Did you know most property insurance doesn’t cover flooding? The federal government runs the National Flood Insurance Program (NFIP), which issues flood insurance policies. Even if you have homeowners, renters, condo, landlord, mobile home or business insurance, you may need to purchase a separate flood insurance policy to be protected from flood damage.
Most flood insurance policies and basic property insurance policies do not cover water backup damage. This type of damage is typically caused by water that overflows from a sump pump or backs up through sewers or drains. Understanding your flood risk and what flood insurance typically protects can help you choose coverage that meets your needs.