Monday, December 13, 2010
Flooding and insurance: What to do
-Document the loss. Take photos, notes, video, etc.
-Contact your insurer as soon as possible. Be aware that standard homeowners coverage does not cover flood damage. But you may have flood coverage without knowing it -- in flood-prone areas, it's often required in order to qualify for a mortgage.
-Mitigate the damage as best you can. Get furniture and belongings up out of the water if possible. Shovel or squeegee mud and water out. Start drying things out.
-Create a paper trail. If you rent a pump, save the receipts. If your electrical system's damaged and you have to move to a motel temporarily, save those receipts.
-Where practical, avoid throwing out damaged items. The adjuster may want to see them.
Also: Standard flood coverage generally doesn't cover basement improvements, like finished walls or floors, or furniture or personal belongings in a basement. It does, however, cover essential equipment like your furnace and water heater.