Ormond Beach, Daytona Beach, and Palm Coast, Florida
You do not need to live in a designated flood prone area to benefit from the peace of mind that comes with flood insurance. If you have property that could be damaged or destroyed by water, you need flood insurance on top of your homeowners insurance. Why? Simply because homeowners policies do not cover damage from flooding.
To determine the cost of flooding, go to this page to use a helpful calculating tool. If your community participates in the National Flood Insurance Program, we can assist you with understanding how flood insurance works and acquiring a policy. Flooding is usually related to weather conditions and tend to affect very wide areas, so they can be more damaging than a fire or a windstorm.
Private flood insurance vs. the National Flood Insurance Program (NFIP)
In Florida consumers have two options to secure flood insurance for most properties. We have the option of using the National Flood Insurance Program administered by FEMA. Properties eligible for coverage are non-residential structures, 1 – 4 united residential structures and other non-residential structures. Properties that are not eligible are mobile homes, condominiums, properties in non participating FEMA communities and properties with repetitive flood claims.
Private flood coverage is often priced based on the same rates as the NFIP and in most cases are handled by the same claims adjustors. Insurance Companies that write Private Flood Coverage in Florida are often able to offer coverage at slightly lower rates as they do not have to include on the mandatory fees that are associate with NFIP/FEMA program.
How do I know if I am susceptible to a flood loss?
Having your property damaged by a flood depends on where you live as well as other factors such as:
- If and when you receive a flood warning
- Whether you move your personal property to higher ground, or other flood precautions
- The precautions taken in your community such as construction flood controls or sandbagging
What if I do not live in a flood zone?
The truth is, pretty much everywhere in this country could be considered a potential flood zone. Your property might have a lower chance of flooding than those built in a coastal area or in a location near a body of water, but regardless you could still experience flooding.
Sound hard to believe? The truth is that a very dry locale can fall victim to flash floods and hilly locations may be harmed by drainage impact. Deluges or flooding can simply be due to a heavy rainy season that has soaked the surrounding soil to the point of total saturation. It is a wise choice to protect yourself from the potential of a flood loss no matter where you live, especially in Florida where the weather can be unpredictable.
Why not just depend on help from the government?
It is never a good idea to assume that if your area floods that it will be declared a disaster area. And even if it is deemed a disaster area, the assistance given by the government is not free money. If you qualify for assistance, it will come in the form of a loan. Flood insurance is definitely a more affordable and valuable alternative to going deeply into debt to restore your property.
Let Mitchell Noel help you with detailed information on the National Flood Insurance Program so you can stay secure in case of flooding. Contact us today.