Depending where your home is located, especially if it is near a body of water, you may be required to carry Flood Insurance on your Home or even where you are just a Renter. Flood Insurance is crucial in the event of a major weather event causing wide spread flooding in an area and it covers things that a traditional Home Insurance or Renters Insurance policy would not. Click here to get started on a Flood Insurance quote today or click here to find and call a local office near you.

Flood Insurance is governed by the National Flood Insurance Program (NFIP). The National Flood Insurance Program provides coverage for up to $250,000 for the structure of the home and $100,000 for personal possessions. The NFIP policy will provide replacement cost coverage for the structure of the home, but only actual cash value coverage for your possessions. If needed, some private insurers do offer excess flood insurance.

Replacement Cost coverage pays to rebuild your home as it was before the damage. Actual Cash Value is replacement cost coverage minus depreciation so in general the older your possessions are, the less money you will get in the event they are damaged.