Flood Insurance Questions and Answers
Q:
When is a standard flood policy just not enough?
A: If
replacement costs of your home is over $250,000 a standard flood
policy would not be enough.
So
if replacement cost of your home is $450,000, $200,000 of this
would not be covered by a standard flood policy. Therefore to
fully cover the replacement cost of your home you would need $200,000
in Excess Flood Insurance to cover the replacement cost of your
home.
Excess
Flood Insurance may be purchased to extend the replacement value
of a home to a maximum benefit of $750,000 or a business to $1,000,000.
Excess
Flood Insurance can increase your standard single-family coverage
by up to an additional $500,000 - covering up to $750,000 total.
Have a business? Extend your structure coverage from $500,000
up to $1 million.
Contents
coverage may be extended to a maximum ot $200,000 for a residence
and up to $600,000 for a business. Ask
us for details.
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