| Message |
Author |
|
 Posted: Sun May 10, 2009 5:32 pm Post subject: flood insurance..... |
|
|
What are the types of coverage available under a Flood Insurance policy?
Why should one get Flood Insurance? |
|
sunil87020
New member
Joined: 03 May 2009
Posts: 23
11.17 Dollars($)
|
|
| Posted: Sun May 10, 2009 8:45 pm Post subject: |
|
|
| Quote: | | Why should one get Flood Insurance? |
In case water "floods" into the home. This is any water that flows into the home from the ground. |
|
tcope
Forum Expert
Joined: 22 Nov 2006
Posts: 5066
Location: Salt Lake City, UT
272.53 Dollars($)
|
|
| Posted: Mon May 11, 2009 6:30 am Post subject: |
|
|
| You need to have a policy only for personal property and for flood coverage it dsnt cover your personal property. its always better to back a flood insurance policy with a personal property coverage.. |
|
DJ
New member
Joined: 25 Feb 2009
Posts: 25
9.78 Dollars($)
|
|
| Posted: Mon May 11, 2009 10:05 am Post subject: |
|
|
| Hi Sunil, Tcope is right; flood insurance would provide coverage against flood damages to your home. Flood isn't covered under the standard homeowners policy. Hence, if you are staying in the flood zone, the mortgage would also insist you to maintain flood coverage. |
|
jeorge
Senior member
Joined: 07 Oct 2005
Posts: 808
132.58 Dollars($)
|
|
| Posted: Tue May 12, 2009 4:12 am Post subject: Flood insurance |
|
|
Hi sunil
Its mandatory for all properties to have Hazard insurnace, how ever you need to have a seperate Flood insurance for properties that come under the flood zone as per FEMA which you do not get under hazard ins.
Flood insurnce covers
For property Coverage, nsured building, electrical and plumbing systems, furnaces, water heaters, centralized air conditioning system, cooking stoves, refrigerators, built-in appliances, window blinds and debris removal. This coverage indemnifies against permanently installed cabinets, paneling, bookcases, wallboard and carpeting. Garages outside the building can be covered for up to 10% of the building property coverage, while a separate policy is required to cover structures outside the building other than garages, such as gazebos.
Apart from this your cloths and other personal belongings are not covered under flood insurance.
You need to get a Personal property coverage for the same which covers Furs, original artwork and other such valuable items can also be covered
Thanks
DJ |
|
DJ
New member
Joined: 25 Feb 2009
Posts: 25
9.78 Dollars($)
|
|
