When living in Florida, it is important for you to invest in flood insurance. As flooding can happen at nearly any point of the year, protecting your property is crucial. At Frederick Insurance, it's all about helping you find the right kind of insurance for your personal property needs. When you own a home, flood insurance is one insurance policy you need to take advantage of.
Florida Flood Insurance Requirements
Flooding is more common in some regions of the state than others. Due to this, certain communities may require you to have flood insurance before a mortgage approval. If you're looking to purchase a new home, it is essential to find out what kind of insurance requirements are in place for the home's location.
There are different flood zones found within the state. The National Flood Insurance Program and FEMA worked together to create these flood zones. The V zone is the most likely to sustain flooding (such as properties located right on waterways and other danger areas).
Flood insurance is required for any property located within a V zone. The A zone is also an area that is at a greater risk for flooding than other areas of the state (although, not as high of a risk as V). You should check with the mortgage provider and any home owner's associations within the area to determine if flood insurance is mandatory there as well (either way it is highly recommended).
What Does Flood Insurance Cover?
Regular home owner's insurance may provide some basic coverage from the rain. However, in the event of flooding caused by elevating waterways, such as oceans, rivers, lakes, or other bodies of water, you need flood insurance. Flood insurance is offered directly through the National Flood Insurance Program and is federally regulated.
Protecting your home from possible flooding in the state of Florida is important. That's why Frederick Insurance is here to provide you with flood insurance options. Reach out to our agents for more information on starting a policy and to have your questions answered.