Flood Insurance for Florida Residents

Flood insurance is often a tricky purchase for many Floridians; many people do not even realize that this is not covered under their traditional homeowner’s insurance policies. However, many people in Florida are at risk for flood damage and should take a look at the various flood insurance options that are available to them.

Understanding SFHA Designations

SFHA stands for Special Flood Hazard Area, and the term is used to help homeowners discern whether or not flood insurance is a necessity. Even though lenders typically dictate the sort of insurance that must be kept on a home while the mortgage is still in place, Florida residents who want to save money can review their flood risk statuses through FEMA’s SFHA guidelines before purchasing insurance. If the SFHA states that the risk is low, then consumers can take this information to their financial institutions and then opt for a level of flood coverage that is optimal for their locations.

Preparing for Flash Flooding  

Springtime is certainly a time to celebrate in Florida. The weather is warmer, tourism is in season, and the time is finally right for swimming, fishing and other watersports. However, this warmer weather also brings with it the threat of severe weather and heavy rainfall that could possibly result in flash flooding. Flash flooding is the top weather-related killer in the country, and it causes more damage to homes than tornadoes, high winds and hail combined. Homes in low-lying are considered high-risk, particularly for consumers who live in south Florida.

Protection from Heavy Rains

Florida is notorious for heavy rainfall, particularly in the spring months. When this heavy rain falls on grounds that are already saturated or on grounds that are not served by adequate storm drains, chaos can ensue. Heavy rains can cause severe flash flooding in localized areas, so purchasing flood insurance is essential in this case. Consumers should take the time to review their current flood insurance coverage and ensure that it is adequate for covering their homes and their possessions.

The National Flood Insurance Program

The National Flood Insurance Program, or NFIP, is offered to consumers all over the country so that they can protect themselves, their homes and their possessions from damage. The NFIP offers flood insurance to home, business and property owners as long as their communities participate in the NFIP. By participating, Florida communities have agreed to meet and exceed FEMA guidelines for protecting the community from flooding danger. The flood insurance offered through this group can be purchased from multiple insurance providers, but since the policy is between the consumer and the federal government, the rates do not fluctuate from carrier to carrier or from place to place.

Flood insurance is certainly important, but it is something that many consumers believe is included in their standard homeowner’s insurance. Florida residents should remember to contact their insurers at least once per year to discuss their coverage and make changes to their flood insurance policies, if necessary.