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Many people believe that the only time flood insurance is necessary is if you live near a river or lake. However, homeowners insurance will not cover flooding.

This can be a little complicated. Most policies will cover water that enters your house if it falls under the provision of "storm driven" flooding. A simple example is that something hits a window and allows rainwater to enter the home, damaging furniture and carpeting.

However, if the damage is the result of rising water, which can be anything from a clogged drainage ditch to excessive rainfall that floods your yard, then the flood insurance policy can apply. Flood insurance is provided or underwritten by the federal government. However, it is sold to homeowners by many insurance companies that also provide traditional homeowners coverage.

In many cases, depending on the elevation of your property or proximity to a river or lake, flood insurance may be required by your mortgage company. Flood insurance policies provide coverage for the actual structure and additional optional coverage for your possessions, with premiums paid on an annual basis.

The cost of the coverage can be affected by several factors, such as location, age of the dwelling and the elevation of the property. When flood insurance is purchased, the policy will cover the value of the home and will be adjusted for inflation each year upon renewal. Coverage of the possessions within the house is provided at different levels from which the homeowner can choose.

Finally, if purchasing flood insurance or homeowners insurance, it is wise to take an inventory of the items in your house, such as furniture, appliances, antiques, computers and any other items of value. This inventory and/or photos of your belongings helps your insurance provider process a claim.

We’ll help you find the right coverage. Call Adcock-Adcock Insurance Agency at (813) 933-6691 for more information on Tampa flood insurance.

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