Flood Insurance in Revere, MA
Most homeowners insurance policies don’t cover flood damage; however, it can be essential, especially if your home is in an area with a risk of flooding. Even a few inches of water can have costly consequences. Without flood insurance, you may have to pay for expensive property damage out of pocket.
Is Flood Insurance Required in Massachusetts?
Flood insurance requirements can vary depending on your situation and location in Massachusetts. Generally, flood insurance is not required by the state of Massachusetts, but it may be mandated by your mortgage lender if you live in a high-risk flood zone as designated by the Federal Emergency Management Agency (FEMA).
What Does Flood Insurance Cover?
Flood insurance typically covers two main components: building property coverage and personal property coverage.
- Building property coverage may help cover the physical structure of your property, including the foundation, walls, electrical and plumbing systems, appliances and fixtures. It may also cover built-in items such as carpeting, cabinets and bookcases.
- Personal property coverage may help protect your belongings and contents inside the insured property, such as furniture, electronics, clothing, appliances and valuables. However, certain high-value items, such as artwork, jewelry and collectibles, may have coverage limits. Additional coverage or separate policies may be required for complete protection.
It’s worth mentioning that flood insurance specifically covers damage caused by flooding, defined as a general and temporary condition of partial or complete inundation of normally dry land by water. It does not cover damage caused by other types of water-related events, such as sewer backups or water leaks, unless a flood directly causes them. Each flood insurance policy may have specific coverage limits, deductibles and exclusions, so reviewing the policy carefully and understanding its terms and conditions is essential.
Contact R.M. Cataldo Insurance Agency today to learn more about flood insurance and take steps to protect your home. We’ve been in business for over 20 years and can help you get the coverage you need.