Articles Posted in Flood Damages

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Has your adjuster denied your claim because he said you didn’t have proper coverage? Many insurance companies deny claims on the grounds that the damage incurred is excluded under your policy. This happens often with hurricanes when an adjuster claims damage was caused by flooding, when in all actuality it was caused by wind damage and heavy rainfall through that damage.

Wind damage is generally covered under a homeowner’s policy and can cover damage such as fire, lightning, or hail. A homeowner’s policy can also cover damage including a fallen tree that damages a roof or windows of a home.

Water Damage is also generally covered under a homeowner’s policy, but with very specific exceptions. Water damage that would be covered in a homeowner’s policy would be damage such as a busted pipe, or a leaking roof. It generally does not cover damage from water coming into the home from the ground since this would be considered flooding. A separate flood policy must be purchased to cover this type of damage. It would include water that seeps into the home from a heavy rainfall or as the result of a lake, ocean or river overflowing onto the property.

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Over the last six months, South Louisiana residents and businesses have experienced unprecedented flooding events that exposed many property owners to the difficult process of filing a flood related insurance claim. While some of us learned these painful lessons in the aftermath of Hurricane Katrina and other storms, residents and businesses in many affected areas are new to the process and face dangerous pitfalls if their claims are not handled properly. This article is intended to give property owners a brief overview of what flood insurance is, what it isn’t, and some advice about dealing with your insurance company. For additional information about other forms of financial assistance, safety tips during clean up, and the first steps in filing a claim, please see here.

First, it is important to know how flood insurance is different from your homeowner’s or commercial building insurance. If your property is under mortgage, you are required to carry property insurance to protect your property against the risk of fire, wind damage, and certain other losses. If you are also in a designated flood zone, you are additionally required to carry separate flood coverage, because, as you probably know by now, flood damage is not covered by homeowner’s policies. Flood insurance policies may be provided from the National Flood Insurance Program (NFIP) directly or through private insurers, but, in either case, the federal government underwrites the policies and pays for covered losses. Regardless of the value of the property insured, these policies are capped at $250,000 for residential building coverage, $100,000 for contents, and $500,000 for commercial buildings (i.e., this is the most that the insurance will pay for a particular event).

Before your flood insurer will pay a claim, they will require a sworn proof of loss statement—essentially, a form itemizing all of your damages that you swear is true. The proof of loss statement must be provided within 60 days of the loss. The importance of this document cannot be overstated. If you do not file it timely, or if you fail to list all your damages, your right to recover for your losses could be gone forever.

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