7 Reasons Why You Need Flood Insurance in Florida yesensure

7 Reasons Why You Need Flood Insurance in Florida

You might think your home won’t get flooded because you’ve never seen. But 99% of counties in the United States were impacted by flooding between 1996 and 2019, according to FEMA. Before passing on flood coverage, here are 7 things you should know:

1. Every home is in flood zone

Flood Events in Florida NOAA yesensure
Flood Events in Florida NOAA

Almost 80 percent of Florida has been identified by FEMA as at risk for serious flooding, according to the Florida Division of Emergency Management (FDEM). Most of this area is under federal and state-certified flood hazard zones. Nearly 50 percent of this area is covered by private flood insurance. Some homeowners use hurricane insurance but private flood insurance usually costs more than double the amount of hurricane insurance. Sign up for Flood and Water Damage Insurance Today What you need to know before you sign up 1. Flood insurance is affordable. You can get a policy for about $600 per year. Most policies provide coverage for only one-fifth to one-half of the structure. You may want to have an additional policy.

2. No homeowners insurance policy covers flooding

This is a big no-no. If you don’t buy flood insurance, you might be OK. A typical home in the U.S. is worth $222,900, so you might be able to get away without flood insurance. But flood insurance isn’t free. In most cases, the premium you pay for flood insurance is roughly equal to your home’s market value, but you’re the one who will have to pay the difference if the insurance policy doesn’t cover your home’s damage. It’s a good idea to purchase flood insurance.

3. Flood policies are affordable

After Hurricane Irma in 2017, you might be a little hesitant to purchase a flood insurance policy because your home wasn’t damaged. You also might be worried about monthly cost. Fortunately, you don’t have to break the bank to secure your home’s future. It’s a very affordable policy. Before purchasing flood insurance, make sure your home is properly insured. Ask the right questions to ensure you purchase the right policy. Compare two or three different flood insurance policies. Ask: Are there fees to process? Are the benefits the same? Is the flood insurance rate lower than what I currently pay? Most policies include a 30 day, free-of-charge claims review.

4. Reduce cost with flood insurance

Flood insurance is a must. According to the National Flood Insurance Program (NFIP) – www.floodsmart.gov, 6.4 million households in the United States (approximately 52 million individuals) have flood insurance through the NFIP. Having flood insurance may cost a little more, but chances are it will pay for itself in a hurry if your house gets flooded. In 2015, the NFIP paid nearly $6.4 billion to over 29 million policyholders. One thing to keep in mind: you have to have flood insurance even if you are not in a flood zone. It is important to know that your premiums may rise if you are in a non-flood zone and try to purchase flood insurance through the private market. Every home is in flood zone Even if you’re located in an area that doesn’t flood, you are still at risk of flooding.

5. Never always rely on federal government to pay for flood damage

Flood insurance is an important protection and the first line of defense against catastrophic property damage caused by flooding, and yet millions of people are underinsured. Flood damage from Hurricane Katrina alone resulted in more than $100 billion in losses. Flood insurance claims are paid by the federal government directly and by insurance companies. This will not protect you from injury or death caused by disasters, such as hurricanes or wildfires, so ensure you have appropriate insurance if you live in an area where disaster strikes. Florida is ranked one of the five states most vulnerable to flooding, according to the Florida Department of Insurance. Many parts of Florida regularly experience flooding that exceeds stormwater drainage capacity.

6. Flood insurance to secure your future

Did you know the Federal Emergency Management Agency (FEMA) estimates that 1,099 Floridians are expected to file a flood insurance claim as a result of Hurricane Michael? Most homeowners never buy flood insurance and many do not know they are living in a flood zone. You’re not alone. More than 2/3 of all flood insurance policyholders in the United States reside in a flood zone. The current Florida flood zones can be viewed here. The below figures from FEMA represent a “best case scenario” and do not include other related losses that may be part of a claim: $278,400 – Cost to rebuild if your home is uninhabitable or your property is worth less than the policy’s cost. $211,300 – Cost of repairs to your home, on average, if your home is not usable. $90,300 – Cost to replace your home.

7. Flood insurance policy can provide immediate financial assistance.

You won’t have to spend too much money to take care of the damage. Coverage from flood insurance can help you pay for things like replacing furniture, appliances, carpeting and drywall, but most of it comes from premiums, so it might be affordable. Content Square 1. Flood insurance can pay for things like replacing furniture, appliances, carpeting and drywall, but most of it comes from premiums, so it might be affordable. Insurance companies don’t cover flooding. Some damage to your home caused by floods is considered “acts of God,” and therefore isn’t covered by insurance. It’s still smart to purchase flood insurance, which can provide comprehensive coverage and protection. Some damage to your home caused by floods is considered “acts of God,” and therefore isn’t covered by insurance.


If you’ve never heard of flood insurance, learn about the need for it. Flood insurance can help you when you need it most.

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