Hurricane Harvey Archives - Wise Insurance Group

Home Buyers and Flood Insurance

Brandi Wright, a realtor in Arlington, Texas sent me a text message earlier today asking a really interesting question, “Is there a way to find out if a home has ever had a flood claim?” Adding to the “Twilight Zone” coincidence factor, was an article appearing on Insurance Journal in my email this morning entitled, “States with the Best, Worst Home Flood Damage Disclosure Laws.” Let’s look at a couple of interesting notes related to the home buying experience and flood insurance.

Excess Flood Insurance

Over the past two weeks, I’ve written about flood insurance. I wanted to wrap up this theme and address one of the limitations of a standard, government backed flood policy and that is the policy’s limits. Limits are present on all forms of insurance including home, car, jewelry, commercial, and even flood. When I refer to a policy’s limits, I’m referring to the maximum amount of coverage available on the policy for a specific item. The question we’ll answer in this post is how to obtain coverage beyond a standard flood insurance policy’s limits.

Flooding, Flood Insurance, and 10 Little Known Facts

Many people tend to discount a flood can happen to them since they aren’t in a 50 or 100-year flood plain. But as many Houstonians can attest in the aftermath of Hurricane Harvey, that may not count for much!

Here are 10 little known facts about flooding & flood insurance worth knowing!

Flood Insurance Overview

Last week I reprised a post outlining reviewing your insurance in preparation for hurricane season (it started last Friday), and I wanted to follow that up with my annual overview on flood insurance. Flooding can happen at any time, whether it’s caused by torrential rains, a sub-tropical or tropical storm, or a hurricane. Let’s plunge into the two types of flood insurance coverage, as well as what happens if you need more than the standard policy provides.

Commercial Flood Insurance

There are two types of commercial flood insurance, standard flood insurance, which is a FEMA administered policy and excess flood insurance. Both serve a purpose for small, medium, and large businesses and offer coverage to help get the business back up and running.

Returning Home After the Harvey Leaves

The sun peeked out Wednesday afternoon for a few minutes over west Houston reminding everyone briefly that it still is there. This was followed by heavy rains stretching from Houston to almost New Orleans as Tropical Storm Harvey moved back onshore and headed in a northeasterly direction. The end of the rain may be in sight but it will take weeks or months before all the floodwaters in Houston and elsewhere recede and dry ground reappears.

Homeowners whose homes have been flooded, will be anxious to review the damage as quickly as possible. Here are some guidelines from FEMA I believe is important to share.

The Two Types of Insurance Claims from Hurricane Harvey

There are two types of insurance claims caused by Hurricane Harvey, hurricane or wind claims and flood claims. Let’s examine both in detail and what policies cover each type.

Tag: Hurricane Harvey

Home Buyers and Flood Insurance

Excess Flood Insurance

Flooding, Flood Insurance, and 10 Little Known Facts

Flood Insurance Overview

Commercial Flood Insurance

Returning Home After the Harvey Leaves

The Two Types of Insurance Claims from Hurricane Harvey

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