(Toledo)--After the bombardment of storms this week, not to mention the flooding rains, I decided to do some research about homeowners/renters insurance. No, flooding is not covered under these policies. You have to purchase a separate policy. And you if live in a flood plane, you have to have a flood insurance.
Keep in mind, generally, there's a 30-day waiting period for the policy to go into effect. Also, typically, replacement cost coverage is available for the structure of your home, but only cash value is offered for your possessions.
For more information, you can call the Federal Flood Insurance Program at 888-379-9531 or log onto www.floodsmart.gov.