By: Brian J. Finnerty (CIC), Area Sr. Vice President, Arthur J. Gallagher Risk Management Services.
Question # 1:
Is Flood Covered?
Typically, Flood is an excluded coverage under all property policies. Unless you have specifically endorsed your policy with Flood coverage or purchased a separate stand-alone flood policy you most likely do not have this peril covered. There are some carriers that can provide a small sub-limit for “Surface Water” but this is not a replacement for flood coverage. Ask your agent for a quote indication on flood. Some policies depending on the flood zone have very reasonable premiums.
Check back next week for question # 2!