Having flood insurance can provide significant financial protection after a major event occurs. For those properties located in a high-risk area, the need for this coverage is very valuable. It can help with making repairs to the structure and foundation. It can also cover the loss of permanent fixtures and features.
In addition to this, most flood insurance plans help with the cleanup efforts. This can make it a must-have for many property owners. Cleanups are often very costly.
What Cleanup Does It Cover?
To determine how much cleanup coverage you have, check your flood insurance policy. In most cases, though, it can help to cover the costs related to the following types of cleanup:
- Removal of water from the space (such as pumping or draining)
- Removal of damaged furnishings and permanent structures such as carpeting and flooring
- Removal of soil and other debris located within the structure
- Cleanup costs resulting from the need to replace drywall
- Cleanup and disposal costs related to replacing major appliances. These may include things such as the air conditioner, water heater, or furnace
When a water event like this happens, the damage can be extensive. Water not only gets into the home. Certain features like the drywall and foundation absorb it.
Cleanup generally also includes steps such as mold and mildew eradication. This can be very expensive and hard to do. Flood insurance can offer financial coverage to remove the water and all damaged components of the home. This is often in an effort to reduce the risk of mold growth.
Coverage Specific to Your Policy
Flood cleanup coverage ranges significantly from one policy to the next. It is important for you to work closely with your agent to determine what exclusions apply.
For example, if the flooding is a result of a broken pipe in your home, rather than a weather event, it may not apply. In this case, your home insurance may cover the damage. If the damage results from a sewer line break, cleanup may not have coverage.
Flood insurance is one component of the protection you should have as a property owner. Protecting the value of your home means having a comprehensive plan and set of policies in place.
Insurance Planning Service can help you get the best Michigan flood insurance policy to meet your needs. Call us at (800) 220-5582 for more information.