The Importance of Flood Insurance

Flooding is the most common and most costly natural disaster in the United States. Floods can occur for several reasons including storm surge from tropical storms and hurricanes, river overflow, or even heavy rainfall. Every home is at some risk of experiencing flood damage, and surprisingly, only a small percentage of homes are covered by flood insurance.

What is Flood Insurance?

Many homeowners believe their home insurance policy covers flood damage; however, a standard home insurance policy does not cover damages caused by floods. A separate flood insurance policy is needed to protect your home and possessions should they be damaged from rising water.

You do not need to live in a flood zone to experience flood damage. In fact, FEMA reports roughly 25% of all flood claims come from moderate to low-risk areas and living in Florida, you are at a greater risk to experience flood damage.

If you live in Florida, you need flood insurance.

Although Florida is known as the “Sunshine State”, it is at an increased risk of experiencing floods. According to the National Flood Insurance Program (NFIP), 8 out of 10 households are not covered by flood insurance. Here are three reasons why you need flood coverage as a Florida homeowner:

1. The state of Florida has been hit with the most Hurricanes in the United States. According to NOAA, Florida has been hit with the most hurricanes in recorded history.

2. Florida has mostly flat terrain and is predominately at low elevation and when waters rise, it can spread far and wide.

3. With Florida having the second-longest coastline in the U.S. with 8,436 miles along the Gulf of Mexico and the Atlantic Ocean, the state at an elevated risk of experiencing floods due to rising tides.

These are just a few reasons why flood insurance coverage is a good idea as a Florida Homeowner. Now, let’s talk about obtaining flood insurance to protect your home and belongings.

Obtain Flood Coverage from Florida Peninsula

Without protection in place, you and your family can be set back thousands of dollars and be forced to wait on repairs. Obtaining flood coverage is your best protection. Flood insurance is currently offered through the NFIP and private carriers like Florida Peninsula. We offer a certified flood endorsement to eligible policyholders, replacing the need for a standalone flood policy. A standard flood insurance policy provides coverage up to $250,000 for your home and up to $100,000 worth of coverage for your personal belongings. However, Florida Peninsula’s endorsement exceeds the normal limits of a standalone flood policy by providing coverage limits up to $2,000,000 for your home, and up to $1,000,000 for your personal belongings. We encourage you to take the time to understand your flood risk and obtain flood coverage. For more information on obtaining flood insurance with Florida Peninsula, contact your agent or give us a call at 877-229-2244.

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