Why Do I Need Florida Flood Insurance?

August 19, 2019

Did you know that in 2012, the National Flood Insurance Program (NFIP) paid out more than $7.7 billion in flood insurance funds to Florida policyholders?

From coast-to-coast, Florida’s number one threat remains a deluge. But the Sunshine State isn’t alone.

Flooding also poses a threat for properties across the US. It proves the number one natural disaster in the country. Especially when you consider how little water it takes to damage property.

For example, just two feet of floodwater can easily carry a car away and little more than a few inches of water can lead to tens of thousands of dollars worth of damages.

Of course, these risks are amplified in Florida. Here, the combination of heavy precipitation, low elevations, and coasts on three sides represent a “perfect storm” for flooding. Even when other parts of the country remain relatively dry.

Read on to find out more about Florida flood insurance and why it’s the best investment you’ll ever make.

What You Need to Know About Florida Flood Insurance

If you’ve ever explored the question, “How much is flood insurance in Florida?” then you may wonder whether or not you can get away without this coverage. Since the average NFIP policy comes in at $545 per year, it can be tempting to forgo it.

That said, less than $600 per year is peanuts when it comes to the losses you could incur from a flooding incident.

But what if you’ve looked at a Florida flood zones map, and your home isn’t in a high-risk area? Or, even a moderate one for that matter?

Depending upon where your property falls, flood insurance may not be a requirement. But that doesn’t mean you’re off the hook.

Even if your property’s not categorized within one of these zones, there remain many other compelling reasons to get coverage.

And if you’re in an area designated for moderate to high-risk flooding? Then, don’t even think twice about flood insurance. You must have it!

Why? Because properties are deemed at greater risks for flooding due to a variety of reasons including low elevation and greater storm exposure.

Besides common sense, your mortgage loan most likely comes with a stipulation to purchase coverage.

Why You Need Flood Insurance in Florida

Even though flood zones A and V most commonly require an insurance policy, floods can happen anytime and anywhere.

If your home is located in a flood area designated B, C, or X, you might breathe a sigh of relief. But did you know that up to one-quarter of flood events happen in these areas?

In other words, you have a one in four chance of getting flooded, excluding high flood risk areas. Just because you haven’t experienced a flood in the past doesn’t mean you won’t in the future.

Of course, your chances for flooding get amplified the closer your residence is to a lake, river, or beach. And don’t expect your rental or homeowners insurance to kick in should your area get unexpectedly inundated by a storm surge.

What You Need to Know About Flood Damage and Federal Assistance

But what if you’re holding out for federal assistance? Think again. Unless your area is declared a federal emergency zone, you may not receive help through programs such as FEMA for Florida flooding.

And if you do get lucky enough to secure a little federal funding? It’s often capped around $10,000. This barely scratches the surface when it comes to the damages that your property could sustain even in just a couple inches of standing water.

Besides structural damages, you have to account for flooring, wall problems, personal property loss, toxic mold growth, and appliance replacement costs. These factors can add up very quickly, leaving you broke and homeless.

What do average damages look like for homeowners with flooded properties? They can easily come in at $25,000 or more.

Not sure how these figures get calculated? Learn more about flood evaluation methods.

When it comes to flood insurance, don’t think of it as optional. Instead, it represents financial protection for your entire family. Otherwise, you stand to be crushed by the shocking property toll of a future water incident.

Understanding Your Real Flood Risk

Many people get lulled into the belief that since a flood has never happened in their area, then they have nothing to worry about. But history is not the only factor when it comes to the areas that floods devastate.

Flood risk is based on a wide variety of considerations. These include:

  • Tidal-surge data
  • River-flow
  • Rainfall
  • Topography
  • Flood-controlled measures
  • Impacts due to new construction and developments

But this is just the tip of the iceberg with regard to predicting future storms and flooding events. Climate change is rewriting the rulebook on where and how floods will manifest.

The Future of Flooding and Natural Disasters

Organizations such as the Sabin Center for Climate Change Law and the Natural Resources Defense Council have recently stepped forward with key recommendations.

These include increasing the transparency and availability of information linked to recent flood damages. They also recommend improved monitoring and data disclosure related to how communities comply with NFIP requirements.

Even more important than these current recommendations is the realization by major organizations that global warming will impact the immediate future of flooding. And more people will deal with its ill-effects.

From unprecedented and highly volatile weather patterns to increases in ocean levels from glacier melt off, flooding will remain the one constant in an unpredictable future.

The Second Best Investment in Your Future

In so many ways, living in Florida represents a dream. From +200 days of sunshine to white-sand beaches and warm turquoise waters, reasons for living here abound.

In fact, we’d put money on the fact that moving to Florida is the best investment in the future that you’ve ever made.

But do you know what the second best investment you’ll ever make is? A flood insurance policy that’s got your back when nature decides to act in violent ways.

A great flood policy covers everything from structural damage to debris cleanup, as well as household appliance replacement, utilities, and more. That way, you can focus on recovery rather than out-of-pocket expenses.

Ready to find out more about Florida flood insurance? We’ve got you covered. Contact us today for a free quote or to discuss your concerns and questions.


**This blog provides a brief overview of the terms and phrases used within the insurance industry. These definitions are not applicable in all states or for all insurance and financial products. This is not an insurance contract. Other terms, conditions and exclusions apply. Please read your official policy for full details about coverage. These definitions do not alter or modify the terms of any insurance contract.