Not sure if you need Flood Insurance ?

Insurance Authority, Flood Insurance Experts Can Help!

If you have ever wondered why a separate flood insurance policy is required for your Fort Lauderdale, Florida property, you are not alone. “But we already maintain a homeowner’s policy!” is a statement that many Florida independent homeowner’s insurance agents hear, time and time again. “So why do we have to purchase another policy–a separate Florida flood insurance policy? Why aren’t we covered under our Fort Lauderdale, Florida homeowner’s policy in the event of a flood?” And like many individuals, the answer(s) to these questions may just surprise you.

Let’s start with the basics. First and foremost, know this: In terms of insurance, the peril of “flood” is not the same as a “water damage” peril. Generally speaking, as is the case with most homeowner’s insurance companies today, the definition of “flooding” refers to, stems from and relates specifically to “rising waters.” Therefore, any and all perils resulting from rising waters are typically not covered perils under most homeowner’s insurance policies. For example, if your property is located on or near a body of water that—for whatever reason—should overflow and thereby cause damage to either your property, your personal property and/or both, without the maintenance of a separate flood insurance policy, there is no coverage, as no coverage for this peril exists under a typical homeowner’s policy or otherwise.

“But I already have a separate Florida hurricane policy,” you may say, “so that policy will cover me for flood damage if rising waters resulted on account of the hurricane, right??” Wrong. In the event any flooding should occur, whether or not the same may be connected to a named hurricane and/or windstorm event, the fact of the matter is without a separate flood insurance policy, there is no coverage in the event rising waters should ensue. Why? As in similar fashion to homeowner’s insurance policies, for example, hurricane and/or windstorm policies only provide coverage for wind and/or hurricane-related damage. As flood is a separate peril, a separate flood policy is required for flood insurance coverage.

“Do homeowner’s insurance policies provide coverage for any other form of water damage?” Yes, but as with all homeowner’s insurance claims, coverage may or may not be provided depending upon specific circumstances surrounding each claim. For instance, water damage occurring from the structure’s roof may be covered resulting from a sudden peril if said roof was in good condition prior to the event. However, if the roof was not properly maintained, coverage may be denied. The same is applicable to water damage resulting from bursting pipes, home appliances such as washing machines, dishwashers and the like.

“Is everyone required to purchase a Fort Lauderdale, Florida flood insurance policy?” If the property is located in a flood zone and a mortgage is maintained on the property, the bank will require you to purchase a flood insurance policy. If you are uncertain what flood zone your home is located in, you may consult with your local Florida independent insurance agent for further assistance.

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