Flood Insurance in Florida
Cronin Insurance insures houses, condos, and commercial properties for
Flood Insurance in Florida. When water comes under your door and causes damage to your building and/or personal property, flood insurance will cover your damages. Most floods occur from rising tides and standing water. In Florida, hurricanes cause a lot of flooding.
Not all water damage is Flooding
Water that blows into your home from a broken window or leaks through your roof is not considered Flood damage. Insurance adjusters will tell you that Wind driven rain is the culprit. So these types of claims would not be paid under a flood insurance policy. You would claim these on your regular Home policy. Similarly, water damage from a broken pipe or an overflowing toilet would not be considered a Flood. This would also be claimed under your regular HO policy. To claim under the Flood policy, water must leak into your house from the outside- usually under your doors.
Do I need Flood Insurance?
If you live in Florida, you need Flood insurance. We are located in hurricane alley. Every Atlantic hurricance is pointed at Florida. Some miss us, many hit us. Along with the intense winds, storm surges can raise tides 20 feet at high tide. Torrential rains can cause flooding well inland from the coast. There is no coverage for this kind of flooding under a regular home policy. Many homeowners are required by their mortgagees to buy a Flood policy because they live in a high risk zone. They are the lucky ones. Hurricane Harvey caused billions of dollars of flood damage in supposedly low risk zones in Houston. These people could only get small loans from FEMA. Many will never be able to rebuild. You need to insure against Floods.
Is Flood Insurance Expensive?
No, Flood insurance for most people is inexpensive. The average policy in Florida costs less $600 a year. If you are in a low risk zone, its even less. Flood insurance is going up, though. Because of Hurricanes Katrina, Sandy and Harvey, the National Flood Insurance Program (NFIP) had to borrow money to pay all the claims. Congress has called for "Actuarily sound" rates. This means they want the NFIP to charge enough premium so they don't have to borrow any money in the future. This will cause pressure on Coastal homes that are paying way too little now compared to the risk they face. For the rest of us, Flood insurance will remain affordable.
Floridians turn to Cronin Insurance Agency for Flood Insurance when:
- They acquire a new house.
- They are concerned about their "low-lying" house.
- They worry their house is near a canal, lake or other body of water.
- They fear flooding from a major hurricane.
- They have had it with "Force-placed" flood insurance from their mortgagee.
Our Flood insurance policies are reasonably priced, cover both your dwelling and your personal property and are acceptable to all mortgagees.