Protect Yourself from Floods

Flood Insurance

Standard homeowners and renters insurance DOES NOT cover flood damage. Flood coverage, however, is available in the form of a separate policy both from the National Flood Insurance Program - NFIP (888-379-9531) and from a few private insurers.

The NFIP provides coverage for up to $250,000 for the structure of the home and $100,000 for personal possessions. The NFIP policy provides replacement cost coverage for the structure of your home, but only actual cash value coverage for your possessions. Replacement cost coverage pays to rebuild your home as it was before the damage. Actual cash value is replacement cost coverage minus depreciation so that the older your possessions are, the less you will get if they are damaged. There may also be limits on coverage for furniture and other belongings stored in your basement.

Flood insurance is available for renters as well as homeowners. You will need flood insurance if you live in a designated flood zone. But flooding can also occur in inland areas and away from major rivers. Consider buying a flood insurance policy if your house could be flooded by melting snow, an over-flowing creek or pond, or water running down a steep hill. Don’t wait for a flood season warning on the evening news to buy a policy—there is a 30-day waiting period before the coverage takes effect.

Excess flood insurance is also available from some private insurers for those who need additional insurance protection over and above the basic policy or whose community does not participate in the NFIP. Depending on the amount of coverage purchased, an excess flood insurance policy will cover damage above the limits of the federal program on the same basis as the federal program: replacement cost for the structure and actual cash value for the contents.

Our philosophy is to work closely with both our clients and potential clients to answer their questions, discuss their needs, and assure they are properly protected. We often sell service over price, and the referrals we receive are a statement to this. It's this philosophy that's made Prosperity Insurance Group a strong leader in the South Florida insurance industry. Call us today at 561.529.4070 .

We invite you to call or email us today for a free consultation and no-obligation proposal for any or all your insurance needs. We look forward to hearing from you. CALL OR EMAIL US TODAY! Or you can use our convenient online form to get in touch.