Flood Insurance

Losses due to flooding are not typically covered under most homeowners policies, so it may be wise to consider adding a Florida Flood Insurance policy for complete protection.

The Benefits of Flood Insurance Versus Disaster Assistance

Flood Insurance
  • You are NOT in control. Flood insurance claims are paid even if a disaster is not declared by the President.
  • More than 30 percent of NFIP claims come from outside of mapped Special Flood Hazard Areas.
  • There is no payback requirement.
  • Flood insurance policies are continuous, and are not non -renewed or canceled for repeat losses.

Flood insurance reimburses you for all covered building losses up to $250,000 for residential occupancies and up to $500,000 for businesses. Contents coverage is also available up to $100,000 for residential occupancies and up to $500,000 for businesses.

Disaster Assistance

  • Most forms of Federal disaster assistance require a Presidential declaration.
  • Federal disaster assistance declarations are not awarded in all flooding incidents.
  • The most typical form of disaster assistance is a loan that must be repaid with interest.
  • The duration of a Small Business Administration (SBA) disaster home loan could extend to 30 years.
  • The average Individuals and Households Program award for Presidential disaster declarations related to flooding in 2008 was less than $4,000.
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