neptune flood insurance financial rating

It covers the outside structure of your home, rental, or building, as well as the contents within, such as furniture, electronics, appliances, clothing, and more, if they are damaged or destroyed.įlood insurance is designed to cover damage if a flood is externally caused, such as flooding due to hurricanes, heavy or torrential rain, storm surges, blocked storm drainage systems, snowstorms, levee dam failures, tropical storms, and overflowing rivers. If you need to decide about purchasing flood insurance or don't want to be caught off guard when a hurricane hits and causes flood damage to your home, this article will help you understand everything you need about flood insurance.įlood insurance is a type of property insurance that covers damages due to floods and flooding. If you are unaware of getting flood insurance, you’re not alone, and it may not be your fault.įor example, if you are buying a house for the first time, real estate agents and mortgage lenders often fail to tell you about flood insurance requirements until the house is already in escrow.Īnother example is that a home buyer or renter may believe that the area surrounding their homes isn’t prone to flooding.īut just because there appears to be no immediate danger of flooding, these homes may be already rated as high-risk zones by the Federal Emergency Management Agency ( FEMA). So, if you don’t have flood insurance and a hurricane rips the roof off your home, or if a flood causes a deluge in your rental’s basement, you may have to pay out-of-pocket to fix these damages that can cost you hundreds of thousands of dollars.īut if you purchase flood insurance, which is relatively inexpensive in the scheme of things, your insurance will pay for all the costs beyond your deductible. In addition to homeowners insurance, you need to purchase separate flood insurance coverage.

Standard homeowners, condo owners, or renters insurance does not cover damage caused by flooding. Yet many renters and homeowners believe that their renters or home insurance policies cover damages stemming from these hazardous conditions. If you live in an area with hurricane season, you are more susceptible to floods and other catastrophic disasters like heavy wind, rain, and an overflow of water. In the U.S., floods are the most common natural disaster.

Neptune flood insurance financial rating