Though flooding is not an everyday occurrence in San Diego, it still occurs on occasion, leading many homeowners to wonder if their homes are covered in the event of such a disaster. The staff at Tri-Star Insurance in San Diego explains a few crucial things you need to know about flood insurance.
1. Flood Insurance Is Separate from Homeowners Insurance
Homeowners assume purchasing home insurance covers the house from all natural disasters, including floods. However, flood insurance is purchased as a separate policy. It is the homeowner’s responsibility to research and ask insurance agents about flood-specific policies. If you determine you do not have flood coverage, you can revise the policy with your San Diego homeowners insurance provider to include it.
2. High-Flood Areas Require Flood Insurance
Insurance companies will likely recommend flood insurance for people who live in high-flood areas, especially those where the area flooded previously. A flooded area’s chances of future flooding increase because it happened before. Homeowners with mortgages in high-risk areas must get flood insurance for the mortgage’s duration. However, if you live in a low-flood area, you can decide whether or not flood insurance is beneficial.
3. Floods Don’t Only Originate from Hurricanes
Floods in the eastern and southern coastlines of the U.S. often occur as a result of hurricanes. However, flood damage can come from rain as well, and sometimes the rain in San Diego comes down hard enough to be a cause for concern. Continuous torrential rain can flood a neighborhood, and it creates almost equal damage to hurricanes.
4. The Cost of Flood Insurance Depends on a Variety of Factors
Many factors determine the cost of flood insurance. Factors include the home’s age, construction style, and neighborhood, and are mandatory to determine the monthly payment. Select building policy flood coverage (the walls, roof, floors, wires, plumbing, etc.) or this policy bundled with a contents policy (household valuables/belongings).
5. Indirect and Direct Flood Insurance Are Not the Same Thing
Two types of flood insurance exist—direct and indirect. Direct flood insurance covers floods that are directly responsible for a home’s damage. Indirect flood coverage covers additional problems that may occur because of flood damage. Examples of additional problems are mudslides, fire, sinkholes, and sewer backup.
To learn about your options for flood insurance, get in touch with the insurance experts at American Tri-Star. In addition to home insurance, we also offer the affordable commercial, health, car, and motorbike insurance San Diego residents prefer. Give us a call today a 619-272-2100 for a free quote.