What is the coverage for
We have a standard meaning of flood that applies to contents, home, domestic strata-title, and small business policies. In our company, the standard meaning of flood is the covering of natural dry land by water. In a word, water escaping or releasing from specific confines.
To enumerate lakes, rivers, creeks, canals, reservoirs, dams, or any natural altering or modifying watercourse. Your policy covers circumstances like storm or water damage, even if it doesn’t include flood damage. Storm or Rainwater Insurance policy covers situations where rainwater overflows your home.
However, many insurers include rainwater overspill as a sector of storm coverage. Other insurers won’t cover rainwater overspill or storm over pouring if the client prefers not to have Flood Insurance coverage. If you want to scan through your FI policy to understand further about your coverage, talk to our insurer.