Dealing with floods is an unfortunate reality for many people living in Florida. The potential of flooding due to hurricanes, tropical storms, and heavy thunderstorms is a real threat each year. Staying proactive by purchasing flood insurance is important in protecting your investment and giving you peace of mind. Working with an insurance agency can help you determine the best options available to meet your needs while also staying within your budget.
Here are a few of the main reasons why insurance coverage for flooding is essential if your home is in a flood zone.
Peace of Mind
A flood can easily happen at any time and lead to widespread damage throughout your home. Even only a few inches of floodwater can cause tens of thousands of dollars in damages. It’s also important to know that a homeowners insurance policy doesn’t cover the damages caused by flooding. On the other hand, investing in a separate policy for flood insurance will protect your property while also providing you with much-needed peace of mind.
Required by Lenders
Insurance for flooding is a requirement from the vast majority of lenders if any new home is built in a high-risk flood area. Purchasing insurance for floods protects the investment of your new home, and it’s necessary until the mortgage is paid off. However, it’s often a good idea to buy flood insurance in even low to moderate risk zones due to the potential chance of flooding for anyone living in Florida.
Cost-Effective Option
Another reason to consider insurance for flooding is that the cost of this protection is well worth the price. Typically, the average cost of flood insurance in Florida is around $500 per year. The exact cost of insurance is based on a variety of factors, such as the location of your property, the type of coverage, the value of your home, and its age. Comparing numerous offers between insurance providers is always a smart idea in helping you find the most affordable coverage that best meets your needs.
Better Choice Than Disaster Assistance
Receiving federal disaster assistance to cover property damage isn’t always a guarantee if your home experiences flooding. Disaster assistance in the United States is dependent on the President declaring a national disaster in your area, which is never a guarantee that it will happen. Federal assistance differs from insurance in that it’s a low-interest loan that’s available for you to borrow and pay back over time. Investing in insurance for flooding is a much safer and less costly option.
What Will Flood Insurance Cover?
Understanding what’s covered by flood insurance is important if you are in the market for this type of insurance. Obtaining coverage for flooding will ensure you have protection for your home and its foundation while also covering the electrical, HVAC, and plumbing systems. Other items included in an insurance policy for flooding are built-in appliances, permanently installed carpeting, paneling, bookcases, cabinets, and window blinds. Debris removal is also covered by this insurance.
What Isn’t Covered by Flood Insurance?
Insurance for flooding does have some limitations, as it won’t cover any damage caused by mold, moisture, or mildew that can be avoided or if it’s not related to the flood. The cost of temporary housing and the loss of use or access to the property is also not covered. Any property or belongings that are outside of the insured home aren’t covered, such as patios, decks, fences, swimming pools, and other items. Any currency or precious metals within your home isn’t protected with this insurance. Reaching out to your insurance agency is always a good idea to learn about the details of your policy.
Why You Should Choose an Insurance Agency for Finding Flood Insurance
Trying to search for insurance coverage on your own can often be a time-consuming experience for most people. Partnering with an independent insurance agency is a great way to eliminate all of the work while making it possible to compare numerous options to find the best coverage at the right price. These insurance professionals will work on your behalf to find you top-quality coverage to ensure your home is well-protected against flooding.
Contact Wellcovered Insurance to Learn More
Wellcovered Insurance is an insurance agency in Florida that works with more than 30 insurance carriers throughout the nation. Our team works with numerous clients living in Seminole and Volusia County. We remain one of the top-rated insurance agencies listed on Google Reviews, as providing excellent customer service is always our top priority.
Our staff members will always work with you in comparing all of your options to help you find the best insurance to meet your needs. We specialize in many types of insurance, whether you need property, flood, auto, boat, business liability, and much more. Our insurance team is always available to answer any questions, and we will return your phone calls as soon as possible.
You can easily receive an auto quote in 15 minutes, while it only takes one to two business days to receive home quotes. Keeping active in the local community is also important, as we are proud members of the Deland Breakfast Rotary and the West Volusia Regional Chamber of Commerce.
Reach out to Wellcovered Insurance today to learn more about our many insurance options!
