It will be weeks before damage estimates from Hurricane Harvey are finalized, but there is no doubt that insurers will see figures in the billions of dollars.

After Hurricane Katrina, the National Flood Insurance Program (NFIP), a federal program managed by the U.S. Federal Emergency Management Agency (FEMA), experienced more than $15 billion in losses in Louisiana and Mississippi.

Flood coverage

While a homeowners insurance policy will cover a number of specific perils, a standard policy will not provide coverage for flood damage. It may provide some coverage for rain or wind, but flooding from overflowing rivers and streets will not be covered.

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Patricia L. Harman

Patricia L. Harman is the editor-in-chief of Claims magazine, a contributing editor to PropertyCasualty360.com, and chairs the annual America's Claims Event (ACE), which focuses on providing claims professionals with cutting-edge education and networking opportunities. She covers auto, property & casualty, workers' compensation, fraud, risk and cybersecurity, and is a frequent speaker at insurance industry events. Contact her at [email protected]

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