Flood Insurance in Birmingham, AL
In the aftermath of a flood, you and your property may find yourself in dire straits. Given the potential damage to buildings, destruction of property and financial implications of these natural disasters, floods must be considered a severe threat. However, unlike fires and other common perils that standard insurance policies may cover, you may need to augment your coverage with additional help to ensure financial aid for floods. 
What Is Flood Insurance?
Flood insurance is a type of policy specifically aimed at protecting you from financial losses arising from floodwaters that impede on your property. This can fill a common and risky coverage gap, as most standard homeowners, renters and commercial property insurance policies do not include floods as covered incidents. Without this insurance, you would potentially have to pay exorbitant repair, restoration and replacement costs out of pocket.
What Does My Policy Cover?
As with many insurance products, your flood coverage can often be tailored to suit your situation, including your needs, risk tolerance and budget. Still, in most cases, you can generally expect a policy to assist with the following costs:
- Building repairs—If a flood damages an insured structure, your coverage may offer aid for rehabilitation and repairs.
- Damaged contents—The contents of insured structures are also typically covered, meaning you could receive a payout as compensation for damaged furniture, electronics and other possessions.
- Cleanup costs—In some cases, receding floodwaters may leave behind debris and contaminants. You may be able to submit a claim to help with the resulting expenses.
Who Needs Coverage?
Flood insurance may be one of the most crucial investments a property owner ever makes. Without adequate coverage, losses from even a slight amount of floodwater could have far-reaching financial ramifications. Additionally, certain parties may be beholden to formal obligations regarding coverage. For example, if you have a government-backed mortgage in an area the Federal Emergency Management Agency has assessed as being at high risk of floods, you’re likely required to have coverage.
We’re Here to Help
Contact Bama Insurance Services today to learn more about flood insurance or to get a free quote.
This blog is intended for informational and educational use only. It is not exhaustive and should not be construed as legal advice. Please contact your insurance professional for further information.