Why Flood And Home Insurance Can Not Be Combined

Having flood and home insurance are mortgage requirements for many homeowners.  Home insurance protects you against risks associated with damages to your home that may include fire, wind and theft.  Flood insurance is separate insurance coverage that provides a benefit in the event that your home has been damaged due to flooding. Flood and home insurance can not be combined because the government insures natural disasters, which are a required status of flood insurance.

Home and Flood Insurance
Home insurance is an essential requirement for most every mortgage lender.  Home insurance protects the homeowner and lender from fire or theft.  The homeowner is provided with a dwelling coverage maximum and other standards they must adhere to.  Flood insurance, on the other hand, is required only is a property is in a federally designated flood zone. 

Who Is Responsible for Claims?
The Federal government, through the Federal Emergency Management Agency, or FEMA, provides flood insurance. Individual insurance companies write the policies, but it is the government that guarantees that claims will be paid in the event of a flood.

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