Flood Insurance for Florida Home Owners

Simple enough — flood insurance protects against property damage caused by flooding. But your standard homeowners policy doesn’t protect against flooding! Learn here about the essentials of Florida flood protection insurance:

Essentials of Florida flood insurance

Your flood insurance policy is going to protect you direct and indirect damage to your home and property caused by water and water-borne debris. If you live in a place that’s prone to torrential downpours, dangerous weather events, accumulating surface water, or exposure to ocean waves and storms, flood insurance provides important protection.

Florida flood insurance coverages

At Lee Crane, our commitment to personal consultation will help you put together the flood coverage that’s right for you, including coverage for:

• Your property and outbuildings
  Your policy will cover the the exterior and interior of your structure plus any detached buildings encompassing up to 10% of your total property against direct physical loss.

• Optional coverage for personal property
  You can also set up your coverage to include protection for items of personal possession including furniture, appliances, window covering, and much more.

• Protection for condo owners
  If you’re a condo owner, flood insurance will also cover your share of the losses caused by floods, including what the condo association charges you for your share of the bill ro repair and replacement.

• Protection against compliance costs
  If a state or local floodplain management policy, ordinance, or law affects how you’re required to repair or rebuild your structure, this type of flood insurance will pay up to $30,000 in compensation.

Why not standard?

Standard property insurance ALWAYS excludes protection against flood damage. One of the few times water comes into play in a standard policy is when wind or a fallen tree allows rain to get in. Usually, however, when water comes into play as a cause of home damage, flood insurance needs to be involved.

Let’s say, for example, that a storm surge floods your waterfront home — that’s a situation that flood insurance can help. The same is true in situations where a rising water table causes basement seepage to occur.

There are a lot of reasons, then, for owners of homes not even located in high-risk areas to consider purchasing flood insurance. In fact, a significant percentage — up to 20% — of flood damage occurs in homes that are NOT in high-risk areas!

What that means is that, even if your home mortgage company doesn’t require you to have flood insurance, it’s a very good idea to consider it.