Does flood insurance cover antique items?

Flood insurance is an absolute necessity in Catonsville, MD. Your standard home insurance policy will not cover incidents where your property or possessions are damaged by flooding caused by severe storms. Does flood insurance cover antique items, though? The agents at HBW Insurance Group can help answer this question and more about indemnity coverage. 

Does flood insurance cover antique items?

A standard home insurance plan does not cover antique items. A standard flood insurance policy, however, pays for specialty, or high value, items such as antiques in Catonsville MD. There are a few general stipulations claims must follow to be approved for payout. 

First, the items damaged must belong to the property owner. Antique items belonging to a family friend stored in the garage do not qualify for coverage. You can file a claim for someone’s items if they are listed as residents of your home. 

Second, the homeowner should expect to receive compensation for the functional value of antiques. Many insurance providers require appraisals before listing specialty items in the policy. You will only receive what an appraiser believes the value of your antiques is worth. You will not receive compensation for the sentimental value your possessions hold. 

How much antique coverage do you need?

The amount of antique coverage you choose to go along with your standard flood insurance policy will depend on a number of factors, not limited to:

  • Lifestyle preferences;
  • The quantity and quality of your possessions;
  • How much you are willing to pay in monthly premiums.

It is imperative that you speak with a professional to determine how much specialty insurance you need to purchase.

An expert from HBW Insurance Group can help you understand how flood insurance with antique coverage works so you fully understand the benefits of such an indemnity plan. Call HBW today to get started with a quote for your next flood insurance plan.