Flood Insurance Question
While I wait for my insurance company to reply...does anyone know about "contents only" flood insurance?
We haven't had water in our basement, despite heavy rains this month (more than twice the average for August already). We are near a flood plain and our sump is active much of the year.
Our basement is unfinished, 2000 sq. ft., and houses two two-stage furnaces, a boiler and a water heater. We have a sump pump and an ejector pump. We replaced the sump pump this year.
My concern is that we could lose electric power, leaving us without the sump. We've had one two-hour outtage in the six years we've lived here; lines are underground.
I looked into a natural gas powered gas generator -- $10K! A battery backup for the sump would only buy a little time, and I don't want a gasoline powered generator. (I wonder how long it would take to get three inches in our basement -- high enough to reach the furnaces.)
I'm wondering if we couldn't buy "contents only" flood insurance. Would that cover the furnaces, etc.? I'm guessing it could cost $20-30K to replace everything. The FEMA chart shows that would cost about $200-300 a year, as opposed to $2100 for full basement coverage.