Do You Need Flood Insurance Even if You Don’t Live in a Flood Zone?

I don't live in a flood zone. Do I need Flood Insurance?

You know waterfront living carries risk of flooding, but did you know that about 25 percent of all flood claims come from moderate- to low-risk areas?

Every year, thousands of homes flood that aren’t in a designated flood zone.  Because Florida has flat terrain, low elevation and a high water table, realistically, nearly the whole state is a flood zone.

Flood facts

Flooding is the most common and expensive natural disaster homeowners face. Many Florida homeowners don’t realize that standard homeowners insurance doesn’t cover flooding. For flood coverage, you need a separate flood insurance policy.

Flood insurance covers physical losses to the structure of your home, including systems like plumbing, electrical, and HVAC, as well as your personal belongings up to the policy limit.

Floods can result from many causes, such as heavy rains, flash floods, storm surge, ground water rising, rivers overflowing. New land development can change the way water flows, affecting your risk of flooding. Flood damage is extremely costly. According to Floodsmart.gov, just one inch of water can do an average of $25,000 damage to a home.

Why does it cost so much to repair? Because flood waters not only damage belongings like furniture and appliances, they also wreak havoc with the structure and systems of your home. Flooding can also contaminate wells or carry debris that clogs septic tanks. And if flood water comes into your home, mold and mildew may grow on anything the water touches.

Flood insurance options

Homeowners may choose to buy flood insurance two ways, through FEMA’s National Flood Insurance Program (NFIP) or through a private flood insurance company. For many years, the NFIP was the only choice, but new technology has made flooding more predictable, so more private insurance carriers are entering the flood insurance market.

Either option will provide insurance coverage for flood damage, but there are some advantages to buying a flood policy from a private insurer. With the NFIP, coverage is capped at a $250,000 limit—that may not be enough to cover your losses. You can get higher limits with private insurance companies. You’ll also have a 30-day waiting period before your flood coverage goes into effect with the NFIP that you often won’t have with a private flood insurance provider.

Call us for a quote!

If you need a quick and easy flood insurance quote for your home (or your business), give L & M Insurance Group a call at 813-672-4100, or click here for an online quote. Our independent agency writes with many quality insurance carriers for all insurance needs—including, home, auto, flood, and commercial insurance throughout Florida. Let us help you find the coverage you need to protect your most valuable investments: your home, your vehicles, and your business.

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