Auto Insurance Policy | Expert Tips On Insurance, Flooding

The series of heavy rains and high winds around the state recently have left many residents dealing with repairs and cleanup in the aftermath.

While damage from wind is generally covered under a standard homeowners? policy, flooding is not, according to the Insurance Institute of Michigan.

The insurance association advises residents to check with their insurance agent or company regarding current coverage limitations and, more importantly, inquire about adding coverage to your homeowners or renters policy to protect against such losses.

Some of these related damages are covered under a standard homeowners?, renters? or auto insurance policy; some are covered to a noted limit; while others typically apply through a separate policy endorsement.

Damages caused by high winds, tornadoes and hail are covered by homeowners?, renters? and commercial insurance policies, says the IIM. However, flood coverage is excluded from homeowners and renters insurance policies. This protection is available through the purchase of a flood insurance policy.

Check with your insurance agent or company representative for details. Many licensed agents offer flood insurance. If you?re having trouble finding flood insurance, call the National Flood Insurance Program?s agent referral program at 1-888-CALL FLOOD. Also, visit www.floodsmart.gov to assess your flood risk, get an estimated cost for flood insurance coverage or browse through a list of insurance agents writing flood insurance coverage in your location.

Insured storm-covered

perils include: Property damage from hail, high winds and flying debris. Damage caused by high winds, tornadoes and hail is covered by homeowners?, renters? and commercial insurance policies.

Houses or belongings damaged as a result of a fallen tree ? whether it is your tree or a neighbor?s tree? are covered under your homeowners? insurance policy.

Power failure: While homeowners? policies differ, food spoilage is normally excluded if the cause of loss is an off-premises power outage. Limited coverage may be added by endorsement (coverage usually up to $500).

Basement water backup: Coverage for water backup in basements (drains and sewers) is excluded from flood insurance and most homeowners? insurance policies.

However, this coverage is available by endorsement on many homeowners?

Source: http://insuranceforautocar.com/auto-insurance-policy-expert-tips-on-insurance-flooding/

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