Is Flood Insurance Required in Florida?

If you are trying to find out if flood insurance is required here in Florida, keep reading! In order to understand what coverage you need, it is important to know these three things. A standard Florida home insurance policy does not cover flood damage! Not even a little! A flood policy is separate from your home insurance. Finally, you may have to buy flood insurance if you are taking out a mortgage on a property that is near or in a high-risk area, your mortgage lender will require you to purchase flood insurance for FL.

Does my Florida Homeowners Cover Flooding?

Many people assume their Florida homeowners insurance policy from will cover their home against flooding. That is a big NO. You will not find a homeowners policy that will cover you against flooding. A homeowners insurance policy will only cover you against these main perils.

  • Smoke and Fire Damages
  • Wind Damages
  • Lightning
  • Hail Storms

Your Florida home insurance policy may cover you from some rain damage but if you live near a river, lake, or ocean then you won’t be covered. The most common type of flood insurance coverage is offered through the National Flood Insurance Program. A flood insurance policy will be separate from your home insurance. Sometimes it is necessary to to be covered against the numerous damages of flooding.

What will flood insurance cover?

When it comes to a Florida flood insurance policy, it is important to know what you are covered for. Be sure to read through this list as it will inform you of what is and isn’t covered in your policy.

You will find that these items are covered in a FL flood insurance policy:

  • Your home
  • Your home’s foundation
  • Electrical Systems
  • Plumbing systems
  • HVAC equipment
  • All kitchen appliances
  • Personal Property such as clothes, furniture, and electronics

What is not covered by my flood policy?

Now that you know what will be covered by your policy. Let’s discuss what isn’t covered. By rule of thumb if your item belongs in the bank or a safety box, then it will not be covered. For example, these items will not be covered in the event of a flood according to

  1. Stocks
  2. Bonds
  3. Cash
  4. Desks
  5. Patios
  6. Swimming pools
  7. Cars

Just to name a few. It is crucial to realize that these items are not covered by your FL flood insurance.

Is my basement covered by floods?

If your home has a basement, you will be even more at risk. This is due to the limited amount of coverage that you receive for basements. When it comes to your basements and floods, your policy will not cover these things located in there: Any bookcases, carpeting, any types of paneling, walls and ceilings that aren’t made of drywall, all personal property.

How much will it cost me?

A typical Florida flood insurance policy will cost you on average $600 per year. Remember you need to purchase a Florida homeowners insurance policy from and a flood policy if you are in a high risk zone. Better safe than sorry right? Technically the entire state is subjected to flooding so it is strongly recommended to purchase both policies.