Florida Insurance: Flood
Do you live in a flood zone? Do you live outside of a flood zone? Are you unsure? If you live in a flood zone, it is critical that you have flood insurance. If you don’t, it’s still a good idea to have a flood insurance policy in place. Even areas that have not flooded for decades are prone to flooding should the right weather system come through. Homeowner’s policies won’t cover flood damage, and often when severe weather that will bring flooding is forecasted, it’s too late to call your insurance provider to get coverage. IF you’re unsure if you’re in a flood zone, give your Florida insurance agent at Marvel Insurance a call, and we will help you find out, and provide you with some affordable coverage options.
Floridians have two options for flood coverage
The first option is a program managed by FEMA, the National Flood Insurance Program (NFIP). NFIP will provide coverage for structures that are not lived in, as well as structures that are lived in with up to four separate units. NFIP won’t cover homes that are not permanently affixed to a foundation (i.e. a mobile home), condos, properties that have filed numerous flood-related claims, and communities that don’t participate in the program.
If NFIP isn’t the best option for you, your other choice is to purchase a private flood insurance policy. Often times we find that private flood insurance policies are more affordable than NFIP policies because there are many fees omitted that must be included with an NFIP policy.
I don’t live in a flood zone, why would I ever need flood insurance?
As stated above, there really is no one place that is completely safe from flooding. Flooding can You may not live right by the beach, but that does not make you immune to the possibility of a flood! How? An area that stays dry most of the time could take on an impressive amount of rainwater during a flash flood. Where will all this water go if the area doesn’t have sufficient drainage in place? The water has nowhere to go until it can slowly drain into the ground, which can take a long enough time for you to experience flood damage and have issues with molding.
If we get a freak storm, I can just rely on FEMA to cover my claim, right?
Not necessarily. In order to receive grants from FEMA, the area that the property was damaged must have been declared a disaster area. If the area is not declared a disaster area, FEMA will provide no assistance. Even if your property sustained tens of thousands of dollars, if it is not in a FEMA declared disaster area, you won’t receive any assistance.
Give your Florida insurance experts at Marvel Insurance a call today so we can go over the best options for your flood insurance coverage.