Flooding is Not Covered by Your Business or Homeowner's Insurance
Wednesday, November 16, 2011
Artist's studio in Shelburne Falls, MA was swept
down the street Irene flooding. Photo: John Sendelbach
The widespread flooding that followed Hurricane/Tropical Storm Irene up the coast from North Carolina to Vermont where the CERF+ office is located, has been a painful reminder of something we hear after every flood. That is, that many artists, business owners, and homeowners mistakenly assume that their insurance covers them for flood damage. Homeowner's and business insurance does not cover any damage from floods, or "rising water."
Because private insurance underwriters have mostly stayed away from flood insurance, the federal government has made flood coverage available through the National Flood Insurance Program (NFIP). The plan is administered by the Federal Emergency Management Agency (FEMA) and policies can be purchased through private insurance agents.
1 comment(s) so far...
By JackC on
Tuesday, January 24, 2012
Re: Flooding is Not Covered by Your Business or Homeowner's Insurance
I read on the FEMA website that flood insurance is also available to renters. The only catch is that your community has to participate in the flood insurance program in order for you to be able to purchase flood insurance.