LAS VEGAS – Las Vegas Valley experienced heavy rainfall, resulting in damage to several local properties, some of which were completely swept away. While flooding is not a common occurrence in Nevada compared to other regions in the United States, it serves as a stark reminder that such natural disasters can strike unexpectedly, and their aftermath may not always be covered by standard insurance policies.
The Nevada Division of Insurance has emphasized a critical point: the widespread misconception that homeowners’ or commercial property insurance automatically includes coverage for losses or damages caused by floods. This common and potentially damaging myth underscores the need for individuals and businesses to assess their insurance coverage carefully.
Simply possessing an insurance policy does not guarantee protection against flood-related incidents, and individuals should proactively examine whether additional flood insurance is necessary.
Flood insurance coverage is available through private insurers and the National Flood Insurance Program, a federal initiative administered by the Federal Emergency Management Agency (FEMA) specifically designed for buildings. However, it is essential to note that these policies typically do not extend to personal or commercial vehicles.
To address potential damage to vehicles caused by disasters like floods, comprehensive coverage within an automobile insurance policy often proves vital. This coverage, sometimes listed as the “other than collision” provision in insurance contracts, generally offers protection against such unforeseen events.
The Nevada Division of Insurance advises individuals to adopt several best practices in anticipation of potential disasters. These include documenting their property through photos or videos before any damage occurs, obtaining repair estimates, and most importantly, thoroughly understanding their insurance policies to ensure adequate coverage before any accidents or disasters strike.
Credits: Fox 5 Vegas
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