A Guide to Flood Insurance for Floridians

A Guide to Flood Insurance for Floridians

Living in a beautiful tropical state like Florida means three things: sunny days, beaches, and hurricanes.

After Hurricanes Debby, Helene, and Milton hit Florida, numerous homeowners discovered that their home insurance didn’t cover as much as they thought. As a Floridian, it’s important to understand exactly what’s at risk when a storm comes. But, where homeowners insurance ends and flooding insurance begins is often misunderstood, along with the importance of covering your home in any circumstance.

In this quick guide, we’ll review the most important things to know about flood insurance to help you decide whether it’s right for your home.

What Exactly Does Flood Insurance Cover?

Hurricanes are one of the most common causes of major water damage in Florida, but most homeowners insurance policies don’t cover the biggest threat – flooding.

While falling trees and flying debris are covered by homeowners insurance, many water-related issues caused by hurricanes, like rain seeping into the foundation or pooling in your garage or sunroom, fall under flood insurance.

Flood insurance generally covers damage to the building and your personal belongings that results from external water entering your home, like excess rain accumulation or overflowing bodies of water. The foundation, walls, and electrical systems in your home will be covered, along with your appliances, furniture, clothing, and other valuables.

However, flood insurance does not usually cover damage to vehicles, landscaping, pools, or other property that’s outside of the home but on your land. It may also exclude basements, crawl spaces, and garages, depending on your policy.

It also wouldn’t apply to water damage and flooding caused by physical damage to your property, like a shattered window or damaged roof. That would fall under homeowners insurance.

With so many specifics to account for and possible gaps in your coverage, adding flood insurance to an effective homeowners insurance policy can help ensure your home and valuables are financially covered, taking some of the stress out of watching the hurricane tracker.

Who Needs Flood Insurance?

When a hurricane comes to Florida, coastal homes and properties on a body of water usually experience the most damage due to storm surges or flooding lakes and canals. These properties generally lie in high-risk flood zones, making flood insurance a no-brainer. In fact, some mortgage lenders may even require you to purchase flood insurance when buying a high-risk property.

However, regardless of the flood zone your home falls into, any property is at risk of flooding due to a major hurricane. If your property has poor drainage, unmanaged landscaping with holes or uneven ground, or sits on ground level, heavy rain can cause water to accumulate and cause damage that’s not covered by your home’s standard policy.

Fortunately, low-risk flood zones have lower flood insurance rates, providing you peace of mind for less. We recommend speaking to an insurance agent to make sure you obtain proper coverage.

Understand the Risks Before Buying Your Next Great Florida Home

If you’re new to Florida, hurricanes can be intimidating. However, with the right precautions, risk assessment, and insurance coverage, you can minimize the stress of hurricane season and enjoy the beauty of South Florida year-round.

At Great Florida Homes, our goal is to provide you with all of the important information you need to confidently choose your new home. We’ll make sure you understand the flood risks your property faces, help you find ways to minimize them, and point you toward effective flood insurance, whether you need it or not.

Whether you’re new to Florida, switching coasts, or just moving a few cities away, the Great Florida Homes team can help you find your dream home.

Get in touch with us today to start your search.