Flood Insurance Policy Question!?

Question

My grandmother jus purchased flood insurance, the policy refers to two floors, is the foundation considered floor one?

Answer 1

That would be, two floors above ground level.  The flood policy doesn't cover any contents below ground level - like a basement.

Answer 2

Well two floors would mean EITHER one story with basement (or crawl) OR 1 1/2 or 2 stories on a slab.  

There is limited basement coverage on a flood policy.  If finished, the flood will cover unfinished dry wall on the walls.  It will also cover the systems of the house, furnace, water heater, electric panel, etc.  It will also a few other items such as the washer/dryer and food freezer (not an extra fridge) - if she purchased contents coverage.

Remember, seepage is never covered.  For flood insurance to kick in, the water has to be above ground on normally dry land, cover EITHER 2 acres (on the covered property) or 2 properties in the immediate area (so it could be her house & someone else's a few doors down)

I hope this helps.