Homeowners Insurance vs. Flood Insurance: What’s the Difference?

homeowners vs. flood insurance

Many people believe that their standard homeowners policy covers all types of water damage including flooding. Unfortunately, this is not the case. Let’s dive deeper into the differences between homeowners insurance and flood insurance.

What types of water damage does homeowners insurance cover?

Whether or not your homeowners insurance will cover water damage depends significantly on the source of the damage. If it comes from inside your home, then your homeowners policy will likely cover it. Homeowners insurance will cover damage from sudden plumbing issues, appliance overflows, and fire extinguishing.

What is not covered?

Homeowners insurance does not cover all types of water damage. Here are a few instances that are not covered:

  • Flooding is not covered since it comes from a source outside the home. It can be covered through flood insurance.
  • Source of the water damage. Homeowners insurance will cover damage caused by the source of the damage but not the source itself. For example, if your washing machine caused water damage to your floor, then the damage to your floor will be covered. The repairs to your washing machine will not.
  • Negligence is also not covered by your homeowners policy. Water damage resulting from maintenance problems that were not attended to will not be covered.

What is flood insurance, and what does it cover?

Flood insurance is property insurance that covers damages resulting from flooding. Floods can be caused by heavy rain, melting snow, coastal storm surges, and more. Flood insurance can cover the property’s structure and/or its contents. It can cover structural damage to the building and its foundation, electrical and plumbing systems, refrigerators, built-in appliances, and more.

Where can I buy flood insurance?

Flood insurance can be purchased through the National Flood Insurance Program (NFIP), either directly or through an insurer that sells the coverage, or directly from a private insurance company.

Your home is likely one of your biggest investments. Make sure you and your home are protected if disaster strikes. Contact one of our experienced Avery Hall agents today at 410-742-5111 to learn more.

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