What type of peril is usually covered by a standard flood policy?

A standard flood policy specifically covers rising water levels that result from excessive rainfall, storm surge, or other water-related events that cause flooding. Such policies are designed to protect property owners from the financial losses associated with flooding, which is a significant risk in many areas, particularly those that are prone to heavy rains or near bodies of water.

Flooding can cause extensive damage to structures and their contents, and standard homeowners' insurance typically does not cover these types of water damage. Therefore, a standard flood policy is essential for providing this specific coverage. The focus on rising water levels distinguishes flood insurance from other types of property insurance that cover different types of perils.

In contrast, other options such as coverage for theft, earthquake damage, or fire damage would fall under different types of policies or endorsements, as they do not pertain to flooding situations. Various policies like homeowners' insurance or specific peril coverage would address those risks, further clarifying why a flood policy is focused solely on water-related perils.