Most standard homeowners insurance policies don’t cover flood damage claims. If a property owner lives in a designated flood zone or an area that is prone to flooding, they may be required to purchase flood insurance by their lender.

Even if a homeowner does not have flood insurance, they may be able to get limited federal disaster assistance for flood damage. However, federal disaster assistance is only available if the President formally declares a disaster. Furthermore, federal disaster assistance is provided as a loan which must be paid back with interest. Flood insurance, however, will typically cover damages even if a disaster has not been declared.

Flood insurance may cover damages to the basement of a dwelling, but it depends on the specifics of the policy and the cause of the flood or water damage. Flood insurance may not cover basement damage if the cause of the flood is due to the failure of a sump pump or other water removal system, or if the damage is caused by a sewer backup. It's important to carefully review your policy to understand what is and isn't covered.

It may be beneficial to consider purchasing private flood insurance if you are looking for coverage options that may not be available through the National Flood Insurance Program (NFIP), if you're not in a NFIP participating community, or if you are looking for higher coverage limits. Private flood insurance may also offer more flexibility in terms of deductibles and policy terms. It's important to carefully review and compare policies to ensure that you are getting the coverage you need. It may also be helpful to consult with an insurance professional to determine the best option for your specific needs and circumstances.

The costs for flood insurance depend on several factors, including the age and construction type of the home, whether the property is located in a flood risk zone, and insurance coverage levels, among others. Contact Acrisure to be connected to an insurance professional that can help you access a personalized solution that is right for you.

Flood insurance typically does not cover damages due to sewage backup. Water or sewage back up from a drain is generally considered separate from the types of water damage covered by flood insurance policies. However, some homeowners insurance policies may offer coverage for water or sewage backup as an additional endorsement. It's important to carefully review your policy to understand what is and isn't covered. Contact Acrisure for guidance on homeowners insurance policy add-ons.

Flood insurance may cover foundation damage. Generally, flood insurance covers damage to the structure of a home and its foundation. Flood insurance may not cover foundation damage if the damage is caused by a pre-existing condition, such as settling or cracking prior to the flood. It's important to carefully review your policy to understand what is and isn't covered.

Private flood insurance is typically not transferable, so if someone is buying a new home, they'll need to obtain their own flood insurance policy prior to closing if it is required by the mortgage lender, or at any point the protection is desired. Acrisure's licensed agents with flood insurance expertise can help.

NFIP (National Flood Insurance Program) insurance is typically transferable. The home seller can use an NFIP transfer form to have the buyer assume the policy. For more details, see the NFIP website.