It should be noted that additional named insureds do not necessarily have all of the privileges and. obligations of the first named insured such as the obligation to pay premiums and the right to. cancel coverage and receive notice of cancellation.
Generally, physical damage to your building or personal property âdirectlyâ caused by a flood is covered by your. flood insurance policy. For example, damages caused by a sewer backup are covered if the backup is a direct result. of flooding.
Flood damage is typically excluded under standard homeowners' and renters' insurance policies. Flood coverage, however, is available in the form of a separate policy both from the National Flood Insurance Program (NFIP) and from a few private insurers.