Flooding In Your Basement Is Often A Non Insurance Covered Item
Learn Why Your Insurance Typically Does Not Cover Basement Flooding? Flooding in your basement can happen for many reasons.
These can include: a broken sump pump, natural disasters and simply being located in a flood plain.
Most people realize that their standard homeowner's insurance doesn't cover flooding at all, let alone in the basement; but what about National Flood Insurance? The National Flood Insurance Plan (NFIP) does offer a bit of basement coverage.
But it defines a basement as "any building area with a floor below ground level on all sides.
" You will find that improvements to your basement (finished walls, floors, ceilings) are not covered by flood insurance.
Neither are the contents: your personal belongings and furniture.
What are covered are the structural elements of your basement and essential equipment, as long as it is installed for use and connected to a power supply if needed to use it.
The reasons for this are actually quite simple.
Basements, being underground, are often subject to flooding.
They are the most likely part of your house to suffer when water seeps into the interior.
Because of this, homeowners should make preparations for waterproofing any finished areas rather than rely on insurance to replace damaged goods.
Flood insurance is designed to protect the structure of your home.
So the foundation of your basement and any equipment required to support that structure is included.
Contents are insured separately, even under the NFIP.
While you assume the risk for most belongings you store in your basement, some items are covered under content coverage.
For example, your washer and dryer are items often used in the basement rather than the main dwelling area, so the National Flood Insurance Plan (for contents) covers them, even if they are used in your basement.
The same is true of the freezer or refrigerator you use to store extra food in your basement as well as the food stored in it.
It's important to know what is and is not covered by your insurance policy with regards to basements.
Some homeowner's policies have riders that will cover broken water lines and sewage backups.
The NFIP covers flood damage to your home's structure (with additional coverage available for contents), but does not cover items in your basement.
The protection you receive is an important way to get back on your feet after a flood.
However, it is also important to keep in mind the reason behind the insurance and why basement improvements aren't usually included.
These can include: a broken sump pump, natural disasters and simply being located in a flood plain.
Most people realize that their standard homeowner's insurance doesn't cover flooding at all, let alone in the basement; but what about National Flood Insurance? The National Flood Insurance Plan (NFIP) does offer a bit of basement coverage.
But it defines a basement as "any building area with a floor below ground level on all sides.
" You will find that improvements to your basement (finished walls, floors, ceilings) are not covered by flood insurance.
Neither are the contents: your personal belongings and furniture.
What are covered are the structural elements of your basement and essential equipment, as long as it is installed for use and connected to a power supply if needed to use it.
The reasons for this are actually quite simple.
Basements, being underground, are often subject to flooding.
They are the most likely part of your house to suffer when water seeps into the interior.
Because of this, homeowners should make preparations for waterproofing any finished areas rather than rely on insurance to replace damaged goods.
Flood insurance is designed to protect the structure of your home.
So the foundation of your basement and any equipment required to support that structure is included.
Contents are insured separately, even under the NFIP.
While you assume the risk for most belongings you store in your basement, some items are covered under content coverage.
For example, your washer and dryer are items often used in the basement rather than the main dwelling area, so the National Flood Insurance Plan (for contents) covers them, even if they are used in your basement.
The same is true of the freezer or refrigerator you use to store extra food in your basement as well as the food stored in it.
It's important to know what is and is not covered by your insurance policy with regards to basements.
Some homeowner's policies have riders that will cover broken water lines and sewage backups.
The NFIP covers flood damage to your home's structure (with additional coverage available for contents), but does not cover items in your basement.
The protection you receive is an important way to get back on your feet after a flood.
However, it is also important to keep in mind the reason behind the insurance and why basement improvements aren't usually included.
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