Flood Insurance Protection

Flood Insurance Policy Spokane, WASince standard homeowners insurance doesn’t cover flooding, it’s important to have protection from the floods associated with hurricanes, tropical storms, heavy rains and other conditions that impact the U.S. Protect yourself with a flood insurance policy from Legacy Insurance LLC.

Flood insurance protects two types of insurable property: building and contents. The first covers your building, the latter covers your possessions; neither covers the land they occupy.

Building coverage includes:

  • The insured building and its foundation
  • The electrical and plumbing system
  • Central air conditioning equipment, furnaces, and water heaters
  • Refrigerators, cooking stoves, and built-in appliances such as dishwashers
  • Permanently installed carpeting over unfinished flooring

Contents coverage includes:

  • Clothing, furniture, and electronic equipment
  • Curtains
  • Portable and window air conditioners
  • Portable microwaves and dishwashers
  • Carpeting that is not already included in property coverage
  • Clothing washers and dryers

The two most common reimbursement methods for flood claims are : Replacement Cost Value (RCV) and Actual Cash Value (ACV). The RCV is the cost to replace damaged property. It is reimbursable to owners of single-family, primary residences insured to within 80% of the buildings replacement cost.

All other buildings and personal property (i.e. contents) are valued at ACV. The ACV is the RCV at the time of loss minus physical depreciation. Personal property is always valued using the ACV.

Talk with Legacy Insurance LLC today: 509-960-2550 to identify the best combination of coverage, value and price just for you.

Content provided by FloodSmart.gov.

Frequently Asked Questions about Flood Insurance

How much does flood insurance cost?

Flood insurance costs vary greatly depending on the location of your home and the likelihood that it could flood. To see if you’re located in a flood zone, you can use the FEMA Map Service

How do I tell what my flood zone is?

A call to our agency, we can quickly determine if your home is in a flood zone. You can also review the FEMA Flood Map and determine your risk.

What happens if I have flood damage and no flood insurance?

If your home floods and you do not have flood insurance, your options are limited to applying for grants and loans to help you pay for the cost of repairing and replacing your home and contents.

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