Florida is a great place to live, but it’s also prone to severe weather. One way to keep your home and property financially protected against some of these natural disasters is to purchase flood insurance. Working with an insurance agency is a great way to learn all about the details of flood insurance coverage while comparing prices to help you find the best choice for your needs. An insurance agency can easily compare quotes from all of the major carriers while saving you a lot of time and effort.
Here is an overview of the main things to consider about buying flood insurance in Florida.
What All Does Flood Insurance Cover?
Flood insurance will cover any physical damage caused directly by flooding to your home or personal property. Typically, you can expect this insurance to cover the foundation and structure of your home, air conditioning system and furnace, built-in appliances, electrical systems, plumbing, garage, and any detached structures. The National Flood Insurance Program (NFIP) will provide up to $250,000 in coverage for your home and up to $100,000 for your personal belongings.
How Are Flood Insurance Rates Calculated?
The cost of flood insurance in Florida is based on a variety of factors. These include the location, elevation, and flood zone of your house. Other factors include the type and amount of coverage you buy and the age of your home. Partnering with an insurance agency to compare coverages from multiple providers is a great way to find the most affordable insurance.
Do I Need Flood Insurance If I’m in a Low-Risk Area?
Florida is divided into different flood zones. These areas can range anywhere from low-risk to high-risk zones. Flood insurance is often a requirement for high-risk areas, but it’s also a good idea to buy insurance even if you live in an area that’s considered low-risk. The cost of flood insurance is less costly in low-risk areas, and it will help you rest much easier at night.
What Are the Coverage Options?
Two different types of flood coverage are available for homeowners. One policy will cover the structure of your house, while the other covers personal property. Purchasing both policies is often recommended to ensure you are well-protected. You can also reach out to an insurance agent to discuss the details of your coverage to make sure you are receiving the most optimal coverage to meet your needs.
How Does the Claims Process Work?
Filing a claim on your flood insurance policy can often be stressful if you try to do everything on your own. However, an insurance agency can guide you throughout the entire claims process to ensure everything happens smoothly without any mistakes. All you have to do is report your loss to an insurance agent, and they will begin the claims process. Taking photos and videos of the damage is also important in documenting your claims before a flood insurance adjuster visits your home.
When Does Flood Insurance Usually Go Into Effect?
The waiting period for flood insurance is usually around 30 days for most policies, especially if you get insurance from the NFIP. Sometimes you can get flood insurance in one or two weeks from private insurance companies. The additional waiting period is designed to prevent people from purchasing insurance at the last minute before a major flood. An insurance agency can work with you to help you get insurance in a timely manner.
What Does Flood Insurance Not Cover?
Understanding the details of your flood insurance policy is key to knowing what is and isn’t covered. For example, flood damage due to termites and mold and sewer line backups isn’t covered in most policies. Any financial losses due to business interruption at your home won’t be covered under your insurance policy. An insurance agent can go over all of the details of your policy to help you understand your coverage.
How Can I Lower the Cost of My Flood Insurance?
Finding ways to reduce the cost of your insurance is often a priority for many homeowners. You can decrease the cost of flood insurance in various ways, such as by getting your elevation certificate, installing flood venting, or finding out if you qualify for flood zone removal. Raising your deductible can also help lower your insurance costs. An insurance agency can shop around with multiple providers to help you find the best coverage available.
Contact Wellcovered Insurance Today for All of Your Insurance Needs
Wellcovered Insurance is one of the top agencies partnering with more than 30 insurance carriers throughout the country. Our experienced team can help you get the best flood insurance available. We also offer many other insurance options, whether you are looking for boat, RV, home, auto, commercial property, motorcycle, and many more policies.
Always providing the best possible customer experience is a top priority. Our team is more than happy to answer any questions and help you choose the best policy to meet your needs. You can even drop by our office if you need to make changes or have any questions about your insurance coverage.
Staying active throughout the community is also important to us and we are proud to be long-time members of the West Volusia Regional Chamber of Commerce and the Deland Breakfast Rotary.
Feel free to give Wellcovered Insurance a quick call or send us a message today to get in touch with an insurance agent!