Just an inch of water can cause roughly $25,000 of damage to a property, according to the Federal Emergency Management Agency (FEMA).
Unfortunately, there’s a common misconception many consumers don’t realize until it’s too late: homeowners insurance typically does not cover flood damage.
For that coverage, you need a separate flood insurance policy.
Flood insurance can be purchased through the National Flood Insurance Program or a private flood insurer.
The Connecticut Insurance Department says damage like we’re seeing from the weekend is a good reminder to consumers of the value of flood insurance.
“Recent intense rainfall events in the state have highlighted the need for increased flood awareness and preparedness. Understanding your flood risk is essential for protecting your home and assets. It’s important to take a proactive approach to flooding,” said Consumers Affairs Director Gerard O’Sullivan.
O’Sullivan added, “Most homeowners insurance policies don’t cover flood damage, so opting for flood insurance through the National Flood Insurance Program (NFIP)is the …