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Flooding is an issue in Memphis, TN, due to its location on the Mississippi River. It’s a problem that’s as old as the city, and thousands of homes are at risk of flooding. It’s a good idea to get flood insurance to protect your home against water damage, even if you’re not near flood-prone areas. At Anthony Lancaster Insurance, Inc., we help our customers understand how this type of insurance works. Here’s a look at what it doesn’t cover.
Flood Insurance Won’t Cover Everything
Basic flood insurance through the National Flood Insurance Program (NFIP) is limited to replacing certain items, including your home. However, it doesn’t cover the following:
- Valuable papers, precious metals, stock certificates, and money in the form of currency
- Vehicles
- Personal items stored in a basement
- External structures such as pools, decks, and septic systems
- Temporary housing costs and related living expenses during home repair
Understanding what flood insurance doesn’t cover can help you make plans to protect these items. You’re less likely to lose valuables when you have a contingency plan.
Why Flood Insurance Coverage Is Limited to Certain Items
Some of your possessions are covered by their insurance policies. For example, your car is covered for flood damage as long as you have a comprehensive insurance policy. It’s worth noting that basic homeowners insurance will not cover any damage caused by flooding.
Contact Anthony Lancaster Insurance, Inc. for More Information
Navigating flood insurance can be difficult. Our agents are here to show you what a policy does and doesn’t cover, and how it works when making a claim. Contact us to learn more and find out why it’s a good idea to get insured against flood damage. We’re currently serving Memphis, TN.
