Does Home Insurance Cover Flood Damage?

Posted on: Aug 27, 2024 | 3 mins | Written by: HDFC ERGO Team

Does Home Insurance Cover Flood Damage?

When it comes to flood damage, you can claim on your home insurance policy. This is one of the biggest advantages of choosing a good property insurance plan from a reputed insurance provider. Let’s find out more in the article below.

The role of home insurance in flood damage

As per the clauses of most house insurance plans, the policyholder can get up to 100% of the sum insured if the property gets damaged due to a flood. This is a very handy assurance as several homeowners face this challenge yearly during the rainy season.

Who should get a flood insurance cover?

Listed below are some types of homes that must be covered under a property insurance plan with a flood damage cover:

1. Homes in flood-prone areas

Certain areas are prone to floods and excessive waterlogging. Often, homes in such areas sustain a lot of rain and flood damage. From severe damage to the interiors of the house to even structural damages, your home can be beaten down by a harsh flood. Protect it with a good home owners insurance policy and keep it safe.

2. Expensive property owners

Some homes are very expensive and are even categorised as luxury homes. These buildings have many costly exterior and interior elements. If there is a flood, such a house becomes highly vulnerable. The losses can run high, and the homeowner has to pay a hefty amount for the repairs. At such a time, a home insurance plan can come in very handy as it will help pay for the damages and keep the owner financially protected.

3. Commercial building owners

Commercial building owners definitely require a home insurance plan with flood damage coverage. A commercial property remains uninhabited for many hours in the day after the work hours are over. If there is any flooding around, there can be a lot of damage. To ensure you can fix the damages, get a building insurance policy.

4. Rental property owners

A renter's insurance plan can help shield rented properties from flood damage. This is another very important way in which property owners can keep their properties secure.

Conclusion

As you can clearly see from the points mentioned above, flood insurance comes in very handy at difficult times like a harsh monsoon. Hence, do your research and get a good policy that allows you to have the required mental peace, knowing your home is safe and secure.

Disclaimer The above information is for illustrative purposes only. For more details, please refer to policy wordings and prospectus before concluding the sales.

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