Home Insurance Includes Flood Damage:

Rising water that causes damage to a home or its contents is not covered by home insurance. Instead, there is a separate flood insurance sold that handles this peril. According to a study by the National Association of Insurance Commissioners, about 1 out of every 3 homeowners believes flood damage is covered by their homeowner’s policy.

You Do Not Get the Market Value of Your Home If It's Completely Ruined:

The amount of money your insurance company provides you after experiencing a loss is often equal to the replacement value. The replacement value is not the same amount of money you would get if you sold your home in the market. Since the total cost to replace or repair your home changes, you must examine your home insurance policy to ensure you have adequate coverage that also considers inflation.

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