Usually because your home or property is located in a Flood Prone Area.
If you live in a flood zone then you must have flood insurance. It is not covered by normal homeowners insurance. It is basically a federal program.
Flood insurance can be purchased from the government from the national flood insurance program (NFIP). If your community participates you can purchase flood insurance from your insurance agencie through the national flood insurance program.
No. Several insurance companies offer flood insurance apart from the National Flood Insurance Program.
If your property is in a flood plain or your mortgagor requires flood insurance, no, you cannot cancel flood insurance.
Flood insurance is generally not included in homeowners insurance policies, so you may want to consider flood insurance. Flood insurance is required in some flood zones. Contact your local insurance agent to find out if your vacation home is in a flood zone that requires flood insurance.
"Flood Insurance" will cover damage resulting from a Flood. Homeowners Insurance will not.
Flood insurance is extremely valuable and should be added to your list of protections. Available through the government, it can be added to most homeowner's policies. If you live in a flood plain, this insurance is necessary and will probably be required by your lender. It is important to note that flood insurance does not cover floods that originate from inside the home. A burst pipe will not be covered under flood insurance, for example. in order for the damage to be covered, there must be widespread flooding conditions in your area. However, if you live in an area that is prone to high levels of rain, flood insurance can give you invaluable peace of mind.
No, Flood insurance will not cover your Automobile. Your Comprehensive Auto Insurance will cover flood damage to your Car.
Homeowner's insurance policies do not cover flood damage. You will need a Flood Insurance policy and to get one you will have to apply and wait 30 days.
No. Flood insurance is intended to cover stated damage that results from naturally occurring floods, such as by hurricanes. At that, flood insurance is a separate, stand-alone policy. It is often available through a Federal Flood Insurance program, and may be obtainable through local insurance agents. Flood insurance has specific requirements for the cause of loss and definitions of a "flood", such as that flooding must also occur on neighboring properties. The type of damage that you mention may come within the scope of a homeowners policy, subject to its terms and conditions.
National Flood Insurance Program.
No. Flood insurance is purchased by the homeowner to provide coverage for losses elated to flooding. The president has nothing to do with your flood insurance.