Flood insurance provides coverage for both your home and your belongings during a flood. However, it doesn’t cover the land where your house is built. Property insurance, on the other hand, also covers both the home and its contents for causes other than flooding.
We highly recommend that you purchase both types of insurance for maximum financial protection. That’s because there is no way of knowing when flooding will hit our homes. Flood insurance doesn’t pay above its policy limits for any losses or damages. Just like any other policy, you should determine how much your deductibles will be. Bear in mind that deductibles affect your rates.
Flood coverage includes the following:
- The structure and foundation of your home
- Plumbing and electrical systems
- Water heaters, A/C systems, and furnaces
- Certain appliances
- Permanently installed cabinets, wallboard, bookcases, and panels
- Window blinds
- Detached garage
- Electronic equipment
- Washing machine and dryers
- Some valuable items like furs and artwork
- Clothing, furniture, and electronic equipment
What Flood Insurance Doesn’t Cover
There are several things that your flood insurance won’t cover. These include the following:
- Preventable mold damage
- Property and items outside your house (e.g. pools, fences, hot tubs, etc.)
- Self-propelled vehicles (e.g. cars, motorcycles, etc.)
- Precious metals, currency, and valuable papers (e.g. stock certificates)
- Financial losses due to business interruption or loss of use of the property
Who Needs Flood Insurance
Whether you’re an owner or a renter, flood insurance is available for those who are in high-risk flood zones. However, it is still recommended for those who live in a low- to medium- risk areas.
Flood Insurance Rates
Your flood insurance rates will vary according to:
- Type of house
- Whether you have a basement or not
- The location of the contents (above or below ground level)
- The building construction
- Location of your house
While it’s already hurricane season in Florida, it’s not yet too late to get protected with flood insurance. Here at We Insure Agency, we empower you with the right coverage to keep your family and your belongings safe.. We can give you free quotes and free consultations through the phone or at our office. Call us at (954) 431-9423 or visit us today!