Florida Flood Insurance
Many homeowners are surprised to learn their homeowner’s insurance policies don’t cover flooding events. That’s right: Most homeowner’s policies won’t cover flood damage.
This fact puts Florida residents—so many of whom live on or near Pinellas County floodplains—in a tricky position. For such homeowners, adequate flood insurance isn’t optional; it’s a necessity.
How Does Typical Home Insurance Define ‘Flooding?’
If a pipe in your home burst and flooded your floor, would it be considered a “flooding event” and thus, not be reimbursed by your homeowner’s policy? Or would it be covered?
If you answered, “Yes, this event should be covered under my homeowner’s insurance policy” (or something similar), you’re correct. A flooded floor or other water damage to the home caused by a busted pipe (or even a malfunctioning appliance) would likely be covered by a typical homeowner’s insurance policy.
What type of Flood Insurance Do I Need?
NFIP flood insurance policies come in two types:
- Standard Flood Insurance: These policies are designed for residents who live in communities with an active and ongoing flood management plan. Such communities must also be able to demonstrate that they have enacted certain NFIP guidelines to reduce flood-based damages.
- Preferred Risk Flood Insurance: These flood policies are designed for residents living in low-to-moderate risk zones. Such residents aren’t necessarily required to purchase flood insurance but have this option in case they experience a small flood or even an unexpectedly large one.