Is flood damage covered under my New York homeowners insurance policy? The answer depends on what type of policy you have and how the water entered your home. There are two types of insurance that address water damage - a home insurance policy and a flood insurance policy. Going over the basic coverages that each policy covers with your insurance agent can help to answer any questions you may have.
Homeowners Insurance Policy - Your homeowners insurance policy does not provide flood damage coverage. It does cover many types of water damage that can occur but once the water meets the ground it is considered a flood and will not be covered.
Flood Insurance Policy - Flood damage to your home can only be insured with a New York flood insurance policy and no other insurance will cover flood damage. When researching flood insurance, keep in the term “rising” in mind. Typically, water that has been on the ground at any point is considered to be flood damage.
Keep in mind that flood insurance and homeowners insurance do not duplicate coverage for water damage; instead they compliment each other. Consult with one of our professional agents at Gregg Stephens Insurance to make sure you have the right coverage at a competitive price. Give us a call today at 516-594-0438.