5 Things Everyone in Florida Should Know About Flood Insurance

As we see in the news every year, flooding is a very common natural disaster. In fact, according to FEMA, it is the most common (and costly) natural disaster we experience here in America. Understanding your home’s risk of flooding, your flood insurance options, and what you should do to ensure you are protected from flooding — both physically and financially — 

is crucial for diligent, responsible homeowners. Especially here in Florida, where flooding is particularly common, homeowners cannot afford to be ignorant. Here are five things every Floridian should know about flood insurance:

***This blog is brought to you by Just Insurance Brokers. Whether you are looking to protect your home, your vehicle, or your business, our Doral-based insurance agency will assess both your present and future needs to help you get the right coverage for you. Reach out to us today to get your free quote.***

#1: Flooding is not covered in your homeowners insurance policy.

The typical home or renter’s insurance policy rarely includes flood coverage. While your homeowners policy may protect you from water damage, it doesn’t typically cover water damage caused by flood. A separate flood insurance policy is necessary. 

#2: Flood insurance is relatively inexpensive.

For the protection in grants you in case of such common catastrophes, flood insurance premiums in Florida tend to stay under $500 a year. The exact premium you will end up paying will be calculated based on data such as the age and value of your home, property elevation, and other factors. Based on your specific situation, you may qualify for discounts. Contact an agent at Just Insurance Brokers today to learn more. 

#3: Businesses and homeowners can both get flood insurance.

Everyone in Florida is eligible for flood insurance. Since the entirety of Florida is a flood zone, many people qualify for the National Flood Insurance Program (NFIP), which covers flood insurance for participating communities. If your community does not participate in NFIP, there are also plenty of private insurance carriers for you to choose from. 

#4: Flood insurance covers most, but not all, damages. 

Flood insurance typically covers the physical damage to your possessions and property up to the limit, depending on your flood policy. What’s not typically covered?

  • Moisture, mildew, or mold damage
  • Damage from earthmovers
  • Additional living expenses
  • Loss of use of the insured property
  • Business interruption financial losses
  • Damaged property or belongings outside the insured building
  • Your vehicle

Make sure to read up on the specifics of what is and is not covered when looking for the right flood insurance policy. 

#5: It is strongly recommended that Florida residents and business owners all get flood insurance.

Flood insurance is available to everyone in Florida, and there are lots of different plans to choose from. It can actually be pretty confusing, if you try to figure it all out on your own. That’s why Just Insurance Brokers is here! Our goal is to simplify your flood, auto, home, and other insurance needs. Based in Doral, we serve the state of Florida, representing the top insurance companies available in all areas. Whether you are a business looking for auto, liability, worker’s compensation, property, or other commercial lines; or you are an individual seeking to protect your family’s home, auto, boat, or valuable items, our agencies will cater your coverage to your interests. Contact us today to get your free quote!

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