Why do you need Flood Insurance in Florida?

Majority of Florida state is under constant threat of flooding, especially the cities on the coastal bay. Your standard home insurance policy does not cover destruction caused by floods. You would have to purchase a separate flood insurance policy to protect your home from floods.

Further on, it has been estimated that about 250,000 people will suffer from increased flood insurance rates in Florida. Even those who are at a distance from the coastal area will see the rates increasing. Even after increasing rates, it is important that every homeowner purchase a flood insurance policy together with a home insurance policy. We highlight some of the reasons below:

  • Florida is the most vulnerable state to flooding in the country as it stands just a couple of feet above sea level.
  • Flooding are quite common here and cause great destruction to properties, completely damaging the interiors of your property.
  • The rebuilding and replacement costs of a flood-affected building or home are quite high. Having a flood insurance policy would ease the burden on you and cover the damages.
  • The costs involved in flood damage are building repairs, drywalls, drying out costs, damaged exteriors like windows and doors, and also the temporary accommodation costs for you and your entire family.
  • It is important to think about the advantage of having flood insurance policy which will give you a good coverage ratio against damages done to your house hold appliances.

The most frequently asked question after people realize the importance of having flood insurance is what it would cost them. Well, the rates vary depending on different factors like location, size, and age of your home. Homes in higher risk areas are charged a higher premium than those in lower risk areas.