Saturday, January 05, 2008

What Is Covered By Your Flood Insurance- The Fine Print

By John Paige

If you are planning to purchase flood insurance coverage, but find you have little time to go to the different providers for quotes and policies, you still have one very good option. You can apply for your flood insurance coverage online. The internet can be a great tool for choosing a flood insurance provider that meets all of your coverage needs, and you can even apply for both your quote and your policy online. This can get a bit tricky, however, unless you look at all of the fine print. What follows are a few tips for applying online for flood insurance coverage.

Most of the insurance companies provide contents insurance policies against both man-made and natural calamities like theft and vandalism, fire, explosions, slippage, burst pipes, earthquakes, water or oil leakage, severe weather like storms, lightning, floods, and others. In all these emergencies, you need protection for your property or a replacement when damage or loss could not be avoided.

Here in the United Kingdom, flood insurance is readily available to you, the consumer. All you need do to obtain coverage is visit, call, or find on the internet, an insurance provider who offers a policy that meets your needs at a price you are comfortable paying.

The two most common policies offered in the United Kingdom are building coverage and contents coverage. The contents insurance coverage protects almost everything you own. It covers things such as computers, appliances, televisions, furniture, clothing, kitchen wares, video and audio equipment, and personal effects.

Building coverage, on the other hand, protects both the structure of your home itself and the fixtures in and on the property. These fixtures are things such as kitchen and bathroom cabinets, garages, sheds, toilets, sinks, and bathtubs, and any other permanent fixtures in your house or outbuildings.

If you only purchase contents coverage, then the only things protected are things you can take away from the house without altering it. Building coverage will be needed to cover any fixtures or outbuildings, or anything else that is considered by the company to be a part of the house.

Building coverage will cover damage to both the internal and external structure of your home and its outbuildings and fittings. For this reason, it is of the utmost importance that you obtain adequate enough coverage to rebuild your entire home in the even of a total loss. Your provider can help you obtain an estimate of the total cost of rebuilding so that you can get a better idea of how much coverage you need to purchase.

Your house and the contents therein are at risk from many types of disasters and events, including floods, and you must by now realize how very important it is to have a good and adequate flood insurance policy. Do not wait for a flood to happen to realize that you need to purchase adequate coverage. A few hundred pounds a year is a very small price to pay for a lifetime of security and protection, or as the saying goes, an ounce of prevention is worth a pound of cure.

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