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Flood Insurance
If you seek flood insurance, speaking with an American Quality Assurance Group insurance agent is an entirely different experience. We know how frustrating it can be, so our company takes pride in offering Miami clients simple and reliable flood coverage for their homes.
We want you and your family to feel at ease. Having flood insurance makes it much easier to take control of your property and be ready for any water event. Trust us to find and provide the policy that's right for you.
What is flood insurance?
Like homeowners insurance, flood insurance protects your property, including buildings and belongings. A flood insurance policy limits the covered risks to flooding, which can include overland flooding but can also include mudslides. Your homeowners' insurance policy may cover other types of water damage.
What does flood insurance cover?
Painted with a broad brush, flood insurance covers damage to your home and personal belongings due to flood waters, surges, or mudslides. However, it's also helpful to understand how a flood policy provides protection. We can start with an overview of how flood insurance through the NFIP works. Still, it's also essential to review the coverage provided by private insurers.
Flood coverage for buildings
Like your home insurance policy, your flood insurance policy provides coverage for your home, meaning the building. Coverage for your home is provided as replacement value coverage which means your policy will pay to rebuild without a depreciation deduction. However, there are some limits to consider.
NFIP policies only cover losses of up to $250,000 for flood damage to your dwelling and attached items, such as furnaces, cabinets, and installed flooring. Private market flood insurance policies can cover larger home values.