Flood Insurance Limitations

When the National Flood Insurance Program was crafted, it was intended to provide consumers a means by recovering enough to get back on their feet. This distinction was on purpose, to provide the means by which a community could be restored enough to be functional again. That is a very different level of recovery than being restored to a status quo as if nothing had happened at all. Many folks in Mesa, AZ and elsewhere frequently assume flood insurance will restore everything lost and damaged in a flood. This is incorrect. Flood insurance is offered by providers with financial backing by the federal government through NFIP. In doing so, the program puts limitations on the amount of coverage possible for a typical detached home, which in turn allows the program to provide coverage for more consumers in total. That then likely means a typical family home will see structural repair mostly covered in a basic sense, and some personal property replaced financially. However, homeowners affected by a covered flood will still have some losses at the end of the day.

Homeowners do have a choice in the levels of NFIP coverage that can apply on their home. That in turn will affect how much recovery is funded by NFIP versus being an out-of-pocket loss. The folks at the INW Insurance Group can go through the details with a Mesa, AZ homeowner and explain how the NFIP policies available actually would apply for a given home. Call INW Insurance Group today and make sure your home is properly protected. Don’t find out the hard way what kind of recovery you missed out on.