Floods are one of the most commonly occurring natural disasters in America, accounting for about $8.2 billion in damages every year. However, floods typically aren't covered under homeowners or renters insurance, so it's up to homeowners to pursue a separate policy to cover themselves in the event of a flood. Additionally, flood insurance is not state-mandated in Tennessee under most conditions.
Although flood insurance usually isn't included in your standard home insurance policy, there are some conditions under which homeowners may be required to carry flood insurance.
While flood insurance isn't always required, it can be a tremendous help in the event of an unexpected flood. According to FEMA, more than 20% of flood damage is incurred in non-high-risk flood areas.
Like any insurance policy, flood insurance won't cover everything. For all rooms below the ground floor, such as basements and crawlspaces, coverage is limited. Damages caused by the earth moving, even if the earth moved because of the flood, are not covered. Additionally, flood insurance will only cover damage from a sewage backup that occurs as a result of the flood. For full details of what's covered under a typical flood insurance policy, speak with an agent at Jack Ray Insurance Agency.
Finding flood insurance for your Tennessee home is easy, especially with the Jack Ray Insurance Agency. Speak with one of our agents at our office in Humboldt, TN, or give us a call to learn more about flood insurance and get a quote today.