Why isn’t flood covered on my homeowner insurance policy?

Message

Author

Posted: Wed Mar 31, 2010 3:52 pm Post subject: Why isn’t flood covered on my homeowner insurance policy?

Why isn’t flood covered on my homeowner insurance policy?

dkara

New member

Joined: 31 Mar 2010
Posts: 2

Location: Carrollton, Texas
1.57 Dollars($)

Posted: Wed Mar 31, 2010 3:53 pm Post subject:

Because of the widespread devastation involved with a flood, covering flood losses are just cost prohibitive for insurance companies. Therefore, flood insurance is offered through the Federal Government through the National Flood Insurance Program. _________________ Thanks, Greg Marcyniuk Heritage Insurance Ltd Regina Home Insurance

GregHeritage

New member

Joined: 18 Feb 2010
Posts: 34

Location: Moose Jaw, Saskatchewan
6.51 Dollars($)

Posted: Wed Apr 07, 2010 2:34 pm Post subject: Flood Insurance

Due to many area's of the country under a constant flood watch, flood insurance has been excluded from ALL HO policies for many, many years now. Flood Insurance is run by a federal program - National Flood Insurance Program, which is currently (as I write this) suspended due to Congress not passing a bill to extend it.

TELarsen

New member

Joined: 06 Apr 2010
Posts: 1

1.16 Dollars($)

Posted: Wed Apr 07, 2010 6:40 pm Post subject:

I'll simply add another point of view... it's excluded because that risk is not worked into the price of the policy. Most people don't need flood insurance.... so why charge people for it on every HO policy issued. Better to separate that coverage and offer "Flood Insurance" policies separately. The problem I think is mainly that "floor" means (almost) any water seeping into the home... even just rain water.