Flooding is a major risk for many homeowners. This is particularly true in areas near the coast, where storm surges and major weather events have increasingly unpredictable consequences. As the impacts of climate change continue to grow, the urgency of protecting your home grows even more paramount.
However, your home may be underinsured when it comes to flooding. For this reason, it is important to think about excess flood insurance.
What Is Excess Flood Insurance?
Excess flood insurance will kick in when you’ve existed the limits of your primary flood insurance policy, and/or National Flood Insurance Program coverage. These basic policies may have limits that do not take into account the full value of your property, belongings, and other features around your home. Supplemental coverage will focus on buildings and property contents, as well as replacement costs.
Your home is a special place — and particularly if it is in a flood-prone area, you want to be sure it’s well-protected. After all, when navigating the aftermath of a major flood or other weather event, few things will be more trying than seeking to determine whether your insurance will cover you.
If you are at risk of serious flooding, be sure to speak to your insurer about excess flood insurance.
