Fixed Rate Mortgage. A mortgage where the interest rate remains the same through the term of the loan and fully amortizes is known as a fixed rate mortgage. Since the interest rate remains constant, monthly payments donât change. Fixed rate mortgages come with terms of 15 or 30 years.
1 For 1-4 inches of water, the estimated cost is $7,800. For 9-12 inches, the estimate is $18,930. At 18 inches, the estimated cost is $26,285..  Water damage might be covered by insurance. Flood insurance typically covers damage from a natural disaster, when outside water or mud overflows an otherwise dry house.
For the purposes of insurance, water damage is defined differently from flood damage, according to the Insurance Information Network of California (IINC). Water damage is defined specifically as damage caused by water that affects your house before it touches the ground. Types Most homeowner's insurance policies are classified as HO-2, which covers 16 types of damage, or HO-3, which covers any damage not specifically exempt, such as floods. Both policy types cover accidental water or steam discharges or overflow from your plumbing, air-conditioning, heating or automatic fire-sprinkler systems, or from appliances.