Does flood insurance cover special items like paintings which are destroyed?

If you live within a high-risk flood area and receive any kind of federal assistance in buying or building your home, the federal government requires you to obtain special flood insurance. However, even if you are not required to have flood insurance for your home in Pembroke Pines, FL, you may need a policy to protect yourself against losses.

However, you may have some truly unique items like paintings or special clothing or artwork which are not only expensive but irreplaceable. It is important to know whether you are also protected against those losses. 

We at McCormick Insurance Inc. understand how important your valuables are to you. A great deal of thought goes into acquiring such special items, and they can have a special emotional attachment too. We can help you explore the various options you can take to insure your jewelry and artwork.

If your valuables are stolen or damaged, a regular flood insurance policy will cover damages up to your policy limits. You may need to get additional coverage because of the value of the items.

Most insurance policies also only try to pay compensation for losses. They may assess the value on what the value is versus the replacement cost, and often take into account factors such as wear and tear or depreciation.  When it comes to a truly unique item, you may want to find a policy that restores your artwork instead of just replacing it. That might even turn out to be the most economical option, depending on what is needed to restore your items. 

If you possess unique and valuable items, you want to make sure they are protected. McCormick Insurance Inc. proudly serves  Pembroke Pines, FL and helps find the best options for every client.