How Much is the Average Flood Claim?

Flood Claim Washington DCDid you know the average flood claim is about $30,000?

However, if you reside where water rises so high that local emergency responders must cut roof holes in order to rescue individuals, your possible flood loss might be a little higher.

The damage cost to a 2,000-square-foot home by 6” of floodwater:

• Personal items: $650

• Personal items: $650

• Accessories and accent furniture: $450

• Media equipment: $150

• Computer accessories: $1,100

• Living room furniture: $2,700

• Food and kitchenware: $330

• Bedroom furniture: $1,800

• AC/furnace repairs: $270

• Dryer, washer: $150

• Appliances: $180

• Bath and kitchen cabinets: $4,500

• Cleaning: $2000

• Plumbing, electrical: $320

• Windows, base trim, doors: $2,150

• Carpeting, wood, finished floor: $15,870

Grand Total: $39,150

It is $20,150 for 1,000 square foot house

If You Choose to buy Flood Insurance . . .

In order to gain an idea of how much coverage you will require, craft a home inventory then estimate the expense of rebuilding or repairing your house. Together, these two numbers are your total possible loss.

One federal flood policy could cover rebuilding expenses up to $250,000. Also, you can get a National Flood Insurance Program that will cover as much as $100,000 in personal possessions. One or both of these.

If your house would cost over $250,000 to rebuild, you must purchase a private flood insurance policy referred to as “excess coverage” in order to insure your home’s value above $250,000.

Questions you should Ask Your Agent

• What won’t and will be covered?

• Are there agency fees or extra costs?

• Is my policy going to insure me for the actual expense of replacing possessions, or simply what the possessions are valued at?

• My zone: can it change, and thereby, my rates?

The National Flood Insurance Program is reworking its maps, resulting in a few possible rate changes.

If you need help cleaning up after flood damage contact Triangle Legacy at 1-800-830-3324.