Flood | Castle Insurance

6 years ago · by Kris Castle · Comments Off

Does my homeowner’s policy cover any and all things?

DECEMBER 3, 2018

Is your home is one of your most valuable assets? If you’re like most Americans, it sure is.

While your homeowner’s policy covers many different losses, what are some of the damages that are NOT covered?

Flooding. This can be a big one! Most insurance companies will not cover ground water coming into your home. This means water standing in your yard due to lots of rain or a blocked storm drain, etc.
Lots of valuable jewelry. Your homeowner’s policy will cover up to a certain dollar amount for your jewelry. You can usually upgrade the coverage to a slightly higher amount. However, if you have a Rolex collection or a very large diamond ring, those would be items you want to schedule separately. You should list each item, the replacement value and a brief description. You will be charged for each piece and you can adjust the deductible down to “zero” if you don’t want to pay out of pocket to replace the lost item.
Maintenance. As a homeowner, you are responsible to replace an old roof, cut down dead trees, replace siding, and other items that wear out with a home. Your insurance policy is designed to assist you in an emergency situation. Some good examples of what is covered would be fire, wind damage, burst water pipe, etc.

As with any insurance, please check your personal policy and your agent for specific coverage questions.

7 years ago · by Steven Castle · Comments Off

With the recent floods in Texas and Florida, we’ve been getting inquires about flood insurance. Here’s a general guide on how to choose:

Home Owner Insurance:

Covers internally generated water damage: pipe bursts, water leaks, washer leaks
Deductible applies from homeowner policy
Extra protection may be added to cover basements, sumps etc.
Many policies cover water damage from outside sources if damage occurred from something other than water (such as a falling tree on your roof).
Statistic: Nearly 80% of homes impacted in Hurricane Harvey (Houston 2017) did not have flood insurance.

Flood Insurance:

Specifically covers damage caused from external water sources: such as flooded areas caused by natural conditions (rain), runoff water, water erosion.
May need to add coverage for man-made external source, such as a levee breach.
Usually does not cover damage from landslides
Should be added if your home/property is on a flood plain or flood risk zone.
Consider add if your home is NEAR a flood plain or flood risk zone. Often flooded areas extend past the flood boundaries in “50 year” storm scenarios.
If your home is damaged from a flood and the area is marked for emergency funds, FEMA caps out at $33,300
Statistic: nearly 20 percent of national flood insurance claims come from low- to moderate-risk flood zones.

Check here to see FEMA Flood Zone Areas , find your home, then select “View Web Map” to see the current flood zones.