Flood Insurance Information
Property owners in flood hazard areas are often unaware of the risk of floods and do not carry adequate flood protection insurance to cover potential losses. An important fact to know is that 25% of all flood insurance claims paid throughout the nation are for homes located outside of a designated flood hazard area. Flood insurance is available for all buildings including:
- Non-residential and commercial buildings
- Single family homes
- Town homes and condominiums
Packages & Other Insurance
Your regular homeowner insurance will probably cost more since it needs to cover the replacement of the home and contents if it is totally destroyed by a fire or tornado. However since most flooding in this area of the country results only in damage to instead of totally destroying a home, the amount of flood insurance coverage need only to cover the cost of any expected damages. Several combinations of building and content protection or content only are available.
Obtaining a Policy
If you don't have flood insurance, talk to your insurance agent. Homeowner's policies do not cover damage from floods. However because the Village of Indian Head Park participates in the National Flood Insurance Program, you can purchase a separate flood insurance policy. The insurance is backed by the federal government and is available to everyone, even if your property has flooded before or is not indicated as being in a Special Flood Hazard Area. It can not be canceled if you flood again.
Since flood insurance can cover big ticket items like furnaces, hot water heaters, washers and dryers; it is worth considering. For more information ask your insurance agent or company, call the National Flood Insurance Program's toll free at 888-CALL-FLOOD or check out the Flood Smart website. This website will also give you an estimate of the flood risk for your particular home, estimated insurance premiums and how to contact an insurance agent in your area.
Since most flood damages in Indian Head Park are a result of flooded basements, it is important to know what flood insurance does and doesn't cover.
Knowing What Insurance Covers
Under a basic building damage coverage, some of the things it will pay for in a basement includes:
- Central air conditioners
- Electrical outlets
- Hot water heaters
- Structural damage
- Sump pumps
- Switches and circuit breaker boxes
- Unpainted drywall for walls and ceilings
- Water softeners
Flood insurance will not pay for the following items in a basement:
- Books and bookcases
- Walls and ceilings not made of drywall
- Most personal property such as:
- Electronic equipment
- Kitchen supplies
With Optional Coverage
With optional content coverage it will also pay for the following items in a basement:
- Food freezers and the food in them (but not refrigerators)
- Portable and window air conditioners
An occasional cause of flood damage in Indian Head Park is a result of sewer backups, especially in older neighborhoods where the homes do not have overhead plumbing. Damages caused by a sewer backup are covered if the backup is a direct result of flooding. However, if the backup is caused by some other problem say like tree roots, the damage is not covered.