Flood Insurance

Flooding can be an emotionally and financially devasting event. Today, more people file water damage claims than almost any other type of insurance claim. Nearly one in 50 homeowners file a claim to recover water damage losses annually. The number of homes and businesses damaged by water has escalated in recent years due to an increase in severe storms.

Even though floods are the most common natural disasters in the United States, most business insurance policies do not automatically cover flood damage. Veterinarians need additional flood insurance coverage to protect their businesses.

The team at Vetinsure, the leading supplier of business and personal insurance for the veterinary industry, has developed an overview of flood insurance to help you decide on coverage options.

Do You Need Flood Insurance?

Many mortgage companies require that property owners in high-risk areas buy flood insurance. If you don’t live in a high-risk flood zone, you might think you don’t need flood insurance. However, according to the Federal Emergency Management Agency (FEMA), more than 20% of flooding claims are from people who own property in areas with low flood risk.

Flood insurance is available to any home or business owner in areas that participate in the National Flood Insurance Program (NFIP). Veterinarians can purchase insurance sponsored by the federal government through Vetinsure. NFIP policies help cover expenses incurred when a flood damages your property and belongings.

Types of Flood Insurance

Flood insurance covers damage caused by external flooding, like a storm or overflowing lakes, oceans, rivers, and drains. The NFIP offers two types of flood insurance—building property and personal contents coverage—that you can purchase separately or together.

Building Property Coverage

Building coverage protects the entire physical structure, plumbing, electrical, HVAC systems, detached garages, and attached features inside the house, including cabinets. Building property policies have a $250,000 maximum coverage limit.

Personal Contents Coverage

Personal contents policies cover damage to furniture, appliances, clothing, electronics, artwork, and other belongings. Personal contents insurance covers up to $100,000 in losses.

What’s Not Covered?

Flood insurance doesn't offer blanket coverage for everything damaged in a disaster. Policies don't cover:

  • Business Income coverage (unless you purchase excess flood coverage as well)
  • Cars and other vehicles
  • Preventable water and mold damage

How Do You Purchase Flood Insurance?

Flood insurance is available from an insurance agent like Vetinsure. After you find an insurance policy, there often is a 30-day waiting period before it goes into effect unless you are in a flood zone and your mortgage company is making flood coverage mandatory. You can find out if you live in a flood zone using FEMA's flood map service.

If you need flood insurance, we'll help you find the right policy, and we'll be your trusted partner if you ever need to file a flood claim. For a flood insurance quote, call us at 800-272-1249 or contact us online.