Property and Casualty Insurance Resources for Florida Residents
With the high number of severe storms in Florida every year and the large amount of rainfall and other damages associated with them, it is vitally important for every homeowner to have the proper insurance to cover their home from all types of storm damage. However, it is important to know that most basic homeowners insurance policies do not cover you for loss or damages due to flooding.
Flood insurance coverage must be purchased as a separate policy. We will explain the basics of flood insurance now to give you a clearer idea of why you should consider carrying it.
Flood Insurance is a must in Florida!
Most people are not aware of the fact that a basic homeowners insurance policy does not cover damage caused by flooding, including flooding caused by the storm surge from a hurricane. To protect yourself completely, you really need to have flood insurance to cover your home from loss or damage in the event of storm flooding long with hurricane and supplemental hurricane flood insurance to or a flood from a hurricane storm surge.
What Exactly is Flood Insurance?
Flood Insurance coverage is provided through the National Flood Insurance Program (NFIP). This program was created by the U.S. Congress to assist homeowners in high-risk and other areas to acquire flood insurance at the best possible rates, but based on the risk in their particular area.
Just a few inches of storm water can cause thousands or even tens of thousands of dollars in damage to your home. Flood insurance will cover this damage and allow you to have your home repaired. In fact, over the past ten years, the average flood damage claim has amounted to over $33,000! Since one storm can dump many inches of rain and one blocked sewer or drainage system can lead to a major flood, a proper flood insurance policy, designed for your particular risk area, is definitely must-have coverage.