Flood Insurance - Is it Worth it?

A ruling by a federal judge this week could have an impact on hundreds of pending insurance claims for massive property damage caused by Hurricane Katrina.  In the ruling, the judge ruled against a Mississippi couple who argued their insurance policy should cover damage their property received during Hurricane Katrina from "wind driven rain."

The judge ruled in fact the policy did not cover damage caused by flood waters, storm surge or damage caused by wind driven rain.

After the devastation of Hurricane Katrina, several insurance companies have denied billions in damage claims caused by Katrina arguing storm related water damage is not covered under the standard homeowners insurance policy.

It is vital to look carefully look over your insurance policy and if you live in an area prone to hurricanes, storm surge, and wind driven rain, a separate Flood insurance policy may well be worth it.

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