Flood insurance can help Jacksonville, FL residents rebuild after a disaster. However, all policies are not the same, and you might wind up having to pay for things like temporary relocation with your bank account. There are a few things that determine whether you can receive reimbursement for relocation expenses.
Standard NFIP Policies
Typical government insurance offered through the National Flood Insurance Program usually does not offer coverage for additional expenses, including temporary relocation. These policies often cover repairing the structure of the building so it is habitable again, but nothing more.
If the government declares a national emergency, temporary shelters may be established. This can include housing people in school gymnasiums or putting up trailers that people can live in.
Private Insurance
Private flood insurance usually offers more comprehensive coverage. Policies usually include coverage for structural damage to the home. Many also include coverage for temporary shelter and other expenses, such as meals that you must purchase because you can’t cook at home. Whether coverage is offered and coverage limits vary by company, so it’s important to ask an agent at 925 Partners what your policy will cover before you purchase one.
Home Insurance
It’s important not to rely on your standard homeowner’s insurance policy. Many policies include coverage for additional living expenses, but they also specifically exclude flooding as a covered peril. That means you may have ALE coverage for hurricane damage, but not flood damage.
Always take the time to speak with an agent at 925 Partners to learn about your coverage, any exclusions, and to purchase additional coverage if necessary. Contact us today to discuss the details. We’re currently serving the Jacksonville, FL area.
