Insurance question

[Guest]

Flood insurance is separate from your regular homeowner insurance policies (at least here in FL). If flooding is caused by the hurricane, will homeowner's cover it? Thanks.
...Jennifer...

[golter]

NO, Im an insurance agent. Under no circumstance would "rising" water be covered under a homeowners policy.

[jes]

I do not think so.

[Guest]

So if your roof blows off and it floods the insurance would not cover the water damage. How could tell the difference?

Would it be flood or windstorm damage? Rain damage looks the same at 120mph right?

[AlexiBlue]

Oh no. You live in Florida and don't have flood insurance? I will keep my fingers crossed for you!

[Anonymous]

Reports are spreading many insurance companies will declare bankruptcy and not pay out on polices...sorry for the negative news...don't shoot the messenger

[Skywatch_NC]

Jen, are you, Chad and Dustin going to evacuate?

Eric

[golter]

the key is "rising" water if your roof is blown off and it rains inside your home it would be covered on home or windstorm policy. If water rises and enters your home, it would not be covered.

[Agua]

So if your roof blows off and it floods the insurance would not cover the water damage. How could tell the difference?

Would it be flood or windstorm damage? Rain damage looks the same at 120mph right?

They can't, but an adjuster will try to screw you with it. Guarantee you a jury will figure it out though.

[jes]

Golter will have the answer, but my thought is "I wouldn't consider water damage from a roof problem a flood."

[golter]

The bankruptcy issue is not an issue. Insurance companies are required to buy reinsurance to cover such catastorphies. They have plenty of money and insurance, dont worry.

[Agua]

my thought is "I wouldn't consider water damage from a roof problem a flood."

See?

[golter]

Its not their money, they could care less how much they spend. If it were their money then yes, in a storm of this size most of the adjusters are independent adjusters. Adjuster and insurance companies get a bad rap because some (stress on some) consumers want more than they are entitled too.

[wayoutfront]

If water damage is caused by wind creating an opening , such as ripping your roof off its covered..

If the damage is from Rising groud water its not.

If you don't know what your talking about , you shouldn't comment.

[golter]

If water damage is caused by wind creating an opening , such as ripping your roof off its covered..

If the damage is from Rising groud water its not.

If you don't know what your talking about , you shouldn't comment.

Im sorry who was that directed at??

[chakalakasp]

Reports are spreading many insurance companies will declare bankruptcy and not pay out on polices...sorry for the negative news...don't shoot the messenger

What reports are those? None of the large insurers are going to go under. It won't be a great year for them, but they have literally billions and billions socked away for just such an eventuality.

Please point to a news source; we don't want to spread panic on a rumor like that.

[Bammer89]

The answer, altough legally simple, is complicated by the multiple sources of water damage that results from storms. The simple distinction is that a homeowner's policy will typically cover water damage that results from wind driven rain or damage resulting from a breach in the home's integrity-roof damage, windows blown out, etc. Flood insurance covers the damage from "rising water". If the structure remains intact and suffers water damage, it would be easier for a homeowner to claim damage under the flood policy. Where the home has suffered some damage to its ability to keep water out, there is a claim that can be made under the homeowner's policy, although expect the carrier to try and reduce benefits to the extent they can demonstrate that the damage was true "flood" damage, as opposed to wind driven rain.

[golter]

"expect the carrier to try and reduce benefits to the extent they can demonstrate that the damage was true "flood" damage"

Or, expect claimant to inflate benefits by trying to demonstrate that the flood damage was in fact wind driven rain.

There are alot more crooked claimants than insurance companies, I can assure of that...

[ilmc172pilot]

if ya flood, and I hope you dont.....tell them your roof leaked

[GalvestonDuck]

I found that out when I renewed my renter's insurance. I argued that "storm surge" is not flood. The rain does not build up from the ground or back up in the storm drains. It's not even because of the rain anyway. It's due to wind, therefore, it should be covered as windstorm. It's a big giant dome of water from the ocean. It's high tide to the extreme. It's a big arse wide tidal wave. But it's not flood. Therefore, I argued, if a hurricane hits and I get water damage from the surge, I should be covered.

They disagreed. Blah!

Costs almost the same per year for flood insurance as it does for regular renter's insurance. It's just that renter's insurance covers a dozen other things - terrorism, fire, theft, windstorm, vandalism, tornado, earthquake, lightning, and so on....everything, but flood.