Asked 5/6/2010
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If my house is over 100 years old and has never had a flood, do I have to have flood insurance? I thought I heard somewhere that if my house is over 100 years old and has never had a flood, that if it does flood my homeowners insurance is supposed to cover any flood damage. If anyone knows anything about it and has and official source I would greatly appreciate it! Thanks! |
Answer 1/1 - Submitted 5/6/2010
Not true. Homeowners insurance flat out doesn't cover flood. It's a standard exclusion, on EVERY policy. For an "official source" refer to your policy. Ask your agent. Go to your state insurance department website and see if they have a page on flood. Visit www.nfip.com
If you're NOT in a 100 year flood plain (which, btw, does NOT mean that your house will have a flood once every 100 years), then your mortage company will not require you to buy flood insurance. If you have no mortgage, you aren't required to buy flood insurance - or homeowners, either.
If you WANT coverage for flood - including water runoff from heavy rains, uphill from you, not just lakes, rivers, oceans rising - you have to buy a seperate flood policy.
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