Is flood damage covered by my homeowners insurance for our Orange County property?

10/3/2022 (Permalink)

When you’re dealing with flood damage in Newport Beach, the last thing you want to do is worry about the cost. You want to be able to focus on the cleanup, getting your home back to normal. Isn’t homeowner’s insurance something you can turn to?

 While you certainly pay for your homeowner’s insurance to cover damages and financial issues, not every form of cover will help with flood damage restoration. These are the factors you need to consider first.

 Check Your Fine Print

Because floods are becoming a major issue in various parts of the country, many home insurance policies are now cutting out any offer or recovering after flooding. This can depend on the type of flooding, of course. If it’s damage from someone else’s apartment that flows into yours, you can often get the financial help (usually through the other person) but if it’s flood damage in Newport Beach from Mother Nature, it’s going to be harder to get the coverage.

 Make sure you check your fine print before you get your coverage. Speak with your insurance agent for clarification on policy language.  This will allow you to talk about adding some flood damage coverage just in case.

 You can also usually take out a secondary policy that specifically covers some flood damage repair. This is something to consider, especially if you live in a high flood risk part of town.

 Dwelling vs. Personal Property Coverage

You’ll always want to know the type of coverage you have. You can get dwelling insurance, which is great for the structure of your home in case of flood damage in Newport Beach. Should a pipe suddenly burst and your wall or flooring needs repairing, you need to make sure you have dwelling coverage for this.

 What about your property? Burst pipes can damage your laptop or computer through electrics or may destroy your clothing or stored Christmas decorations. Your dwelling insurance isn’t going to help in this case. You need to have personal property coverage.

 Keep in mind that you’ll have a deductible on both of these types of coverage. Make sure what you’re claiming for is more than your deductible. That’s the amount you will pay first.

 Limits to the Amount of Repair for Flood Damage in Newport Beach

Insurance companies don’t have unlimited funds. Many companies will put a cap on the amount that you can claim, and this amount usually helps you set your insurance quote. The more you want to be covered, the more you’d pay per month.

Make sure you look at any of the limits you have on your insurance policy. You don’t want to approve a quote for thousands more than your insurance provider will cover. You have to pay the extra out of pocket.

 Your insurance company will also likely have a limit on the flood damage repair companies. They’ll have an approved list and unless you can prove that the companies won’t work for you, the insurance provider won’t payout if you don’t use someone on this list.

 Your homeowner’s insurance may cover flood damage in Newport Beach, but don’t assume. Always check policy before you sign. If you’re not sure now, check with your policy and take steps to get the coverage just in case.  Covered or not the team at SERVPRO Newport Beach can care for your needs.