Where a basic home insurance policy lacks coverage, a flood insurance policy will cover both the building itself and the contents within it, but it won't cover the land on which the property is constructed.
Building coverage will protect you for the following:
- The building itself and its foundation
- The building's electrical and plumbing system
- Any central air conditioning systems, furnaces, and water heaters
- Any refrigerators, stoves, or appliances built into the property
- Any carpeting and flooring that has been permanently installed
Contents coverage will include the following items:
- Any clothing, furniture, or electronic equipment
- Any curtains that are used on the property
- Any portable or window-based air conditioning units
- Any other portable appliances (such as microwaves and dishwashers)
- Any other carpeting that isn't included in the policy's building coverage
- Any washers and dryers being used on the property
These items can be reimbursed in two different ways:
- Replacement Cost Value (RCV) - The cost to replace the damaged property
- Actual Cash Value (ACV) - The actual cost of the items that have been damaged
If you live in Louisiana, be sure to speak to an agent at Workman Insurance Group because we can give you more details about what type of coverage you may need. We would be glad to answer any questions you may have about our policies, and we can come up with a plan that will meet your needs and work within your budget.
Workman Insurance Groups has served Louisiana residents for a long time, and we can help you with all your flood insurance needs. Be sure to get in touch with us so we can help you today!