Homeowners policy flood damage coverage

[Xiangfeng]

I'm a new homeowner in South Carolina, and I was wondering, does my homeowners policy cover me if my home is flooded, or do I have to by a separate policy to cover flood damage?

[Trip]

Originally Posted by Xiangfeng

I'm a new homeowner in South Carolina, and I was wondering, does my homeowners policy cover me if my home is flooded, or do I have to by a separate policy to cover flood damage?

It's my understanding that homeowners and flood insurance are two different things.

Flood insurance compensates you for all covered losses and coverage is relatively inexpensive. You can depend on being reimbursed for flood damages, even if the President does not declare a Federal disaster. You do not have to repay a loan, as you might have to with many Federal disaster relief packages. Your covered losses are paid in full. You can count on your claim being paid in the event of a flood loss because NFIP flood insurance is backed by the Federal government.

Contact your insurance agent as they are far more knowledgeable about such things.

[ObiWan]

Homeowners insurance and Flood insurance are two different things. When you buy a home, either new or resale, your Lender will require homeowners insurance, fire insurance, and sometimes flood insurance, depending the location of the house as it relates to the flood plane.