While a standard home insurance policy can cover water damage from a burst pipe, it does not cover damage caused by floods. Only flood insurance can do that.
Flood means a general and temporary condition of partial or complete inundation of two or more acres of normally dry land areas or two or more properties, at least one of which is the policyholder’s property, for example, flooding in your yard, and in your neighbor’s yard or in the public street meets the requirement for flooding under the policy. Flooding of just one property is not considered to be a covered flood under a NFIP policy unless the area of water displacement is at least two acres. The flood must come from:
Flooding is a serious risk in Florida due to the state’s geography, the frequency of storms, and proximity to water, both inland and on the coast. Insurance to cover this risk is not typically provided in a homeowner’s policy, so it must be purchased separately.
Floods can happen anywhere — just one inch of floodwater can cause up to $25,000 in damage. Most homeowners insurance does not cover flood damage.
Flood insurance is a separate policy that can cover buildings, the contents in a building, or both, so it is important to protect your most important financial assets — your home, your business, your possessions.
You can buy Flood insurance thru private market or through FEMA National Flood Insurance Program (NFIP). They are the biggest but not the only provider of flood insurance.
Private Insurance companies offer enhanced or excess flood protection which provides limits above $ 250,000 or the NFIP coverage amount.
The NFIP provides flood insurance to property owners, renters and businesses, and having this coverage helps them recover faster when floodwaters recede. The NFIP works with communities required to adopt and enforce floodplain management regulations that help mitigate flooding effects.
Flood insurance is available to anyone living in one of the 23,000 participating NFIP communities. Homes and businesses in high-risk flood areas with mortgages from government-backed lenders are required to have flood insurance.
Our Team of Agents can assist in finding the proper coverage you need.
Ibanez Insurance Inc
8900 SW 117th Ave, Kendall, Florida 33186, United States
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