![]() ![]() Who Needs Flood Insurance?įloridians living in flood zones need flood insurance. Depending on where you live, your bank may be able to legally purchase flood insurance for your property and send you a bill. Your bank may require you to purchase flood insurance prior to giving you a mortgage. Home and renters insurance cover water damage caused by non-flood events, such as a burst pipe. In recent years, inland flooding has caused more hurricane-related deaths in Florida than storm surge.įlorida averages 45 flood events a year, with annual property loss of $86 million, according to the Division of Emergency Management. Rivers, streams, lakes, and canals have all flooded during hurricanes or big rain events. ![]() Flooding is Not Just a Coastal Problemįorty-nine of Florida’s 67 counties are at high-risk for flooding. ![]() The real estate company, Zillow, and the environmental nonprofit, Climate Center, conducted a 2019 study that indicates that over the next three decades, thousands of Florida homes- or about $3.38 billion worth of residential real estate-are at risk for serious flooding. Last year, record amounts of rain fell as late as December, disrupting holiday travel. During these six months, we get about 70 percent of our annual rainfall. Florida’s Official Rainy Seasonįlorida also has a significant rainy season, running from May 15 to October 15. Shifting atmospheric conditions, rising sea levels, and coastal erosion all contribute to this issue. ![]() A University of Florida study found that flooding along the US’s southeast shoreline increased at 0.75 an inch per year from 2011-2015, as compared to the global rate of 0.1 inch per year. We’re committed to working with you to ensure you receive the right benefits at the right time.Tidal flooding, also known as “sunny day flooding,” has become a major issue for Miami, Key Largo, Fort Lauderdale, and other coastal communities. Talk to one of the dedicated agents at G Stan Kearby Insurance Agency, Inc. to determine which flood insurance options are best for you. If you do not buy a policy, then you will not qualify for such assistance in the future. Some lenders require mortgage holders to buy flood insurance regardless of whether they live in a high-risk zone.Ĭoverage is required if you live in a high-risk flood zone and have ever received disaster assistance through FEMA or the U.S. If you live in a designated high-risk flood zone, and you have a mortgage backed by a federally insured lender, then you will have a coverage requirement. Many homeowners are required to buy flood insurance: There is also coverage for debris removal costs, loss avoidance and cost of compliance. Non-Residential Businesses and Buildings: $500,000 Structure/$500,000 Contents Other Residential Buildings: $500,000 Structure/$100,000 Contents One- To Four-family Residential Addresses: $250,000 Structure/$100,000 Contents NFIP plans will offer coverage up to the following limits:
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