You didn’t think it would happen, but it did. Buford Dam broke and Lake Lanier gushed over the town. The Chattahoochee River overflowed after a torrential rain. Or maybe your sister just left the bath running too long. In any case, your condo has taken some flood damage. Luckily for you, you had the foresight to apply for condo insurance. You hope that will take care of the cost of repairs and replacement. Before a flooding disaster happens, you might want to go over your policy. 

Will You Be Covered?

Your typical condo insurance policy may not cover flood damage unless you purchase a specific flood endorsement. If you live in an area that is at high risk of flooding, you may want to consult with your insurance agent to make sure that your flood coverage is adequate. Do keep in mind that flood insurance generally covers your unit’s interior, such as the flooring or drywalls. As it is, chances are good that your current condo insurance covers water damage from HVAC issues or plumbing accidents. The sister’s bathwater scenario applies here. (Assuming it was a broken tap and not just carelessness.) You may not be covered in the event of natural disaster or other external sources. Your standard condo insurance policy may not cover rising water. Your condo association’s flood insurance will likely protect shared areas such as elevators, hallways and the lobby. Your personal condo insurance, on the other hand, is unlikely to provide coverage in the event of water damage. It is vital that you get flood insurance as a standard policy may not cover this risk. 

For more information, please contact us at Wichalonis Insurance agency, now serving Cumming, GA. We’re ready to help you!