Flood Insurance
Flood Insurance Information
As some of the most damaging types of natural disasters, floods should be a top priority when considering your insurance needs. However, ensuring you have adequate coverage for flood-related losses can be a complicated and even confusing process. At Berger Briggs Insurance, we make it our goal to help homeowners in the Albuquerque area understand and address their coverage needs, including those involving floods.
How Does Coverage for Floods Work?
One of the first things homeowners should understand is that floods are often excluded from standard insurance policies. This means that even if you have sufficient policy limits for losses caused by floodwaters, such incidents will not be covered unless you’ve tailored your insurance appropriately. To ensure suitable flood coverage, you can explore endorsements for existing policies or may need to acquire a separate policy altogether.
What Is Covered by My Insurance?
Flood insurance is typically composed of several key forms of financial protection. Consider how the following may work in tandem to limit out-of-pocket losses:
- Structures coverage—This part of your policy can ensure financial assistance for rebuild, repair and restoration costs if your home’s roof, walls, foundations and attached fixtures are damaged by floodwaters.
- Contents coverage—Your flood insurance can also provide a payout to limit losses involving your personal possessions, such as furniture, clothing and electronics.
- Cleanup coverage—If you need to have debris or contaminated materials hauled away from your home, your policy may help pay the fees.
How Are My Rates Determined?
Insurance carriers may need to weigh several factors when determining your premiums. This could often include consideration of the following criteria:
- Structural details (e.g., number of floors and building materials used)
We’re Here to Help
Contact Berger Briggs Insurance today to learn more about coverage options for floods or to compare personalized quotes.
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