This obviously depends on your location, not only geographically but topographically as well. You should consult your insurance agent or other resources in your area to determine the best route for flood insurance.
Flood insurance can be purchased from the government from the national flood insurance program (NFIP). If your community participates you can purchase flood insurance from your insurance agencie through the national flood insurance program.
No, you are not protected from a flood with your basic homeowners insurance. Most companies that sell homeowners insurance will probably sell flood insurance as well, but it will be it's own purchase.
Not in America.
Purchasing flood insurance would depend on where you live in Texas. Dallas and Fort Worth, for example, employ many people to restore damage done by water and have been named in state disaster declarations in the past, so the purchase would be wise in these locations.
When homeowners and business owners purchase an insurance policy they often overlook the need for flood insurance. Many people assume that this type of coverage is automatically handled in their policy. This is not the case. Unless it is specifically pointed out to you when you purchase your policy that flood damage is included, you are not covered. High risk states, such as hurricane prone areas especially, should be aware of this policy exclusion. Assuming you are protected for flood damage could cost you everything you own in the event of a flood. Flood insurance can be purchased directly through the government and a flood policy is relatively cheap. These flood damage policies are issued through the National Flood Insurance Program. This program, run by FEMA, is available to hoe and business owners throughout the country. Flooding can happen at any time and in any place. Because most flood damage is caused by storms, you can never predict when these events may occur. A flood insurance policy should always be held by anyone that needs to protect property. Business owners should always consider a flood policy even if they do not own the building. If your building becomes flooded the buildings insurance policy is not going to cover damage to your suite’s contents. Your personal insurance on your business will also deny you coverage because the damage was caused by flood waters. You should always carry a flood insurance policy, regardless if you rent or own. Flood insurance also protects you from non-storm related flooding. If a water main breaks and floods your structure the damage will be covered in a flood policy. Most regular policies only cover water damage from a pipe break if the break was located within the actual structure. Breaks outside will not be covered. The National Flood Insurance Program can be accessed through the FEMA site or a local insurance carrier. The process to get the insurance policy is simple and, as stated before, very nominal in price. The protection it offers you is well worth the associated costs.
No. Several insurance companies offer flood insurance apart from the National Flood Insurance Program.
If your property is in a flood plain or your mortgagor requires flood insurance, no, you cannot cancel flood insurance.
Flood insurance is generally not included in homeowners insurance policies, so you may want to consider flood insurance. Flood insurance is required in some flood zones. Contact your local insurance agent to find out if your vacation home is in a flood zone that requires flood insurance.
No; flood insurance is provided via the Federal Flood Insurance program. While METLife P&C doesn't provide this coverage, its agents should be able to assist you in obtaining this coverage. Just about any insurance agent can take applications for the Federal Flood Insurance program.
Insurance providers offer flood insurance separate from their regular homeowner's insurance policies. The insurance companies, that offer flood insurance, provide it with its own costs and terms. Flood insurance is not mandatory for every homeowner. It is only mandatory for those who live in areas that are designated flood areas. The federal government usually designates those places as flood areas that are close to major rivers or oceans. For those people, who do not live near major bodies of water, they may purchase this insurance; but it is not required. However, it is a smart idea for homeowners to purchase flood insurance if their homes are prone to flooding from such things as excessive storms, snow or ponds, as well. Flooding can cause a lot of destruction to people's houses, and regular homeowner's insurance does not cover this damage. However, flood insurance will protect homeowners from the devastating damage that these floods can incur. This insurance will cover damage to many things including water heaters, furnaces, furniture, clothing, appliances, rugs, flooring and walls. It will also cover expenses related to sandbags, debris removal and clean-up. Flood insurance is not that expensive, and the advantages of purchasing it far outweigh the amount of money people would have to pay for repairs and replacements if they did not have it. People, who have homes in areas prone to flooding, may be eligible for a Preferred Risk Policy, or PRP. These policies protect homeowners against any damage caused by flooding. People can buy this insurance either through the National Flood Insurance Program, or NFIP, or through one of many private insurance providers. Although the government typically backs those private companies that provide flood insurance, people should always check the company's reputation to make sure they will be able to settle a claim if necessary. The cost of flood insurance varies depending on such factors as the provider that offers it, the amount of coverage people choose and the location of their homes. There are essentially two forms of flood insurance: actual cash value and replacement cost insurance. Actual cash value insurance will replace any property and/or possessions damaged in a flood minus the value of their depreciation. Replacement cost insurance will pay to rebuild people's homes to the same condition as they were before floods damaged them. One last thing, that people may want to consider when purchasing flood insurance, is excess insurance. Excess insurance will cover anything that the regular flood insurance cannot cover because it would exceed the maximum limit amounts of their insurance policies. Since it will take about 30 days, after people purchase their policies, before they will go into effect; people, who live in flood areas, should consider purchasing flood insurance as soon as possible.
"Flood Insurance" will cover damage resulting from a Flood. Homeowners Insurance will not.
You would have to purchase a separate policy. Flood is not covered on a homeowners policy and the flood program is set up by the government. Usually, the reason that people get flood insurance is because their mortgagee requires that you have it. If you are located in a flood plain, you can obtain a flood policy. A flood plain is an area that is deemed to have flooded in the past 100+ years. See your insurance agent about getting a flood insurance policy if you need one. Be aware, flood policies are offered by other companies as well as the government program. Also, flood coverage does not go into effect for thirty (30) days after you take out the policy. This prevents people from running to get a policy when a flood is already eminent.