery from a flood brings its own unique set of considerations and finances to factor in.

This means that for people who want to be sure they have an insurance policy covering flood damage, you need to be proactive about getting it. For some, this may mean asking for—and getting—additional riders that can be added to an existing comprehensive insurance policy. Others, however, may have to get an entirely separate, flood-specific insurance policy for the same property. Flood insurance, unlike typical property insurance, is not required in Ohio. Therefore, it would be best if you were willing to ask for it and pay an additional premium for it in many cases.

However, once it’s there, if you need help with an assessment of water damage in your home, contact us. We can help, and the insurance will cover it.

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