Other Insurance

Flood Insurance —
Planning for the Unexpected

Having Flood Insurance is a Good Idea

Because homeowners insurance policies do not provide coverage for damage caused by flood, buying flood insurance is one of the smartest ways to protect your home and your belongings. When you consider that a flood loss is 30 times more likely to occur than a fire loss, it’s a good idea for many homeowners to look into purchasing flood insurance their property.

Flood Insurance Helps You Get Back to Normal Faster

As a participating company in the National Flood Insurance Program, The Hartford offers National Flood Insurance Program flood insurance to AARP members through the AARP Flood Insurance Plan. You have the added security of knowing that National Flood Insurance Program flood insurance is backed by the federal government.

Understanding Flood Insurance

Generally, a flood insurance policy provides coverage for physical damage to your home or personal property directly caused by a flood. There are a few important things to consider when you purchase flood insurance:

Building property flood insurance and personal property flood insurance are not the same thing. Each type of flood insurance must be purchased separately. Generally, the National Flood Insurance Program encourages people to purchase both types of flood insurance so that both your home and the contents within it are protected.
Flood insurance is not a valued policy – meaning that flood insurance pays the replacement cost of actual damages up to the policy limit. If the limit of liability is higher than the cost of the damage, you do not receive the additional funds.
Flood insurance is not a guaranteed replacement cost policy. Guaranteed replacement cost policies pay the cost to rebuild after a total loss, regardless of the limit of liability. Flood insurance will not pay more than the policy limit.

To learn more about flood insurance through the AARP Flood Insurance Plan, check out our flood insurance coverage information and ways to save on your flood insurance rate.

Visit http://floodsmart.gov to learn more about the National Flood Insurance Program.