American Bankers Flood Insurance (2022)
American Bankers flood insurance coverage is an add-on policy that provides coverage a standard homeowners policy does not. American Bankers flood insurance is available throughout the U.S., and the company offers different flood coverage options through Assurant. American Bankers Association flood insurance rates will depend on your house and the flood zone in which it's located.
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UPDATED: Apr 1, 2022
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- The American Bankers Association offers flood insurance through Assurant
- American Bankers flood insurance is available through the National Flood Insurance Program (NFIP), private residential coverage, and private commercial coverage
- American Bankers flood insurance will cover anything that was damaged as a direct result of flooding
There are a lot of current homeowners living without comprehensive flood insurance. This is likely because typical homeowners’ and renters’ insurance does not cover damage from flooding. To protect your home from flood damage, it may be worth understanding what your coverage options are. If you are currently shopping for flood insurance, you may be interested in learning more about American Bankers flood insurance coverage. American Bankers flood insurance is available through the Assurant brand and is an option in several U.S. states, Canada, South America, and several countries in Europe.
It’s not uncommon for homeowners’ insurance coverage to not include a flood policy; However, they may offer it as an add-on, so it’s a good idea to search for affordable flood insurance options in your area to see what may fit your needs. However, if your home insurance company doesn’t offer flood insurance and you need to buy it elsewhere, American Bankers insurance may be a good fit for you.
Before you make a final decision about flood insurance, you should shop around and compare insurance quotes from multiple companies to get the best deal. This should help you find affordable flood insurance rates while still getting great flood insurance coverage.
What is American Bankers flood insurance?
Under the name Assurant, American Bankers Insurance Company offers flood insurance protection and support plan to policyholders both in the U.S. and abroad. While American Bankers flood insurance is not available everywhere, coverage with Assurant is fairly widespread.
American Bankers flood insurance is available through the NFIP Flood Insurance Program. The National Flood Insurance Program (NFIP) is managed by FEMA and is delivers protection to the public by a network of insurers. On the American Bankers website, the company states that its goal is to help the NFIP with necessary and important reform, just as it has over the past 30 years.
Through Assurant, the American Bankers Association is the second-largest flood insurance provider in the U.S. American Bankers continue to cite overwhelming climate changes, necessary flood reform, and changes to the NFIP as the major reasons why American Bankers has expanded into the private sector as a flood insurance provider.
The types of coverage offered by Assurant’s flood protection insurance options are:
- NFIP public plans
- Residential flood plans (private)
- Commercial flood insurance (private)
- Add-ons for flood protection and coverage with homeowners insurance policies
Your needs for flood insurance will help you navigate the array of insurance types that are offered. American Bankers flood insurance is one of several types of coverage when it comes to flood insurance coverage.
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What does American Bankers flood insurance cover?
American Bankers homeowners insurance policies with Assurant offer coverage for virtually anything that is a direct result of flooding. Essentially, this amounts to an excess of water on land that is normally dry that has impacted your home or personal property.
While the list below is not exhaustive, it offers several examples of what is typically covered with an American Bankers flood insurance policy:
- Electrical issues
- Plumbing issues
- Furnaces and water heaters
- Refrigerators, stoves, and most built-in appliances
- Carpets and flooring
- Built-in cabinets and bookshelves
- Windows and blinds
- Foundational issues
- Staircases and ramps
- Attached and detached garages
- Well water tanks and pumps
Flood insurance has the potential to cover a lot of damage, but it will matter how your items or specific pieces of equipment were affected. As an example, your flood insurance could cover a backup issue with your sewage system, so long as that backup was a direct result of flooding on your property. However, if your sewage system was backed up for some other reason, your flood insurance would not help you pay for repairs.
Flood insurance is not included as a standard part of your home insurance policy, but rather as an optional add-on. In some cases, you may be required to purchase flood insurance by your lender. This is the case when the home is in a high-risk flood zone. You can check the flood zones provided by FEMA to see what zone you’re in.
It is important with flood insurance, as with all types of insurance, to shop around and compare insurance rates with multiple companies. You can familiarize yourself with different policies and take your time reviewing the terms and conditions with different companies.
How much is American Bankers flood insurance?
American Bankers does not offer an online quoting tool on its website to see how much you would end up paying for coverage. In most cases, your best bet for figuring out the cost of flood insurance with American Bankers — and any company — is to get direct quotes from the company based on your specific information.
Insurance companies like American Bankers decide their rates by assessing several different factors. These factors include:
- Where you live (especially if you’re in an area more susceptible to flooding)
- How much property you have
- Whether you choose a low deductible
- The age of your home or structure
- The contents of your home or structure
The average cost of flood insurance is around $60 a month. But you may find that you pay much more or much less depending on your specific home and flood zone. This is because insurance companies assess your levels of risk as you answer specific questions about yourself and your home or structure.
If you get a quote from American Bankers or any other insurance company, and you believe you should not be paying so much for coverage, you can always get online quoting from other companies to see if they offer helpful coverage at more competitive rates.
Does American Bankers let you make claims online?
The American Bankers website does not allow you to make online flood insurance payments or file flood claims on the website. When you use your American Bankers flood insurance login, you can simply access your policy and print information.
If you ever need to file a claim for flood insurance, you can call the American Bankers flood insurance phone number and speak to a representative.
After learning more about American Bankers flood insurance, you may be interested in speaking to an agent to see how much you would end up paying for a policy. But you should still shop around with other companies to avoid overpaying for flood coverage.