Inland Flood Coverage is an affordable enhancement to your standard homeowners insurance policy, which typically excludes damage caused by flooding. In areas that are prone to flooding, inland flood coverage can be an important safeguard for property owners who want to protect their assets and minimize the financial impact of flood damage.
What Is Inland Flood Coverage?
With Inland Flood Coverage added to your policy, your home is protected for damage caused by flooding from inland waters, such as lakes and rivers or an unusual and rapid accumulation or runoff of surface waters from any source, including, but not limited to rainfall, ice melt, or mudflow. It is an affordable endorsement and covers damages to the structure of the property and any personal belongings that were damaged or destroyed by the floodwaters. Depending on the policy, it may also cover costs associated with cleanup and repairs.
Who Is Eligible for the Inland Flood Coverage Endorsement?
Homeowners, condo owners, and renters in FEMA flood zones except those beginning with A and V prefixes or in surge exposed areas are eligible for this coverage.
What Coverages Are Included in the Inland Flood Coverage Endorsement?
Subject to exclusions and conditions of the policy, the IFCE protects from the most common inland flood losses, including, but not limited to:
- Damage to your residence and certain other structures
- Damage to personal property, including property in a basement
- Debris removal
- Property removed to safety for a period of 30 days
- Additional living expenses and loss of rent if your home must be vacated due to flooding
What Property Is Not Covered?
Exclusions include, but are not limited to, damage to:
- Personal property not inside the home, such as patio furniture and grills
- Decks and fences
- Lawns, trees, and landscaping
- Hot tubs, spas, and swimming pools
What Types of Losses Are Not Covered?
- Loss of revenue or profits
- Seepage from the water table rising not caused by flood
- Water damage caused by backup of sewers or drains not caused by flood
- Cleanup, removal, and pollutants
Are There Special Requirements to Qualify for Coverage?
Not all risks will qualify for coverage or may qualify for lower limits based on the location’s risk score. This is because the location has been indicated in a high risk area or the risk could not be located. Additionally, homeowners with two or more Inland Flood losses are not eligible for coverage.
Is There a Waiting Period for Coverage?
There is a waiting period for coverage. For a flood occurrence that begins before or within 15 days from when adding the endorsement to a policy, there is no coverage.
How Does an Inland Flood Coverage Endorsement Differ from a Water Backup Endorsement?
Water Backup and Inland Flood Coverage Endorsements protect property from two separate losses. A Water Backup Endorsement typically provides coverage for water or waterborne material that backs up through sewers and drains or overflows from a sump, sump pump, or related equipment. It excludes water backup or overflow caused by a flood.