What Does Flood Insurance Cover?
Depending on the policy you choose, it may cover both a building and its contents, or either one separately. Contents coverage can reach $100,000, where building coverage can reach $250,000. Coverage rates will depend on your property’s rate band.
For building coverage, a flood insurance policy will usually provide help for the following:
For contents coverage, it will usually provide help for the following:
What Isn’t Covered By Flood Insurance?
Typically, it will not cover any water damage that you as a homeowner could have prevented. This includes mildew, moisture and mold. Water damage to basements is covered, but on a limited basis. None of the following will be covered by flood coverage:
- Business losses due to interruption by flood
- Item considered possessions, but stored outside of the building
- Most vehicles
- Loss of important papers, cash or precious metals
You will also not be covered for any costs you incur should you have to leave your property due to flood damage making it uninhabitable. But ALE (Alternative Living Expenses) insurance is there to cover you if it has already been included in your regular Houston homeowners insurance policy.