Floods can happen anywhere, from the West Coast to the Eastern seaboard. You don’t have to be located in an area with storms and hurricanes to experience the extreme expense of a home flood. Many times, floods are caused by weather, but they can also be caused by backed-up sewers and other city-related water issues.
Many standard homeowner’s insurance policies don’t actually cover flooding caused by extreme weather conditions, such as spring thaw. Likewise, they don’t include flooding that originates from outside the home, such as a sewer-related problem.
People who live in coastal areas, where their homes are more likely to flood, usually don’t have flood insurance. Only about 20% of homeowners in Texas, Louisiana, and Florida have flood insurance, while the rest might not think it’s necessary, aren’t offered the option, or find it too expensive to maintain.
Insurance companies largely avoid offering flood insurance because it’s difficult to price the risk and flood damage can end up costing them thousands of dollars when the event eventually occurs. The National Flood Insurance Program (NFIP) offers flood coverage in the form of a separate policy as might a few other private insurers.
If your insurance company won’t cover the cost of your flood damage, make sure they aren’t bad faith insurance companies. Bad faith insurance companies will use underhanded tactics to prevent themselves from losing money, even if they are legally obligated to pay a claim.
Talk to one of our skilled New Orleans property casualty lawyers about your case as soon as possible. We can look at the details of your situation and give you experienced legal advice regarding your best course of action.