Do home insurance plans typically cover flooding? I ask because a home that I'm considering buying is only about a block from the shore (in earthquake-prone northern California) and we all learned a few years ago that earthquakes can cause tsunamis, dams/levys can break, etc.
Any other considerations to be had?
Thanks!
2007-10-09 07:36:24 · 12 answers · asked by Kavan Lee 2 in Business & Finance ➔ Insurance
Flood insurance is usually sold separately, and the need for it is usually described on the plat for the property (Class X, A, etc.). The only other consideration I can think of is maybe move somewhere that doesn't have earthquakes? :)
2007-10-09 07:49:12 · answer #1 · answered by Pundit 3 · 1⤊ 0⤋
Get and compare quotes from different companies at - INSURERATES.INFO-
RE Home insurance?
Do home insurance plans typically cover flooding? I ask because a home that I'm considering buying is only about a block from the shore (in earthquake-prone northern California) ...show more
2014-09-28 10:20:17 · answer #2 · answered by Nikolos 1 · 0⤊ 0⤋
Help yourself you can check your quotes in internet for example here http://SAVEFINDER.NET/ljcimZL452
RE Home insurance?
Do home insurance plans typically cover flooding? I ask because a home that I'm considering buying is only about a block from the shore (in earthquake-prone northern California) ...show more
2014-10-13 05:11:27 · answer #3 · answered by Annamarie 1 · 0⤊ 0⤋
Your home insurance will not cover you for a flood. Any water coming up from the ground (maybe in the case of a burst pipe) would not be covered and you'd need a separate flood policy. FEMA sells flood insurance through agents and you can find one close to you on their website. Flood insurance can be very expensive depending on the flood zone you're listed in. If you're close to water or in a low lying area you can probably expect to pay more than double what you're paying for an annual homeowner policy. Find a local agent who sells flood and ask them some questions.
2007-10-09 09:31:57 · answer #4 · answered by Jacko 3 · 1⤊ 0⤋
Insurance policies vary by state. I know that in TN, flood insurance is a separate policy, not sold in conjunction with a homeowners policy, and the insured is responsible for purchasing it if they need it. At times, a lender may specifically request that an insured have flood insurance on a property if that property is deemed to be in a flood zone.
2007-10-09 07:50:12 · answer #5 · answered by Christy 2 · 1⤊ 0⤋
No, home insurance policies do not cover flood! It is a separate policy offered by FEMA through your insurance agent! You are probably required to buy flood insurance from your mortgage company by the time of your closing. Good luck!
2007-10-09 07:51:21 · answer #6 · answered by dance_17_2001 1 · 2⤊ 0⤋
No, you need flood insurance. Ask anybody in New Orleans whose house got wiped out by Hurricane Katrina and hasn't been paid.
Also, ask your agent about direct damage from earthquakes (the shaking).
2007-10-09 08:09:58 · answer #7 · answered by Ted 7 · 2⤊ 0⤋
The standard homeowners policy does NOT pay for flooding. It also does NOT pay for earth movement (ie-earthquake). Both of these can be purchased for an additional expense.
2007-10-09 12:49:17 · answer #8 · answered by Boots 7 · 1⤊ 0⤋
You can easily get and compare quotes from different companies at: INSTANT-INSURANCE.NET
2014-06-10 01:06:05 · answer #9 · answered by Anonymous · 2⤊ 0⤋
Standard homeowners and renters insurance does not cover flood damage.
2015-08-05 23:09:36 · answer #10 · answered by ? 2 · 0⤊ 0⤋