Austin Flood Insurance

Did you know that you are more likely to incur damage from flood than from fire? Most commercial property policies and homeowners policies exclude flood coverage. Businesses must purchase a separate policy to protect from flood damage and loss—however, Austin flood insurance is very affordable.

Many of the companies we represent participate in the National Flood Insurance Program. Where offered, you have the added security of knowing that National Flood Insurance Program flood insurance is backed by the federal government.

Understanding Flood Insurance

Generally, a flood insurance policy provides coverage for physical damage to your home or personal property directly caused by a flood. There are a few important things to consider when you purchase flood insurance:

• Building property flood insurance and personal property flood insurance are not the same thing. Each type of flood insurance must be purchased separately. Generally, the National Flood Insurance Program encourages people to purchase both types of flood insurance so that both your home and the contents within it are protected.
• Flood insurance is not a valued policy – meaning that flood insurance pays the replacement cost of actual damages up to the policy limit. If the limit of liability is higher than the cost of the damage, you do not receive the additional funds.
• Flood insurance is not a guaranteed replacement cost policy. Guaranteed replacement cost policies pay the cost to rebuild after a total loss, regardless of the limit of liability. Flood insurance will not pay more than the policy limit.