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NEW YORK, July 11, 2019 — Tropical Storm Barry has the potential to cause property damage along the Gulf Coast which is covered under different insurance policies, according to the Insurance Information Institute (I.I.I.).
Property damage to a home, a renter’s possessions, and a business—resulting from a flood—is generally covered under FEMA National Flood Insurance Program (NFIP) policies, if the homeowner, renter, or business has purchased one. There are, however, a few private insurers who offer flood insurance.
Private-passenger vehicles damaged or destroyed by either wind or flooding are covered under the optional comprehensive portion of an auto insurance policy. Nearly 80 percent of U.S. drivers choose to purchase comprehensive coverage.
The I.I.I. offers these recommendations to Gulf Coast residents: