Today someone who is a friend but not a client told me about his unsatisfactory experience with FEMA and flood insurance. His agent did not fully inform him about the lack of coverage below grade. While it’s true that furnishings below the 1st floor are not covered, the homeowner’s policy does not cover any flood related damage at all. Many people lost their entire home due to the flooding in Colorado, and before that, due to Hurricane Sandy. As a consumer you should always read all your policy documents carefully. But as an Agent, I try to make sure my clients are fully informed. There is no basement or below grade coverage in your flood policy. But there is no Flood coverage in your Homeowner’s policy.
No Basement coverage in your Flood Policy.