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Florida Flood Insurance


   Water damage from storms, floods, rising tides, and tidal surges is the largest and most damaging of all types of damage. Water damage in a home can cost tens of thousands of dollars to repair. Flood insurance is an important option in Florida to protect against the massive losses that flooding can cause.

A Florida flood insurance policy would only cover the flooding caused by natural disasters.  You need to add contents coverage separately. For homes, the National Flood Insurance Program covers a maximum of $250,000 in building damages and $100,000 for contents. Coverage amounts are higher for commercial properties. The government recently unveiled a new system for insurance pricing, called Risk Rating 2.0, which could lead to higher premiums for many in Florida. To figure out exactly how you’re affected, talk to an insurance agent. Renters can take out flood insurance policies to protect their possessions. Renters’ insurance alone usually does not cover flood damage, according to FEMA. Those who own large properties, they can receive a maximum of $500,000 in building coverage and $100,000 in coverage for the contents of the property.

There are proactive ways for you to protect your home. Homeowners can engineer their yards to absorb stormwater or direct it away from their houses. Swales, berms, and permeable garden beds, like mulch instead of concrete, can limit flooding.Before a storm bears down, take pictures and videos of all your rooms. Having proof of what it looked like will help you file an insurance claim. Look into getting an Elevation certificate it will inform you of how much at risk you are to flooding and could also help lower your Flood Insurance Premium.

Floridians are currently battling rising Flood Insurance premiums on top of rising Home Insurance Premiums. Home Owners are going to see more fluctuations in flood coverage than before and this means looking into the private market rather than the NFIP will be the best route to go for most of Florida's Homeowners.