Water, Water Water everywhere. Here are a couple of situations that come up when we have heavy downpours like we had last night. What sort of insurance coverage do you need when water comes into your house or basement? The answer depends on how it came in. If it is sudden overflow of surface water, that is considered a flood and the only way to have insurance protection for that is through flood insurance. We offer flood insurance through the National Flood Insurance Program. The NFIP is managed through the Federal Government. Prices in low flood areas start as low as $129, but you don't get much for that.
The other type of water loss we see is back up through your sewer or sump pump. This can be covered through an endorsement to your homeowner's policy. Many of our companies offer a basic endorsement with $5,000 worth of coverage, but you can add more for an additional premium. It's an important consideration especially if you have a finished basement.
One coverage that isn't available is for water seeping through basement walls when the water builds up in the ground and seeps in.