That's because federal flood insurance covers only structural and some mechanical items in a basement. So if the walls or floor buckle or your water heater or electrical panel drowns, you're good. But the waterlogged oak wet bar, carpeting and leather recliners are all your problem.
If your basement has a walk-out to the yard, then it's not a basement, and federal insurance gives you full coverage of up to $100,000 of personal property and contents, along with $250,000 on the structure. Likewise, if your regular homeowner's policy has a rider covering sump-pump failure or backed-up sewers, that coverage also will pay for damaged furnishings, clothes and other property, provided the water damage was caused by a bad sump pump or an overwhelmed sewer system.
But if you have to walk up to get out of your lower level, it's a basement, and the only way to protect anything beyond the basics is with "excess flood insurance."
Even with flood insurance, basements are sunk
Sometimes I think that Fate has it in for my hometown.
Blame game played in wake of Quincy's new flood map - Gate House
QUINCY – Two months have passed since the city’s new flood map took effect, and all that’s flowing into coastal neighborhoods is new paperwork with payment deadlines.
Is the NFIP truly subsidized?
Billions were spent on interest from the NFIP to the U.S. Treasury.
What % of our premiums go toward our claims?
Thank you Willo Kelly
The N F I P is not Subsidized
Willo Kelly explains why its totally false to describe the NFIP (National Flood Insurance Program) as a "taxpayer subsidized program".
Click on link for primary homeowners and for information about refunds.
"if residents rebuild with a basement, FEMA cannot guarantee they'll be eligible for federal flood protection, insurance or low-interest loans if flooding takes place.
FEMA: Rebuilding basements would cost Pilger its flood insurance
Basements saved hundreds of small town residents from twin tornadoes, but now, they won’t be part of the rebuilding process.