GT Insurance Blog

Insurance problems and cures

Flood Insurance – NFIP – National Flood Insurance Program

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We received a two part question about floods and basements.
1) If the NFIP definition of flood requires 2 or more acres or 2 or more contiguous properties to be affected, does that mean that if my basement floods and my neighbor’s doesn’t, I don’t have coverage?

Probably not. And what the NFIP defines as flood is not necessarily what you and I would call a flood. For many water losses in basements, you would be better off with Backup of Sewer and Drain coverage. That’s cheap and available from your standard Homeowner’s Policy. Give us a call at 1-800-548-2329 to discuss the issue.

2) What does the NFIP cover in basements?

Not much. It covers damage to home systems, like the heating system, not movable furniture and stored items. Again, give us a call if you want to go over the details.  Our New Jersey insurance number is 1-973-426-1500

Written by gbwinsurance

February 23, 2010 at 10:16 am

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