Spring is just around the bend, but that doesn’t imply you’re finished with rough climate. In fact, based on exactly where you live, snowmelt can produce a new hazard — one that’s not covered by standard home owners insurance. That makes March an ideal time to look into flood insurance coverage.


Homeowners ought to realize that they are not covered for damage from flooding unless they have separate flood insurance. And only 5.5 million Americans had government-sponsored flood insurance coverage in 2013, according to information from the Insurance coverage Info Institute. Many property owners elect to go with out it, particularly if they reside outside established flood zones and their mortgage lender doesn’t demand flood coverage. But even houses that are not regarded particularly vulnerable could be broken, specially in years of uncommon weather conditions.


“Don’t rely just on the maps to predict your flood vulnerability,” says Amy Bach, executive director of United Policyholders, a San Francisco-primarily based advocacy organization for insurance coverage buyers.


Water can be among the most destructive forces in nature. The typical claim filed under the National Flood Insurance Program was nearly $ 42,000, based on figures from 2008 to 2012. Meanwhile, the typical premium is around $ 650 annually.


Here are some things you must know or do prior to buying a policy:


Compare quotes


You can get a policy via the National Flood Insurance Plan or through a private insurer. The NFIP has traditionally been a far better worth due to the fact of its subsidized prices, and it still is less expensive for most buyers, Bach says. But the coverage offered by public and private insurers is related.


“We often say get 2 quotes,” Bach says.


Hold exclusions in thoughts


Flood insurance coverage closes a main gap in conventional home owners insurance, but it has exclusions of its own. The National Association of Insurance coverage Commissioners warns that flood insurance normally does not cover the contents of a property, only the structure, and basements have only restricted coverage.


A standard flood policy covers structural components like drywall, circuit breaker boxes, furnaces and foundational walls, says Marjorie Young, senior vice president of E.G. Bowman Insurance coverage in New York. Basement finishing supplies are not covered. Property owners can buy separate coverage for their personal home, but it demands an added premium.


Even if you buy a contents policy via the NFIP, you are covered only for actual cash worth, Bach says. That means you will be reimbursed for what a lost item was worth, not what it would price to acquire a new a single.


Sign up as quickly as feasible


If you live in a moderate- to low-threat area, you may possibly not think you need flood insurance — until you have a flood. And at that point, it is as well late. As with auto insurance coverage, flood insurance doesn’t cover events that occurred just before you had a policy. In reality, most policies have a 30-day waiting period ahead of coverage requires effect, according to the NAIC.


If you’re concerned about spring floods, go over flood insurance with an agent as quickly as achievable. Bach recommends utilizing FloodSmart.gov’s agent locator to locate a single who specializes in flood insurance.


Flood insurance may not be adequate


Flooding is not the only cause you may well have water in your home. Debris can also overwhelm sewer systems and cause them to back up. If flooding is not the technical trigger, a separate sewer backup policy is the only way to be covered.


“Definitely add it if you can afford it,” Bach says. “These days, it feels like insurers, rather of hunting for methods to spend, are looking for methods to deny. … Acquiring a sewage backup endorsement provides you an extra platform to argue for coverage if you have a water loss.”


Even if you get the ideal coverage you can afford, for most buyers, floods present a economic risk. As opposed to homeowners insurance policies, flood insurance policies don’t cover temporary relocation or something outside your residence, such as fences and patio furnishings. But because floods are the nation’s most common organic disaster, it is worth discussing coverage with a licensed agent.


Alice Holbrook is a employees writer covering insurance and investing for NerdWallet. Stick to her on Google+.


Illustration by Dora Pintek