Flood Insurance – Is Your Florida Home Covered?

Florida Flood Insurance CoverageIn Florida or anywhere else in the United States, your home is one of your most valuable assets or in most peoples cases their biggest liability, so you need to make sure it’s protected properly. Unless you’re a licensed insurance agent in Florida, like myself, it can be difficult to understand if you need a separate flood insurance policy or if your homeowner’s insurance covers these damages or not.

There are many variables that affect the cost, coverage, and terms of ones homeowner’s insurance policy. In Florida specifically, homeowner’s insurance can be quite costly and still leave your home open to unnecessary risks if you’re not an educated and informed buyer. The coverage amounts and areas also widely vary depending on which Florida insurance carrier is insuring your house. For these reasons, I’ve put together this quick reference guide to properly identify if your home needs flood insurance and also teach you how to be a smart consumer.

Why Your Florida Home Might Be At-Risk

There are too many misconceptions about home and flood insurance than I would ever care to list in this post, but there are a few main points you should know in order to make sure you’re home is properly insured just in case mother nature does come knocking on your door.

1.) Homeowner’s Insurance Covers Flood Damage – This is one of the most common misconceptions many people believe to always be TRUE. The fact is, MOST Florida insurance carriers DO NOT COVER your home for flood damage.

2.) I Don’t Live In A Flood Zone, So I Don’t Need Flood Insurance – According to Federal Emergency Management Agency, or better known as FEMA, deemed the entire state of Florida to be a FLOOD ZONE. Depending on what geographic area of the state you live will determine the level of flooding risk that is associated with the ground your home was built on.

3.) Flood Insurance is REALLY Expensive – Sure, depending on where you live in Palm Beach County, Broward, or Dade County, there are certain areas where flood insurance is far more costly to purchase. For many of us in Florida, that don’t own beachside mansions, flood insurance can typically be purchased at a reasonable rate.

National Flood Insurance Program (NFIP)

The Federal Government established NFIP, in 1974 to help Florida residents protect their homes from flood damage caused by a hurricane, tropical storm, or heavy rain. In order to purchase flood, the city you live in must be a member of the NFIP. Becoming a member commits the community to upholding to the NFIP’s flood plane management guidelines. By doing so, these Florida towns and cities are helping reduce the risk of flooding in their communities.

To find out if your city, in Florida, is a participating member of the NFIP click this link, FEMA Flood Program List.

LOW-to-MODERATE Risk Zones
Florida homeowners may also find additional savings on flood insurance if their home is located within a FEMA Preferred Risk Policy (PRP) Zone. This allows homeowners who live in low-to-moderate flood risk communities to purchase flood insurance for even lower rates. The lower flood risk areas included in these zones are B, C, and X1,2,3.

HIGH Risk Zones
The geographical zones the NFIP has deemed high risk for flooding are zones A and V. Flood insurance rates in these zones are based on a number of factors like, how the home was constructed and your homes relationship to sea level. Flood insurance policies can be purchased for the structure, contents, or both.

What Flood Insurance Really Covers

The NFIP was established by the Federal Emergency Management Agency, or FEMA. This organization works with 75+ privately owned, insurance companies to provide affordable flood insurance to renters, homeowners and even business owners. Flood insurance rates are consistent nationally, so you’ll get the same quote regardless of what company you choose to purchase it through. The flood insurance premium for your home will be determined by a set of factors. As said earlier, some of these factors include your homes risk level, the year your home was constructed and how it was built, e.g. concrete block construction (CBS). Below is a list of items that are covered under a typical flood insurance policy

Building/Property Coverage (including but not limited to)

  • Structure and Foundation
  • Plumbing and Electrical System
  • Central A/C Unit, Heaters (Furnace and Water)
  • Appliances: Dishwashers, Refrigerators and Ovens

Personal Property Contents Coverage (including but not limited to)

  • Personal Items: furniture, electronics, and clothes
  • Window and Portable A/C units
  • Microwaves and Non-stationary Dishwashers
  • Carpet
  • Clothe Washers and Dryers
  • Deep Freezers, including Food
  • Original Artwork or Furs, only certain valuable’s up to $2,500

What’s Not Covered (including but not limited to)

  • Moisture, Mildew or Mold Damage that’s Avoidable by Homeowner
  • Money, Metals (gold, silver, etc.) or Valuable Paper, like Stock Certificates
  • Outside Property: Trees, Shrubs, Wells, Septic Tanks, Walkways, Decks, etc.
  • Expenses Incurred due to Hotel Stays
  • Financial Loss due to Business Interruption

Why Choose Brightway Insurance, a Cole Family Agency

I give you my personal guarantee that you’ll have a great experience when doing business with one of my two Brightway Insurance offices (Palms Springs or Boynton Beach). No matter where you live in the county, from Jupiter to Delray Beach, or from Boca Raton to Wellington, we always have your best interest in mind. Only experienced insurance professionals get the opportunity to be a part of the Brightway Insurance and the Cole Family Agency team. We work together as a team to ensure every client is taken care of like they’re family.

There are tons of insurance agencies in Palm Beach County or West Palm Beach for that matter, but very few give you the personalized service that my agents deliver to their customers every day. At Brightway Insurance, we have access to more insurance carriers than any other third-party agency in Florida. So instead of getting frustrated while you try contacting all the flood insurance companies in Florida for a quote, just pick up the phone and call my team today! We are ready to show you how easy and fun shopping for flood insurance can be in Palm Beach County.

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About Chris Cole

Chris Cole is a local Brightway Insurance Agency Owner, serving the Palm Beach community via his two insurance offices. He joined the Brightway family when he opened his Palms Springs office and acquired his Boynton Beach office in 2014. He is dedicated to serving his local community through his new blog, floridainsurance.tips. This site will be dedicated to providing the residents of Florida relevant insurance news, information, and resources.

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