Owensboro Flood Insurance

Your Complete Guide to Owensboro, KY, Flood Insurance

How to find a local adviser

Owensboro Kentucky Flood Insurance

In Owensboro, KY, your property will need adequate protection for all the what-ifs. Home and commercial insurance policies may have exclusions for critical coverages. Flood insurance is an essential policy necessary for every structure.

An independent insurance agent can help you find coverage for a fair price. They work with several carriers so that you get the best options in town. Connect with a local adviser for tailored quotes. 

What Is Flood Insurance?

Every policy you own in Owensboro, KY, will have a unique set of coverages for your exposures. One type of policy that a lot of insureds don't know they need is flood insurance. Most consumers think this is automatically included in their other property policies. 

  • Flood insurance: This type of property insurance covers a structure for losses due to a flood. This is caused by snow melting, storm surges, heavy rainfall, storm drainage system failures, and even levee dam system failures.

What Does Flood Insurance Cover in Owensboro, KY?

Kentucky has approximately 1,245 flood claims reported yearly. If you live in Owensboro, the right protection for your property could save you thousands of dollars in damage. Take a look at what your Owensboro, KY, flood policy will cover.

    • Electrical and plumbing systems
    • Portable and window air conditioners
    • Furnaces and water heaters
    • Appliances
    • Carpeting
    • Built-ins
    • Window treatments
    • Valuable items
    • Foundational elements
    • Detached garages
    • Fuel tanks
    • Well water tanks and pumps
    • Solar energy equipment
    • Personal belongings

What Does Flood Insurance Not Cover in Owensboro, KY?

No matter if you have a personal or commercial insurance policy, they all come with exclusions. When it comes to water damage in Owensboro, KY, your flood policy is very specific. Your policy will only pay for losses that are directly related to flooding. If you have a water loss that can't be categorized as flooding, it won't be covered under this policy.

  • What is considered a flood: A flood is an excess of water on land that is usually dry. This typically is classified as affecting two or more acres of land or two or more properties. 

Losses that are generally excluded from your flood policy

  • Water/sewer backup
  • A burst pipe
  • A waterline malfunction
  • A roof leak

How Much Is Flood Insurance in Owensboro, KY?

Like your other personal or commercial insurance policies, the rates vary. Carriers use your personal data and outside risk factors when determining costs. Items that may affect your Owensboro, KY, flood insurance are the following.

  • The location of your property
  • The flood zone of your property
  • Whether the property is residential or commercial
  • Your insurance score
  • Your loss history
  • Prior coverage history

The Federal Emergency Management Agency, also known as FEMA, sets the guidelines for flood coverage. Similar to a workers' compensation policy, flood insurance is government regulated. FEMA works with private carriers and agencies to provide flood protection across the country.

How Much Is Flood Insurance in Zone AE?

Every property is assigned a flood zone through a flood insurance rate map. This flood zone will determine how at-risk your property is for a flood loss. While all locations will have some exposure to flooding, some are higher than others. The difference in flood zone types in Owensboro, KY are the following.

  • Flood Zones B, C, and X: These are low to moderate flood risks and usually less annual premium for a flood policy. Insurance is typically not a requirement by your lender for this zone type.
  • Flood Zones A and V: These zones are your high-risk locations and the most significant change for a flood loss. Your premiums will be more expensive, and lenders require flood insurance.

The average annual flood insurance premium in Kentucky is $1,095. The cost of flood insurance in an AE flood zone will be more costly. The exact pricing can't be determined without an accurate quote. 

How Much Flood Insurance Do I Need?

In Owensboro, KY, the amount of flood insurance will be dependent on what you are covering. There are three different categories you can have flood insurance for. The amount of coverage necessary for each will be set by FEMA and your specifics. They are as follows.

  • Flood insurance for your home: Flood carriers usually offer $250,000 for the building and $100,000 for the building contents.
  • Flood insurance for your business: Flood carriers usually allow $500,000 for the building and $500,000 for the building contents.
  • Flood insurance as a renter: Flood carriers typically offer $100,000 for contents-only coverage. 

How an Independent Insurance Agent Can Help

Your property in Owensboro, KY, will need adequate coverage for a loss. There are several different policy types that you can obtain to protect your assets. One is flood insurance. 

An independent insurance agent can help with coverage and premium options. Since they work with several carriers you'll get the best policy around. Connect with a local expert on TrustedChoice.com and start saving today.

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TrustedChoice.com Article | Reviewed by Jeffrey Green

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