Both flood and homeowner’s insurance offer dynamic coverage for property owners. However, each requires periodic reviews to confirm the coverage is right for your residence. The Lee Insurance Agency, LLC, which serves North Carolina, can help determine whether flood or homeowners insurance is best for your needs.
What Claims are Covered by Flood Insurance?
Flood insurance is provided by the National Flood Insurance Program (NFIP) to properties located in high-risk flood zones. The coverage protects both the structure of the home and personal property from extreme storm surges and mudslides. Additionally, it covers damage resulting from overflowing lakes, ponds, or oceans. However, flood insurance does not cover plumbing issues, local sewer backups, or water damage that originates from inside the home.
What Claims are Covered by Homeowners Insurance?
Purchasing a home is a milestone for an individual or married couple. A homeowner’s insurance policy is the primary coverage for all homes. It protects against all damage caused by fire or theft. Yes, coverage is available for water damage, but the policy does not offer protection against flood damage caused by a nearby rising body of water.
Typically, most claims are for damage caused by rain entering the home through a leaky roof or busted water pipes. However, if there is evidence of negligence on your part for failure to make necessary repairs, your claim may be denied. If age and deterioration were the cause of the water damage, the policy covers all repairs or replacement of your personal property. However, no assistance with the repairs or replacement of the roof or water pipes.
Deciding between flood and homeowner’s insurance is a difficult choice for a policyholder. Choosing incorrectly could change everything for you. Lee Insurance Agency LLC in North Carolina can provide relevant information to help make your policy decision easier. Call and schedule an appointment today.
