Flood damage caused by a hurricane isn’t covered by a standard homeowners insurance policy. You will need to buy separate flood insurance to cover any water or storm surge damage from natural disasters. Unfortunately, many homeowners are learning this after the damage from Hurricane Ian. If you live where there is a risk of flooding or hurricanes, you may already be required to maintain flood insurance as a requirement of your mortgage. However, many homeowners were not in Florida and are suffering the consequences now.

What Does Flood Insurance Cover?

Flood insurance policies from the National Flood Insurance Program from FEMA provide coverage for the property and its content. These policies exclude basement floods. For those that want over $250,000 of coverage such as decks or landscaping, you’ll need a separate policy like excess flood insurance from a private insurance company.

What Does Flood Insurance Cost?

The cost of insurance of course varies where your house is located, if it’s a primary residence, and the value of the contents inside. You should purchase insurance, especially flood insurance, well in advance of any storm as it can take a full month to become active. You won’t have an active policy if you live in an area where a warning has been issued when you’re purchasing coverage. And if by chance they do allow you to buy coverage, that insurance claim will be denied.

New State Law Requires Flood Insurance To Be Purchased

As of December 2022, Florida homeowners are required to purchase flood insurance if their property lies in a flood zone and is secured by a federally-backed mortgage. This is the first mandate of its kind in the entire country. This bill was approved nearly two months after Hurricane Ian caused extensive damage and where nearly every homeowner didn’t have coverage. For customers of Citizens Property Insurance, the state’s largest property insurer, all property owners must purchase flood insurance regardless of where their home is located.

Schedule a Free Consultation With Boynton Beach Public Adjusters

Our experienced public adjuster team in Palm Beach County is well-versed in all things pertaining to homeowners and property insurance claims. To ensure that your claim goes seamlessly and there is no delay in getting your settlement, hire our team to do the hard work for you. To learn more about Property Damage Consultants and to schedule this consultation, call 561-451-4700 or use the contact page on our website.

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