A Short Guide To Excess Flood Coverage

Flooding is one of the most common and destructive natural disasters that occur in the United States. Roughly 15 million US homes are at risk of flooding this year and each home that ends up flooding will require tens of thousands of dollars of work/replacement to repair.

Despite the immense risk flooding presents, most homeowners don’t have enough flood coverage to ensure they won’t have to pay anything out of pocket. Luckily, excess flood coverage┬ácan help.

What Is Excess Flood Coverage?

Excess flood coverage is a type of private insurance coverage that is designed to extend your flood coverage limits beyond those of government-sponsored flood coverage. You generally have to pay a small monthly or yearly fee to obtain excess flood coverage but it is well worth it to have peace of mind during the next heavy rainfall in your area.

Who Needs Excess Flood Coverage?

Anyone that lives in an area that is prone to flooding should consider their insurance options carefully. If your home is worth less than $250k, you may be fine with only government-sponsored flood coverage. However, if it costs $250k or above, it is very likely that you will need excess flood coverage in order to make sure your home is fully protected against flooding-related costs.

Flooding can be devastating to your home. Luckily, excess flood coverage can ensure you are covered, no matter how high the value of your home is.