BALTIMORE – One of the great things about living in Maryland is our many miles of shoreline. Many of those who live along these shores have piers, docks, wharves, or a bulkhead. Homeowners may assume that damages to these structures from a flood or a storm surge will be covered by their homeowners insurance. However, many homeowners insurance policies will not provide coverage for this type of loss since flood, storm surge and rising water are not a covered peril under the policy.
Many homeowners who live along the water may have flood insurance through the National Flood Insurance Program (NFIP). Although the NFIP flood insurance policy does provide coverage for certain types of damage to the dwelling caused by flooding, it does not provide coverage for flood damage to structures such as piers, docks, wharves, and bulkheads.
Some homeowners insurance companies may offer limited coverage for damage to these structures. Ask your homeowners insurance producer (agent or broker) if your company offers this type of coverage and see if the offering meets your needs. Additionally, homeowners may be able to obtain insurance coverage for these types of losses through a specialty lines insurance company. Ask your insurance producer for advice on how to purchase this type of coverage. Remember that coverage terms, conditions and cost will vary from one insurer and product to the next, so speak with your trusted insurance producer or company representative to find the right product for your needs.
To learn more about flood insurance, go to the NFIP’s site: www.floodsmart.gov or visit our flood insurance page at: https://insurance.maryland.gov/Consumer/Pages/flood-insurance.aspx.