If a storm has been forecast, and your home or business is likely to be in its path, you should be prepared to expect thousands of dollars worth of damage. Many regular homeowners’ insurance doesn’t cover property damage caused by hurricanes and floods – a fact that many homeowners often find out the hard way. If you live in a low-lying area that could be at risk of flooding, be sure to get your home insured against flood damage before the storms hit.
What Is Flood Coverage?
Flood coverage is a separate policy that will insure you against flood-related losses. A flood is defined as “water traveling along or under the ground” and, as we mentioned before, most regular home insurance products will not include this kind of coverage.
Many flood protection policies are underwritten by the National Flood Insurance Program, which is part of the Federal Emergency Management Agency. Set up in 1974, the NFIP seeks to help Florida residents protect and insure their homes against flood damage caused by hurricanes, tropical storms, and heavy rain. Since Hurricane Harvey dumped more than 60 inches of rain across parts of Texas, causing billions of dollars worth of destruction, flood insurance is once again at the forefront of our minds.
Many towns and cities throughout the State are members of the NFIP, meaning that not only can you, the homeowner, be eligible for specialist flood insurance, but also it means that your city is working within the NFIP’s flood plane management to help reduce the risk of flooding throughout the state of Florida.
Who Should Take Out Separate Flood Insurance
In all honesty, we think everybody in Florida should consider investing in this type of coverage to protect their home and business when the rain really falls. Many homeowners do not see themselves at risk if they live on higher ground or are some distance from levees or open water, but the fact is ANY HOME could be at risk of flooding if the storm is severe enough.
Where you live will also affect how much your flood insurance policy will cost you. Homeowners living in low to moderate risk zones should be able to purchase low rate insurance to protect them, while those that live in high-risk areas will pay more based on a number of factors including how each home was constructed and their relationship to sea level.
What Is Covered By Flood Insurance?
Flood insurance policies can be purchased to cover the structure of your home, the contents inside it, or both. The following is a guide to some of the typical items that are usually covered by a flood insurance policy:
Building And Property
The structure of the building
- The Foundations of the building
- Plumbing and central heating
- Central Air Conditioning
- Furnace or water heaters
- Appliances such as ovens, refrigerators, and dishwashers
Personal Property And Contents
- Electrical appliances
- Portable Air Conditioning Units
- Microwaves and other a small kitchen electrical appliances
Keep in mind that the following may not be covered:
- Precious metals
- Valuable paperwork
- Gardens and walkways
- Any financial loss as a result of Business Interruption
If you would like to find out more about Flood Insurance for Florida, speak to our agents today at 561-391-4661.
For more information about how The Sena Group can help you with any
of your insurance needs, please contact us at 561-391-4661.
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