April showers can bring may flowers, they can also bring damage that may not be covered by home insurance. In other words, water damage from a large rain may leave you with a coverage gap on your home insurance. Two major items that a large rain may bring are floods and surface water. Similarly both of these are not covered under a home insurance policy. Flooding is pretty self explanatory. This would be covered by a flood policy. A flood policy can be purchased through a private flood insurance company or a flood insurance company associated with FEMA. In addition to what most of us think of when we think of a flood, surface water is also considered a flood for home insurance. Flood insurance pricing has become better during the last couple of years as private companies become available.
What should I do about potential damage?
Currently there is not much you can do except look for flood insurance. However, many home insurance companies are looking at this coverage gap. Endorsements are being priced and discussed to close this gap. We are hoping that in 2022 we will have solutions for homeowners in non-flood areas. Home insurance clients in flood prone areas will still most likely need to get traditional flood insurance.
How do I know what my home insurance risk is?
One thing you can always do is reach out to us at 412-344-2800 or our client center. You can also find us on Facebook, Twitter, Instagram, and YouTube. We look forward to hearing from you. In conclusion, insurance gaps can be an issue for the consumer. Let us help you find those gaps and correct them. Don’t let an April Showers and coverage gap on your home insurance ruin your May. If you like what we are doing drop us a review.