You may not realize it, but your homeowner’s insurance does not cover damage from floods. For coverage from damage caused by rising water, you need flood insurance. Old Town Insurance LLC of Florida wants to help you understand the importance of obtaining a flood insurance policy to supplement your homeowners' insurance.
Many people avoid purchasing specialty insurances like flood insurance because they think it can’t happen to them. Unfortunately, floods happen much more frequently than people think they will. In Florida, they occur due to a multitude of reasons:
Here’s the horrible fact: homeowners’ insurance covers only the flood by burst pipes and only so long as it is evident you conducted appropriate maintenance. The storms and the sewer back up require flood insurance.
The US government through the Federal Emergency Management Agency created the National Flood Insurance Program (NFIP). This program studies the topography of the US and sets the criteria for floodplains and gathers and analyzes 100-year flood data. It determines within which area each plat lies. It also created and backs the insurance program that protects homeowners nationwide. If your community participates in the NFIP, you can purchase this federally backed insurance. If your community does not, you can purchase a commercially available flood insurance policy. NFIP policies provide a flexible method of covering your property against flood damage. You can obtain a policy that covers only the structure, only the contents or both the structure and contents. These policies are available to homeowners and renters.
Old Town Insurance LLC of Florida can only fit so much information into a blog post, but we encourage you to visit the NFIP guide to flood insurance at FloodSmart.gov. We also encourage you to directly contact us. We’ll sit down with you to determine your flood insurance needs and help you get the policy you need.