If you’re considering adding flood insurance to your primary policy, you have several options. These can be personal policies or policies for your commercial property.
Homeowner Insurance
Homeowner insurance is a standard primary policy for clients who want to purchase flood insurance. These policies cover damage from some natural disasters but not water-related ones. This is where flood insurance becomes essential to protect homes, buildings, and other structures on the property. This is also crucial for any properties that you rent out to protect the structure you own on the property.
Commercial Insurance
You want to protect your business property from water damage as a business owner. The standard commercial property damage policy covers some natural disasters, such as wind damage and natural fires. However, flood insurance only covers water damage and includes anything from floods to other storm-related damage. If you have multiple commercial properties, you will need to attach a policy to each one.
Renter Insurance
As a tenant, you may not be responsible for the damage done to a home you’re renting. However, at the time of the damage, your personal property in or on the property will need to be replaced. To have flood insurance for your personal property, you’ll need to have a renter insurance policy in place first to make a claim for any damages you incur.
Auto Insurance
To get flood insurance protection for your vehicle, you’ll need to have a primary auto insurance policy with full coverage before you can get flood insurance. Remember that your auto insurance will cover some natural disaster damages and situations out of your control, but nothing related to flooding or excess water damage.
If you live in the New York area and would like to add flood insurance to one of your policies, contact AW Burchell Agency Inc. today for more information.
