Some areas of the state were flooded by the heavy rains over the weekend. Here's a refresher about floods and insurance:
- Homeowner policies typically do not cover flood damage. Flood damage is not on standard homeowner policies and most commercial policies, although many people assume it is. That can be a costly assumption. Your mortgage lender may require you to have flood insurance if your home is located in a flood-prone area, also known as a "special flood hazard area." You can estimate your property's flood risk online.
- Most people buy flood insurance through the government’s National Flood Insurance Program, which is run by the Federal Emergency Management Agency (FEMA). These policies are sold through local insurance agents and brokers, which you can locate online. As with most policies, there are limits to what is covered.
- If your vehicle is damaged in a flood, your auto policy’s comprehensive coverage typically will cover it. However, you should verify you have that type of coverage with your insurance agent or broker. Read more about auto insurance.