Health insurance? Check! Auto insurance? Double check! Home and rental insurance? Check! What about Denver flood insurance? If you don’t yet have yourself covered in the event of a flood, it’s time to do your research and learn about the benefits it can provide, and the risks of not having this insurance for your home.
What Is Flood Insurance?
Like the name suggests, flood insurance helps protect and compensate you for any damages or accidents that occur in the event of a flooding incident in your home. This may seem like it should already be covered in your home insurance policy or in your rental insurance agreement, but this isn’t always the case. Often times, these policies limit the amount of damage that can be covered or reimbursed, and major natural disasters may be counted out entirely, especially if it wreaks major havoc in your home.
What Does Flood Insurance Cover For You?
A lot is covered under your flood insurance policy, but it’s important to look at a few areas that will almost definitely be damaged in the event of the flood, and wouldn’t be covered under regular homeowner’s insurance. These 4 high-risk damage points will be fully covered with flood insurance, making it worth the small additional cost for the protection and guaranteed coverage.
Your Important Appliances
Do you remember how much your refrigerator or washing machine cost? These appliances aren’t cheap, especially if you bought them new, and they’re some of the first things to go when a flood strikes your home. Flood insurance covers these essential appliances that are needed for daily life, to help repair or replace the ones that were damaged or lost.
HVAC Systems
Heating, cooling, and any sort of air filtration systems will also be covered with your flood insurance policy. Renter’s insurance may get involved here a little bit, since many rental agreements will state that if these aspects of your rental unit are damaged, it signifies unsafe living conditions – but it’s always better to play it safe than sorry.
Flooring Repairs
Carpeting can be ruined with less than an inch of water, especially if it’s there for an extended period of time. In fact, just one inch can bring over $20,000 in costly repairs to your budget, so flood insurance takes care of this for you. If your floors are unfinished under the carpeting, you may even be in for a bigger compensation reward.
Significant Valuables
Art collectors are one of the biggest victims to the damages that floods can bring, but it’s not limited only to them. Many homeowners have precious valuables like furs, antiques, or other collectibles that could be lost or damaged in a floor, or ruined completely. Flood insurance policies will usually cover valuables up to a specific dollar amount, so be sure to choose a policy that covers all of your valuables.
