Not all landlord insurers cover flood and in many cases their definition of flood cover may differ from other insurers, its best to discuss options with an insurance broker , Steve Sloan a broker with Insure 247 urges landlords use the following check list
Landlords Insurance Flood Check-list
- Consider the properties proximity to water (creeks, rivers, dams and lakes)
- Has the property flooded in the past? What was the land before it was built on? (Was it a flood plain)
- Check your insurer cover water inundation if you have units above you.
- Get quotes from insurers that do offer flood cover as they have the technology to predict the flood risk.
- If you do use a direct insurer check the flood payout as many have claim limits for flood.
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