When you own property on the Crystal Coast you will become familiar with the National Flood Insurance Program (NFIP.) NFIP policies can be purchased through thousands of insurance agents nationwide. The agent who helps you with your homeowners or renters insurance may also be able to help you with purchasing flood insurance. If your insurance agent does not sell flood insurance, you can contact the NFIP Help Center at 800-427-4661.
Whether speaking with your agent or the NFIP, here are helpful questions to ask about flood insurance:
1. Does my community participate in the National Flood Insurance Program (NFIP)? Flood insurance from the NFIP is only available in participating communities, but most communities do participate. Your agent can tell you if your state and community participate, or you can look it up online in the Community Status Book.
2. What flood zone do I live in?
3. What is my property’s flood risk?
4. Is flood insurance mandatory for my property?
5. Will my lender require flood insurance?
6. When will coverage start? And remember, no coverage can be purchased once a storm has been named.
7. What's covered in a flood policy?
Flood insurance policies cover physical damage to your property and possessions. Use the following list as a general guide to what is and isn’t covered, or simply refer to the Summary of Coverage to better understand your policy and coverage. Generally speaking, coverage extends to:
A. Building Property.
The insured building and its foundation.Electrical and plumbing systems.Central air-conditioning equipment, furnaces, and water heaters.Refrigerators, cooking stoves, and built-in appliances such as dishwashers.Permanently installed carpeting over unfinished flooring.Permanently installed paneling, wallboard, bookcases, and cabinets.Window blinds.Detached garages (up to 10 percent of building property coverage; other than garages, detached buildings require a separate building property policy).Debris removal.
B. Personal Contents Property
Personal belongings, such as clothing, furniture, and electronic equipment.Curtains.Portable and window air-conditioners.Portable microwave ovens and portable dishwashers.Carpets that are not included in building coverage.Clothing washers and dryers.Food freezers and the food in them.Certain valuable items such as original artwork and furs (up to $2,500).
8. Equally important is the answer to the question: What’s Not Covered?
Damage caused by moisture, mildew, or mold that could have been avoided by the property owner.Currency, precious metals, and valuable papers such as stock certificates.Property and belongings outside of an insured building, such as trees, plants, wells, septic systems, walks, decks, patios, fences, seawalls, hot tubs, and swimming pools.Living expenses, such as temporary housing.Financial losses caused by business interruption or loss of use of insured property.Most self-propelled vehicles, such as cars, including their parts (see Section IV.5 in your policy).
When you have questions about insurance on your property, call or text me at 919-308-2292 or send an email to DRaczkowski@fathomrealty.com and I will answer those questions or get my insurance adviser to do so.
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