Are you moving to Florida, or a new homeowner? You may be wondering what types of insurance and protection you need if you live in the Sunshine State.
Due to the threat of hurricanes, catastrophic flooding can be a major problem. Even if you don’t think your home will succumb to flooding, it’s always a risk.
Is flood insurance required in Florida? Read on to learn more about flood insurance requirements and flood insurance law.
What is Flood Insurance?
Flood insurance is a protection plan that you have in place in case you suffer home damage from flooding. This type of insurance can also help you restore your belongings that are damaged or lost in a flood.
If you live in a flood zone, flood insurance may be required. This depends on your local codes and the state in which you live.
How to File a Claim
So your home has been destroyed by a flood. What do you do next?
Take pictures of everything you possibly can and use FEMA to file a claim. Since flood insurance is a national program, you don’t have to find a flood insurance contractor.
The National Flood Insurance Program, or NFIP, will assist you with getting back on your feet. You will need to prepare for an insurance adjuster to come out to your property and inspect the damage in person.
Be sure to file your claim as soon as possible. Your policy may not cover things like mold damage if you wait too long and it’s deemed your fault.
You should also apply for disaster assistance through FEMA. If you don’t have anywhere to stay, they may be able to provide things like temporary housing.
New Florida Flood Insurance Law
Following the devastating effects of Hurricane Ian, flood insurance became mandatory even in non-flood zones in Florida. Although the law is widely contested, more people will have protection from the far-reaching effects of deadly hurricanes.
Is Flood Zone AE bad? Should you need flood insurance if you’re in Flood Zone AE? Unfortunately, you don’t have much of a choice.
Depending on where you are located, you may not need flood insurance right away. The new flood insurance policy is rolling out in phases until 2027.
Cost of Flood Insurance
The cost of flood insurance is variable, depending on the type of flood zone you live in, and the size of your property. However, expect to spend anywhere from a few hundred to a thousand dollars annually for policy coverage.
Even if flood insurance isn’t mandatory where you live, it may be worth the investment. You never know when a flood can cause thousands or even tens of thousands of dollars worth of damage.
Is Flood Insurance Required in Florida?
So, is flood insurance required in Florida? The short answer is, yes. Even if you live in a non-flood zone, you may still be required to buy flood insurance for your property.
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