Events Calendar
In This Section
Most Read Stories
Akron police investigate teen mob attack on family
Man found hanging at playground in Stow
Relatives doubt story of suicide
FBI asked to investigate attack on white family near Firestone Park
Robbery suspect's body left at Akron hospital
Man shot in back near Akron park
Blogs:
Pets:
Zeke, the basketball playing dog
The Heldenfiles:
Friday Notebook
Patrick McManamon:
For your Saturday entertainment …
Akron Zips:
Six new scholarship offers
Browns Bulletin:
Quick thought on Browns rookies
Tribe Matters:
Tribe roster on hold?
Cleveland Browns:
Stallworth test showed marijuana
Kent State Sports:
Men's Basketball Scheduling update
Cleveland Cavaliers:
Andy’s Signed According to ESPN
All Da King's Men:
Baby Got Barack !
Blog of Mass Destruction:
The Rogue Bush White House
Akron Law Café:
New Wiretapping Revelations from Inspector General
Varsity Letters:
Report: Ontko selects Wisconsin
See Jane Style:
Oh Baby!
Car Chase:
Where do We Go from Here?
Let's Talk Real Estate:
Closings….Not the Good Kind!
Ohio Travels with Betty:
Margy inquires-when is a Taste of Hudson?
Sound Check:
LeVert II live performance Saturday night — "Dedication" album due July 13,
HRLite House:
DDI One of Best Places to Work
Akron Gamer:
Video game sales drop in May
Published on Tuesday, Aug 21, 2007
The way water enters your home makes it easy to know whether your losses are covered by homeowner's insurance, or whether it's covered only if you have separate flood insurance or additional coverage on your policy.
Here are the possibilities:
If water swells in the street or yard and enters your home through a door or windows, that is covered only if you have separate flood insurance.
If water swells from your sump pump or drain into your basement, it's covered only if you have additional coverage on your homeowner's policy, usually called an endorsement for backup sewer and drain coverage. Higher-end policies might include this, but it's not the norm, so you'll have to check with your agent first.
If heavy rains and wind cause water (not floodwaters) to enter your house through windows or cause leaks in your roof, that is covered under your traditional homeowner's policy.
The biggest misconception is that water damage of any type because of a flood or heavy rain is covered.
That's wrong and it's not the best time to find that out when you're knee-deep in water.
''People think everything is covered,'' said Mitch Wilson, a spokesman for the Ohio Insurance Institute, a trade organization representing the property and casualty insurance industry. ''Damage caused by flood is always excluded from a homeowner's policy.''
Flood insurance is a separate policy that homeowners may purchase. You can get it through many private insurance agents, but it's administered through a federal government program. And you don't have to live in a flood plain to get flood insurance. As long as you live in a community that participates in the program, you can purchase a flood policy. Currently, 732 communities in the state participate and 68 don't. (To find out whether your community participates, go to http://www.fema.gov/cis/OH.pdf)
There's also a lot of information at the National Flood Insurance Program's site, http://www.floodsmart.gov, including a spot where you can put in your address to see your flood risk.
The average annual premium for Ohio flood insurance in 2006 was $605. The average cost to include a backup sewer and drain endorsement to a homeowner's policy is about $50 a year. Coverage varies among companies, so it's important to know what your company does and doesn't cover.
Flood-damaged cars are covered (after your deductible) under the ''other-than-collision'' portion of auto insurance, which also is called ''comprehensive.''
There's no difference between coverage if your car is in a parked spot that gets flooded, or if the car is damaged when you drive through high water (which isn't advisable anyway, for safety reasons), Wilson said.
Whenever there is a natural disaster, there will be some fly-by-night contractors who will try to benefit from your problems. Check a service company's record with consumer agencies, such as the local Better Business Bureau or the Ohio Attorney General's Office.
If damages are close to your deductible, consider paying those costs yourself instead of filing a claim. Insurance companies do keep track of claims and that can count against you in the future.
Betty Lin-Fisher can be reached at 330-996-3724 or blinfisher@ thebeaconjournal.com.
The way water enters your home makes it easy to know whether your losses are covered by homeowner's insurance, or whether it's covered only if you have separate flood insurance or additional coverage on your policy.
Get the full article here.
Comments
Click here to post your comments
