Does my flood policy cover my personal property in the basement?

First, congratulations for making the wise decision to have a flood policy. Second, most flood policies have only limited contents coverage in the basement. Flood policies usually only cover items meant for a basement. Now-a-days we have everything from game rooms to home theaters to wine cellars that would be the envy of the Queen of England down there. However, flood policies only cover basement items such as:

– Air Conditioning units-portable or window type

– Clothes washers and dryers

– Food Freezers other than walk-in and the food in the freezer

There you have it, very limited coverage. Already have a home theater in the basement and not sure what to do? May I recommend a dike and a windmill? Seriously though, you can’t get flood protection for these kinds of items in the basement. Therefore, this is something you should seriously consider before finishing a basement, talk to your agent first to see if it is possible to get coverage for what you are planning to do.