Flood insurance is probably one of the least understood coverages available to homeowners. Most customers only carry flood insurance because it is required by their mortgage or think that because their home is not in a hazardous flood zone that they do not need it.

Let’s clear up some of the typical misunderstandings regarding flood:

1. Flood ONLY covers rising water: water from the outside of the home that rises from the ground to enter you home.
2. It does not cover for broken/damaged pipes, plumbing or water that comes into the home from the roof or broken window, these type of claims are covered by your regular home insurance.
3. 20% of all flood claims come from properties that are not considered to be in a hazardous flood zone.
4. Every home in Florida is in a FLOOD ZONE. Some homeowners are under the impression that because they are not in a hazardous flood zone they are not in a flood zone at all.
5. FEMA regulates ALL flood policies and the rates are therefore governed on a federal level versus a state level. FEMA’s Flood Insurance pricing is the same regardless of which insurance company you purchase from.
6. All flood policies are required to be paid in full for the year and cannot be cancelled. The one exception to that would be if the property was sold midterm.
7. If you are not in a hazardous flood zone (preferred: “B”,”C” or “X” flood zone) it is very inexpensive to purchase flood insurance. Please see chart below! Just find that amount of coverage you want and the price will be listed next to it.