Don’t be caught without flood insurance in St. Charles. Contrary to what some homeowners may think, everyone lives in a flood zone. While some properties are specifically designated as “high-risk” areas, flooding can occur anywhere it rains. In fact, the Federal Emergency Management Agency (FEMA) states that one in five flood claims comes from properties in low- to moderate-risk flood zones.
Nearly all Homeowners Insurance policies exclude coverage for damages caused by flooding. Without a Flood Insurance policy, your family would have to pay out-of-pocket for any water-related damages to your home. Learn more about this valuable coverage for homeowners nationwide, including residents in the St. Charles and St. Louis areas.
Please note – these coverages are available for residential homes. Businesses require a different type of Commercial Flood Insurance.
A Closer Look at Flood Insurance Coverage
All Flood Insurance policies are provided by insurers who participate in the federal government’s National Flood Insurance Program (NFIP). So, no matter where you buy your policy from, it will cost the same and include the same protections.
A Flood Insurance policy includes:
- Building property coverage – For the physical structure of your home, including its infrastructure. This portion of a Flood Insurance policy provides coverage for the electrical and plumbing systems, furnace or A/C, water heaters, built-in appliances, carpeting, paneling, blinds and detached garages. NOTE: For residential Flood Insurance, building property coverage has a maximum limit of $250,000.
- Personal property (contents) coverage – For the belongings inside your home, including clothing, furniture, electronics, portable appliances, washers, dryers, freezers and the food inside them, among other items. NOTE: For residential Flood Insurance, contents coverage has a maximum limit of $100,000.
- Other emergency assistance coverage – Including debris removal, loss avoidance measures and increased cost of compliance, which could include flood proofing and/or relocation. Living expenses prior to relocation, such as temporary housing, are not covered.
If you need protection beyond the $250K/$100K limits on a standard Flood Insurance policy, you may be able to purchase a separate Excess Flood policy. Contact Us to discuss this option.
Flood Insurance FAQs
- Do I need Flood Insurance?
Regardless of whether or not you live on a floodplain, Flood Insurance provides valuable coverage for water damage. Water damages are almost always excluded from a standard Homeowners Insurance According to FEMA, just one inch of water inside your home can cost $27,000. Would you be able to pay that much (or more!) out-of-pocket comfortably? If not, Flood Insurance is a smart decision for your family. If your home is located in a designated “high-risk” area and is financed through a mortgage lender, you will probably be required to carry Flood Insurance.
- Does Flood Insurance cover any type of water-related damages?
There are a couple of important water damages that are not covered by a Flood Insurance policy, including:
- Damage that could have been avoided, such as mildew or mold.
- Sewer backup, regardless of whether or not this was caused by flooding. This hazard is covered by a type of policy called Water Backup Coverage.
- Does Flood Insurance cover all of my property?
Flood Insurance is designed by FEMA to provide emergency assistance to get you back on your feet after water has damaged your home. Below are some important coverage exclusions, which include:
- Valuables that cost more than $2,500 per item, such as expensive jewelry or artwork. These belongings are covered by a separate policy called Luxury Item Insurance.
- Property and belongings located outside the physical structure of your home, such as landscaping, a fence or pool. Detached garages are covered by Flood Insurance.
- Any flooring or personal belongings located in your basement.
- What factors influence the price of Flood Insurance?
Because Flood Insurance is provided through the NFIP, the price you pay will not differ from company to company, or from agent to agent. The amount you pay is primarily determined by the flood risk of your property. Other relevant factors include:
- The year your home was built
- Number of occupants in the home
- The number of floors
- Location of contents
- Location of the lowest floor in relation to Base Flood Elevation
- The deductible and amount of coverage you select
For information about deductible, premium and more, visit our Glossary of Insurance Terms.
- Is Flood Insurance effective immediately after I purchase it?
There is a standard 30-day waiting period after you buy Flood Insurance. The NFPI provides a couple of exceptions, including buying Flood Insurance in connection with the requirements of a mortgage (i.e., with a closing timeline of less than 30 days).
Getting Started with Flood Insurance
Flood Insurance is not just for those who live by a river or stream. Located in St. Charles, Missouri, Webb Insurance helps you protect your home from water damages that arise out of any unforeseen risks, regardless of whether or not your mortgage lender requires you to carry Flood Insurance. Whether you live in Missouri, Illinois or another state, one of our Insurance Brokers can work with you 1:1 to find and secure the best coverage to meet your needs.
Ready to take your home protection plan to the next level? Get a free Flood Insurance quote, today!