Flood Insurance in Wilmington, IL
Flood insurance is a crucial consideration for homeowners and renters in Illinois due to the state’s significant flood risk. Illinois has one of the largest inland systems of rivers, lakes and streams in the United States, with nearly 15% of its land area subject to flooding.
What Is Flood Insurance? 
Flood insurance is a specialized form of property insurance designed to help cover losses and damages resulting from flooding. Unlike standard homeowners or renters insurance policies, which usually exclude flood damage, flood insurance can offer financial protection against the severe financial impacts of floods.
What Does Flood Insurance Cover?
Flood insurance typically helps cover the following two main areas:
- Building property coverage—This can include the foundation, electrical and plumbing systems, central air conditioning, furnaces, water heaters and built-in appliances like dishwashers.
- Personal property coverage—This can include personal belongings such as clothing, furniture, electronics and other personal items.
What Is Not Covered?
The following areas are not typically covered by a standard flood insurance policy:
- Basement improvements—Finished walls, floors and ceilings in basements are generally not covered.
- Vehicles—Cars and other vehicles are not covered under flood insurance.
- Currency and precious metals—Cash, precious metals and valuable papers are typically not covered.
Is There a Waiting Period?
Most policies have a 30-day waiting period before the coverage becomes effective. This means that if you purchase a flood insurance policy today, it will generally take 30 days for the coverage to start. Planning ahead and purchasing flood insurance well before any anticipated flooding events is essential to help ensure you have coverage when you need it.
Learn More
For flood insurance near you, contact Oak Knoll Insurance & Tax.