Protect What Matters Most

Florida, known for its beautiful beaches and sunny weather, is unfortunately prone to flooding due to its flat terrain and proximity to the sea. This makes flood insurance a crucial consideration for homeowners in the Sunshine State.

Flood insurance typically covers damage caused by external water entering a covered structure. A variety of conditions, such as excessive rainfall, storm surges, blocked storm drainage systems and overflow of bodies of water can cause these incidents. In many cases, a standard flood insurance policy may include the following parts:

• Flood insurance building coverage, which can help pay for repair or rebuild costs should floodwater damage structural elements, such as walls, floors, plumbing and electrical systems, and foundations
• Flood insurance contents coverage, which may provide compensation if a property owner’s belongings, such as furniture, clothing and electronics, are damaged by floods.

The calculation of flood insurance premiums typically involves several factors, such as the following:

• Location—The location of your property plays a significant role in determining risk levels, and therefore premiums.
• Structural details—The age and construction of an insured building is also a factor, as older structures or those not built to modern standards may incur greater costs.
• Property value—The estimated rebuild cost of a structure and the value of its contents may influence rates.
• Policy specifications—The deductible, coverage limits and other details of flood insurance may greatly impact premiums.

The cost of flood insurance in Florida can vary greatly depending on various criteria, including the topography of an area, the physical specifications of a structure and its assessed value. It’s important to note that flood insurance is not typically included in standard homeowners insurance policies and must be purchased separately. Homeowners may be able to get coverage through the Federal Emergency Management Agency’s National Flood Insurance Program, as well as through private flood insurance companies. Where a policyholder gets their coverage may also impact their rates.