Flood Insurance for Buildings: Guidance on Flood Coverage

In this video, we want to talk about the coverages you have in your flood insurance policy especially when it comes to that property/building coverage.

I want to give you a little bit of guidance today since this is one of the main questions we get all the time when it comes to purchasing flood insurance.

How do you know if it's covered under building coverage or not?

Now, maybe you have an air conditioning system outside, a stairwell case, or a circuit breaker. Most of the time you might think that this will fall under your personal property coverage since it's not really with the building when it's built.

One of the good guidance to go off when it comes to looking at determining building coverage is that it's permanently attached to the building or the house. Generally, these are things that make your house or the building safe and livable.

Is your refrigerator included? No, since it doesn't really follow the guidance and it's going to go over to personal or contents coverage. However, kitchen cabinets — one of the most common asked items when it comes to this — will be covered by your building coverage since it's permanently attached to the house.

This is a very important thing to ask yourself and consult with your insurance agent because you want to make sure that the policy's written with all these things considered. It's also important to have guidance on where your building coverage starts and where it stops since things like the lowest grade of the house will follow these things covered under property or building coverage.

It's one thing to be surprised by flashing flooding inundating your house with water, but it's another thing to be surprised to know after filing that flood claim that you didn't have enough property coverage to bring you back to where you needed.

If you have questions on your flood policy coverages, picking the right building coverage, or understanding personal property coverage, make sure to reach out to us using the links below.

Remember, we have an educational background in flood mitigation and we want to help you protect the value of your property from flood risks and flood loss.