insurance

Drying up 6 myths about flood insurance

Drying up 6 myths about flood insurance
Drying up 6 myths about flood insurance

If your home is damaged in a flood, are you covered?

That depends on the value of your home, the level of water damage and whether you have flood insurance.

Regular homeowners insurance policies don't cover flood water damage. And policies through the National Flood Insurance Program top out at $350,000 for your home and goods. So you may need supplemental coverage if your home and possessions total more than that.

But, while people tend to associate floods with a total loss, the average flood claim for U.S. homeowners is about $30,000, according to the National Flood Insurance Program.

Here are six myths that persist about flood insurance -- and the truth you need to know.

advertisement

Show Bankrate's community sharing policy
          Connect with us

Compare multiple quotes in just 6 minutes

Get competing rates from top companies including:
advertisement
CD & INVESTING NEWSLETTER

Learn the latest trends that will help grow your portfolio, plus tips on investing strategies. Delivered weekly.

Blog

Jay MacDonald

Fall maintenance for Obamacare

Submit Obamacare proof of income documents by Sept. 30, but beware of HealthCare.gov fall maintenance.  ... Read more

advertisement
Partner Center
advertisement

Connect with us