If you are not in a flood zone, do you have flood insurance?

We will be redoing the basement (currently unfinished) and I have been thinking about adding this to our policy. We are not in a flood zone, but I think of pipes breaking and flooding the basement. Is it an huge increase to add?

If you are not in a flood zone, do you have flood insurance?

We have it, it's inexpensive but remember to ask about CONTENT insurance too - they are not the same. Also ask what is considered a flood and what is considered an act of God, natural disaster and what the differences are.

If you are not in a flood zone, do you have flood insurance?

http://www.floodsmart.gov/floodsmart/pages/choose_your_policy/localAgentLocatorZip.action?zipCode=10001&x=25&y=10

On the right hand side you can get a government estimate

Re: If you are not in a flood zone, do you have flood insurance?

We're not in a flood zone but there are canals on the next block over, we have a basement and we were affected by Sandy.

The water came almost to the ceiling.

We had to take out flood insurance because we got money from FEMA.

I want to say our policy is $500 a year.

It's important to know about deductible, content and natural disasters.

We are insured through State Farm, which also has covered our home, cars, life and some of DS business-related insurances before the flood.

I also am pretty sure that since a basement is not considered "livable space", that they only cover the basics.

Personally, I would never re-do our basement because of what happened with Sandy, and I would not take the chance if I was anywhere close to the water where it could happen again.

We keep the bare minimum down there.

Message edited 9/16/2013 5:28:58 AM.

If you are not in a flood zone, do you have flood insurance?

I don't and am not in a flood zone

But like others said.. Not sure if a home flood issue (not an act of nature) would be covered for a basement or anything. Interesting question though .. I would definitely call some carriers and ask.

I have a finished basement. I've heard French drains are great and was quoted 6k to install one. Never did it. I'm rolling the dice. But may be worth a look... That way, any water that does get in for whatever reason, is taken right out.

Re: If you are not in a flood zone, do you have flood insurance?

If you are not in a flood zone, do you have flood insurance?

If your pipes break and flood your basement a flood policy would not cover that. Your homeowners would cover all the contents that are ruined/damaged.

Re: If you are not in a flood zone, do you have flood insurance?

if you arent in a flood zone you would get the preferred risk zone which offers the max coverage flood allows, 250,000 dwelling and 100,000 contents.

that cost is between 400-$600.

It is up to you to choose the insurance.
Depending on proximity to water. I know ppl who were not considered a flood zone and were still flooded. (of course they were within a mile of water).

Re: If you are not in a flood zone, do you have flood insurance?

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Message edited 1/11/2014 10:41:05 PM.

Re: If you are not in a flood zone, do you have flood insurance?

We are not flood zone bc of our elevation but are very close to the water. We have flood insurance. We luckily did not have any damage from sandy. I am pretty sure flood insurance will not cover most things in a finished basement, only things like hot water heater and boiler not carpet or furnishings or items. You should check the fine print.

Re: If you are not in a flood zone, do you have flood insurance?

If you are not in a flood zone, do you have flood insurance?

Also, just so you know contents insurance won't cover anything in your basement.