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Florida Flood Insurance

According to the National Flood Insurance Program, flooding is ranked the #1 natural disaster in the U.S., as floods occur in and cause damages in all 50 states. Purchasing a flood insurance policy through IOA Tampa Bay ensures critical coverage of your assets in the event of a loss.

Florida flood insurance provides coverage for destruction and financial devastation caused by floods. Although it may not seem like much, even a few inches of water can cause serious damage resulting in thousands of dollars in repair and replacement costs.

Although it may not seem as necessary as homeowners insurance, flood insurance is important in terms of sustaining a loss. Florida flood insurance covers losses that result from heavy and lengthy rain falls, storm surges, blocked storm drainage systems, etc.

Different types of flood insurance policies are available in Florida based on your property’s location and flood history:

Standard Flood Insurance Policies

If you live in a community that participates in the National Flood Insurance Program (NFIP), your building and its contents can be covered by standard flood insurance. Florida residents should be aware that the NFIP was established by the federal government to help communities who “voluntarily participate in the NFIP by adopting and enforcing floodplain management ordinances to reduce future flood damage.” To be considered a flood, waters must cover at least two acres or affect at least two properties. You must apply for building coverage and contents coverage separately if you choose to invest in a standard flood insurance policy.

Preferred Risk Flood Insurance Policies

If your home or business is in a low or moderate risk zone, your building may qualify for a low-cost preferred risk policy. While you aren’t required to purchase flood insurance, Florida residents in low-to-moderate risk areas should consider a preferred risk policy, which covers your home and its contents if you are affected by a flood that has extended into your low-risk area. In truth, many flood insurance claims occur in low-to-moderate risk areas.

Don’t wait until it’s too late. There’s no reason why you should place your livelihood at risk. From covering overall structural losses to your personal property, IOA Tampa Bay can help you acquire superior flood protection with an affordable and comprehensive Florida flood insurance policy.

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