Florida homeowners face a variety of water-related risks...
Florida homeowners face a variety of water-related risks, from hurricanes and tropical storms to heavy rainfall and rising water. One of the most important distinctions for homeowners to understand is that standard homeowners insurance generally does not cover flooding caused by rising or accumulating surface water.
That is where a separate flood insurance policy may provide important protection.
What Is Considered Flood Damage?
Flooding generally involves water covering normally dry land. Examples may include water entering a home because of:
- Heavy or prolonged rainfall
- Overflowing lakes, rivers, canals, or other bodies of water
- Storm surge
- Rising or accumulating surface water
- Certain types of mudflow
The exact definition of a covered flood and the coverage provided depend on the specific flood insurance policy.
What About Water Damage Covered by Homeowners Insurance?
Not every type of water damage is considered a flood.
Depending on the policy and circumstances, homeowners insurance may provide coverage for certain sudden and accidental water losses, such as some plumbing-related incidents.
For example, water damage caused by a sudden plumbing failure is different from water entering a home because the surrounding neighborhood flooded after heavy rainfall.
The source and cause of the water can make a significant difference in determining which policy may respond.
Do I Need Flood Insurance If I'm Not in a High-Risk Flood Zone?
Flood risk is not limited to properties located in designated high-risk flood zones.
Florida's heavy rainfall, low elevations, drainage issues, tropical weather, and extensive coastline and waterways mean flooding can occur in many different areas.
A mortgage lender may require flood insurance for certain properties, but homeowners can also choose to purchase flood coverage even when it is not required by their lender.
What Does Flood Insurance Cover?
Depending on the policy selected, flood insurance may provide coverage for:
- The home or building
- Electrical and plumbing systems
- Heating and cooling equipment
- Certain appliances
- Flooring and other permanently installed property
- Personal belongings when contents coverage is included
Coverage limits, deductibles, exclusions, and settlement provisions vary by policy.
NFIP vs. Private Flood Insurance
Florida property owners may have access to flood insurance through the National Flood Insurance Program (NFIP) as well as private flood insurance companies.
These options can differ in available coverage limits, deductibles, eligibility requirements, waiting periods, and additional coverage features.
Rather than assuming one option is appropriate for every property, homeowners should compare the available choices based on their individual property and insurance needs.
Review Your Flood Protection Before a Storm
Waiting until a hurricane or major storm is approaching may be too late to obtain coverage for that event. Flood policies can have waiting periods or other restrictions before coverage becomes effective.
Reviewing your flood exposure ahead of time gives you an opportunity to understand your options before you need the coverage.
Compare Florida Flood Insurance Options
Insurance Scout Partners helps Florida homeowners compare flood insurance options and understand how flood coverage fits alongside their homeowners insurance.
[Compare Florida Flood Insurance Options →]
This article is for general educational purposes only. Insurance coverage varies by policy and insurance company. Coverage is subject to the terms, conditions, exclusions, limits, and deductibles of the applicable policy.