Why Flood Insurance is Necessary in Florida

Posted by Laura Higgins on Thursday, May 17th, 2018 at 9:01am.

Flooding in Florida

Written by: Melissa McFarland

With Hurricane season fast approaching, have you given any thought to exactly what type of water damage your homeowner’s insurance covers?

If not then I suggest you continue reading.  Flooding is any accumulation of rising or standing water. Your home can flood from many different areas such as major bodies of water, heavy and continuous driving rain and even poor neighborhood drainage.  Therefore, that means you do not have to be in a high-risk flood zone for your home to flood!

The standard homeowner’s insurance policy will only cover for wind-driven rain and internal flow of water. Therefore, when leaves are blocking the storm drain in front of your house and water is rising into your home, you are NOT covered under your home insurance.

This type of loss would require a separate flood insurance policy. These policies are very reasonably priced and will add the extra coverage and protection your basic home policy will not. The average cost for a flood policy in a non-high risk zone would be approximately $450 for the year. Two inches of standing water will cost close to twenty-one thousand dollars in damage. It is clear there is no comparison.

There are several ways to cut corners and save money, however when it comes to your biggest asset, your home. Insurance should not be one of them. Please be smart this hurricane season and look into getting a flood insurance policy. Remember to act fast as there is a standard 30 day waiting period for effective dates on non-high risk flood policies. If you purchase now, you will be ready when hurricane season arrives.

Melissa McFarland is a license 2-20 Agent with Coral FInancial Group and can write a policy for you in Miami, Broward or Palm Beach County. You can reach her by calling (954)-345-2600. 





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