Flood Insurance

Standard home insurance doesn't cover flooding. Flood insurance protects two types of insurable property: building and contents. Neither of these types cover the land they occupy. Insurance One offers private flood insurance options, along with helping homeowners get coverage through the National Flood Insurance Program (when applicable).

Building Coverage Includes:

• The insured building & foundation

• The electrical & plumbing system

• Central air conditioning equipment, furnaces & water heaters

• Refrigerators, cooking stoves & built-in appliances like dishwashers

• Permanently installed carpeting over unfinished flooring

Contents Coverage Includes:

• Clothing, furniture & electronic equipment

• Curtains

• Portable & window air conditioners

• Portable microwaves & dishwashers

• Carpeting that's not already included in the Building coverage

• Clothing washers & dryers

How Does Reimbursement Work?

The two most common reimbursement methods for flood claims are: Replacement Cost Value (RCV) and Actual Cash Value (ACV).

RVC: This is the cost to replace damage property and it's reimbursable to owners of single-family, primary residences that are insured to within 80% of the buildings replacement cost.

ACV: This is the RCV at the time of loss, minus the physical depreciation. The ACV is used to reimburse all other building-types (outside of single-family, primary residences) and is always used for personal property.

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