Why Do You Need Flood Insurance?
Federal Law requires homeowner’s with property in flood zone areas or area’s designated as high- risk have flood insurance. Depending on location of the home flood insurance could be required as a condition of the mortgage. Flood insurance is available to homeowner’s and renters and is highly recommended to all living in Florida.
What does Flood Insurance Cover?
- Flood insurance covers the home’s foundation and its support systems.
- Flood insurance covers the home’s contents (your belongings).
- Including appliances.
- It takes only inches of water in your home to cause thousands of dollars in damages.
- Flooding can be caused many ways. It may be from a hurricane/tropical storm or an overflow of inland or tidal waters even a rapid accumulation of rain.
- Flood policies are purchased for a 1 year term.
Premium for flood policies are based on the following factors, amount of coverage, deductible amount, location of home (flood zone risk), foundation type of your home.