Flood Insurance in Indiana

While it may not be mandatory, the opportunity to have flood insurance protection on your home or commercial property is available with CXE Insurance, as it covers various scenarios that your standard insurance may not cover. Below is more information surrounding flood insurance and whether it is right for you.

Is Flood Insurance Required?

While it is not a state requirement to carry flood insurance, some areas may be designated as current flood zones and require supplemental flood insurance. This would be needed for the mortgage lender or other lienholder on the property and can apply to either a residential or commercial property.

If you are interested in flood insurance but do not live in a flood zone, you do have the option to purchase it as a supplemental option and add it to your current insurance policy. There have been situations where areas that have no history of flooding experienced flood damage for the first time, leaving homeowners to pay for the damages out of pocket.

What Types of Disasters Are Covered?

With standard insurance, any damage caused by water risks not being covered. If there were a disaster involved or flooding caused by the weather, you would need flood insurance to be compensated for damages and repairs. These disasters include the following:

• flash flooding
• hurricanes
• breaking or opening of dams

These are some of the more common situations where extensive water builds up and can cause excessive moisture to sit in an area for long periods. With so much water in one place and nowhere for the water to go, the damage can be significant, costing months of repairs.

Do You Still Have Questions?

If you have more questions about flood insurance and what that looks like, contact our team at CXE Insurance today. We proudly serve clients in the New Albany, IN community and surrounding areas.