Owning real estate is a trophy—an accomplishment that says, “I made it.” Home is a place of comfort, shelter and belonging. We’re celebrating National Real Estate Day because everybody deserves to feel at home. When our homes are damaged, it can put incredible stress on us. That’s where insurance agents come in; you can help your clients find peace of mind that, no matter what happens, their home is still safe.
To that end, one part of flood insurance that homeowners often have questions about is coverage for their basements. In support of agents everywhere, here is a short and easy list of what’s covered in a basement by NFIP’s flood insurance policies.
If your clients have standard flood insurance policies, the following items are covered if they are installed and connected to power:
- Central air conditioners;
- Electrical switches and light outlets;
- Furnaces and hot water heaters; and
- Sump pumps.
If your clients have a contents-only insurance policy, the following covered items must be connected to power to be covered:
- Clothing washers and dryers;
- Window air conditioners; and
- Freezers and their contents.
Regardless of what coverage your clients have, there are several items that you clients will likely ask about that are explicitly not covered in a basement including:
- Finished basements and home improvements;
- Couches;
- Televisions; and
- Photographs or other keepsakes.
The best time to talk to your clients about their flood insurance coverage is before they close on their new home. Celebrate your clients’ new real estate by helping them protect their investment with flood insurance.
To stay up to date on all things flood insurance, follow the NFIP on LinkedIn.