Guest Post by Eric Kossian of Leavenworth Insurance
Do you find yourself asking "Do I really need Flood Insurance in Leavenworth for my home?"
First of all, what is a flood?
A flood is surface water from any source including mudslide that affects at least two properties or at least 2 acres of dry land.
Damage from a flood is excluded under all homeowner's policies due to the high probability of a claim. Therefore, a separate policy is required for floods and/or these other perils:
- Landslide/Earth Movement
At least 6 ways flood coverage home damage is more limited than homeowner's coverage:
- The home damage can only be insured for up to $250,000.
- Coverage for a deck is limited to 16' square feet.
- There is no loss of use coverage to pay for you to live elsewhere.
- There is coverage for compliance to flood ordinances such as flood proofing, relocation or demolition or elevation requirements but they are limited to a maximum of $30,000.
- Any loss assessments from associations are included in the maximum dwelling amount.
- Flood policy provides up to $1000, for sandbags, temporary levees and pumps.
- Policy provides important coverage -even in a basement- for foundations, footings, pilings, posts & piers, stairways, furnaces, hot water heaters, circuit breaker boxes, electrical switches, outlets and junctions.
At least 5 ways flood coverage for contents damage is more limited than homeowner's overage:
- Contents coverage is limited to $100,000.
- The contents can only settled on an “actual cash value” basis (the depreciated value – not replacement cost like on a homeowner's policy.)
- There are special limits of $2,500 total for art, jewelry, memorabilia, furs & business property.
- There is no coverage for contents outside the insured structure.
- There is no coverage for any contents in a basement!
Source: National Flood Insurance Program
Eric Kossian is an Underwriting Specialist at www.InsurePro.info which provides exceptionally broad auto, home and liability umbrella policies for qualifying homeowner's throughout Washington State including flood insurance in Leavenworth as well as supplemental policies for Earthquake, Landslide/Earth Movement and Flood/Mudslide. Contact [email protected] for more information. 877-548-5488