6 Reasons You Should Purchase Flood Insurance

Posted on :

21 January 2022

Author :

Jennifer Sousa

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Flooding is a real threat to Florida Homeowners

There are so many perks to living in Florida. There’s the sunshine, the sandy beaches, the 800,000 acres of state parks and hidden springs that can be found all over. Not to mention the great seafood, popular theme parks and the Manatees. But living in paradise is not without risk. We live on a giant peninsula surrounded by gulfs and ocean. There are thousands of lakes and rivers throughout the interior of the state. Flooding is a real threat to Florida homeowners, especially during Hurricane Season.

Floods Are the Nation’s Number One Natural Disaster

We’ve all heard homeowners say “I don’t need flood insurance because my home is not in a flood zone”, but the truth is floods are the most common natural disaster in the United States and can happen anywhere.

Florida Ranks Third For Flood Claims

According to FEMA’s January 31, 2017 loss statistics, Florida ranks third in the nation for flood claims behind number one Louisiana and number two Texas. Since 1978 Florida homeowners have filed 255,528 flood claims with losses over $4 billion.

Standard Homeowners Policies Do Not Cover Flood Damage

The standard homeowners policy in Florida does not cover flood damages. If you are in a high risk zone, your mortgage company requires you to carry flood insurance, but 20% of flood claims come from outside of the high risk flood zone.

Private Flood Endorsements Are Offered by Many Carriers

Many carrier now offer flood endorsements that can be added to your standard homeowners insurance policy for an additional premium. Contact your insurance agents today to determine what options are available to you.

An NFIP Preferred Risk Policy is Available at an Affordable Rate

A Preferred Risk Policy (PRP) through the National Flood Insurance Program (NFIP) is an affordable policy offered to homes in low to moderate risk zones. Coverage is available for up to $250,000 on the dwelling and $100,000 on contents. These policies are typically under $575 per year depending on the coverage selected.

Act Quickly, There is a 30 Day Waiting Period and Hurricane Season Begins June 1.

Beware, many flood enforsements and standalone policies are subject to a 30 day waiting period, so it is important to be sure to purchase your coverage now. Don’t be one of the many homeowners that had to learn the hard way. Visit our website today to find an agent in your area to obtain a flood insurance quote.


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