According to Florida Disaster, flooding is among the most frequent hazards in the state. As a homeowner residing in this southeasternmost state, it pays for you to understand the factors that contribute to this phenomenon.
First, it pays to know that more storms hit Florida than any other state in the U.S. Furthermore, the state’s recorded hurricane history includes around 500 tropical or subtropical cyclones. The cumulative damage that these storms left have added up to as much as $141 billion (mostly from Hurricane Andrew in 1992).
What’s alarming is that during the onslaught of Hurricane Harvey and Hurricane Irma in 2017 alone, as much as 80% of flood-related home damages were not insured.
Having said all of these, getting flood insurance in Florida is essential in protecting your home. It can spell the big difference between recovering from a natural calamity and sinking into a financial slump.
To convince you further, here are three big reasons why you must consider purchasing flood insurance sooner than later:
1. You’ll Be Left Vulnerable to Flood Damage Until You Buy One
Before anything else, it pays to remember that your standard homeowner’s insurance policy does not include coverage for flood damage. Unfortunately, according to the 2016 Consumer Insurance Survey by the Insurance Information Institute, at least 43% of homeowners surveyed believe that damage from flooding is covered under their standard insurance.
It’s also worth recalling that most of the homes affected the most by Hurricane Florence in 2018 were underprepared for the storm’s aftermaths.
Purchasing a separate insurance policy for flood damages will give you peace of mind no matter what storm may come—both literally and figuratively.
2. You Can Still Be a Victim of Flooding Regardless of Your Location
Even if you live in medium- to low-risk zones, even a one-inch increase of flood water level may cause significant damage to your home. On top of that, you should know that a significant percentage of flood insurance claims actually come from properties located outside high-risk areas.
Your home may be miles away from a floodplain or any body of water. However, you can never be too sure of things; it’s still much better to be safe than sorry!
3. Flood Maps Change
The sad (and terrifying) truth is that your area will not always be low-risk. In reality, floodplains and flood maps change over time. You may not be experiencing floods after an excess rainfall or storm, but this may not be the case a few years from now.
For your reference, there are online resources you can use to learn more about flood risks in your area. Aside from this, you may also consult with your insurance agent. Nevertheless, purchasing a flood insurance policy today will help you prepare for the future, no matter what it brings.
Conclusion
Doing without a flood insurance policy will leave you vulnerable and exposed to costly damages in the event of a flood. Considering this, it’s best to not wait until an unfortunate incident happens. You may not be experiencing floods in your area at the moment, but it is still better to be prepared for the worst-case scenario than to be caught off guard.
When it comes to getting flood insurance in Florida, we’re the ones to call! At Quesurance, we’re all about helping families protect and preserve their financial future. Contact us today and we’ll help you find the right amount of flood coverage for your home.
