3 Myths About Flood Insurance Florida

March 12, 2022

In Florida, flood insurance Florida is a necessity. A quarter of all Florida properties have a 26% chance of severe flooding in the next few decades. Without flood insurance, you are running the risk of massive out-of-pocket repairs or complete loss of property. As you prepare to find a flood insurance Tampa plan that fits your needs, take some time to educate yourself on popular myths that surround the insurance industry.

1. Only Homeowners Can Purchase Flood Insurance

There are over 1.5 million condos in the state of Florida, many of them in flood zones near the ocean. Lower floor condos are just as much at risk of flooding as single and two-story homes in the same area. For this reason, the NFIP (National Flood Insurance Program) was created and allowed homeowners as well as property owners and renters to buy flood insurance to protect their land, home, and their belongings. If you live in one of the many Floridian condos, purchasing flood insurance Tampa is something you can, and should, consider.

2. People in Low-Risk Areas Do Not Need Flood Insurance Florida

It’s an understandable mindset to believe that, because your residence is in a low-risk area, you have no need to spend money to protect your home from flooding. This is absolutely not the case. Around a quarter of Florida flood claims come from areas that are considered low-flood-risk zones. Low risk does not mean no risk and you should seriously consider flood insurance Florida or talk to an expert and determine your best course of action.

3. Homeowners Insurance Covers Flood Damage

The majority of homeowners’ policies do not cover damage sustained from flooding. This results in you being caught completely unprepared in the event of a flash flood or similar emergency. Tampa homeowners insurance covers many damages and events like fire, strong winds, and even theft but many of these policies do not cover the damages sustained from high water. If you think that your homeowners insurance may cover floods, it is best to speak with your insurer. This way you can find out before it’s too late.

Flood Insurance Florida | HH Insurance

When faced with disaster, the last thing you should worry about is whether or not you can financially recover. In the next 30 years, flood damage is expected to grow to a monstrous $32.3 Billion per year, a 62% increase over the current yearly total. As we face more and more floods and disasters, it becomes much more vital to be prepared. If you’re looking to buy flood insurance Florida, look no further than HH Insurance. Visit our website today to learn more about what we offer and how we can protect you and your home!