Will Flood Insurance Cover Foundation Repairs?

Flooding is a high risk in many areas. Yet, most standard property insurance plans — including home insurance policies — specifically do not cover floods.

There is a valid reason why flood insurance is generally excluded from standard insurance policies. By nature, flooding brings a high damage toll. Additionally, many items impacted by floodwaters are not salvageable, and must be replaced entirely.

With all this in mind, flooding often requires specialized insurance, known as flood insurance. And it behooves you to purchase this specialized coverage, particularly if you live in an area where flooding is a risk.

What Does Flood Insurance Cover?

Flood insurance can provide financial protection for losses stemming from a significant flood. This includes protecting the building and the foundation. It may also cover:

Electrical and plumbing systems
Any permanently installed flooring
HVAC systems — including water heaters, air conditioners, and furnaces
Any type of permanently installed fixtures — such as bookcases, cabinetry, and paneling
Detached garages and structures (when listed on the plan)

What About Soil Runoff Damage To The Foundation?

Homes experiencing flooding sometimes suffer damage to the foundation. This can often happen as a result of soil runoff. The waters from a flood can pull soil away from the foundation, exposing it to cracks, settling and other issues. When this happens, it can lead to very costly repairs.

If you have this type of damage, it is very important to take the following steps:

If you notice any runoff occurring, make repairs immediately to protect the foundation.
Report any damage from the flooding to your insurance agent. He or she will inspect the property.
Take action as soon as you notice damage to the foundation — such as cracks, settling, or water leaks. Don't allow the problem to go on unattended.

In many cases, your flood insurance policy will help cover the cost of repairs. However, you should repair the foundation as soon as possible to avoid any negative long-term impacts.

Here's another reason to take swift action: Your flood insurance provider is unlikely to provide funds for repairs if they determine the foundation problem is a result of negligence. Your insurer can offer more specifics on your situation, but know that going without this coverage in a situation like this can be very expensive and risky.

If you have questions about protecting your property from flood damage, call Affordable Insurance Group at (803) 798-4499. Or you can request a flood insurance quote right now.