WHAT IS A FLOOD
Flood Insurance in Ft Lauderdale FL
Flood Insurance:One of the biggest myths is that your Homeowners Insurance will cover for a Flood. It will not, and the only way to protect against Flood is with a Flood Insurance Policy. The entire state of Florida is in a Flood Zone. , flood insurance covers direct physical loss caused by “flood.” A flood is an excess of water on land that is normally dry. The official definition used by the National Flood Insurance Program is “A general and temporary condition of partial or complete inundation of two or more acres of normally dry land area or of two or more properties (at least one of which is your property).
Overflow of inland or tidal waters and unusual and rapid accumulation or runoff of surface waters from any source. Collapse or subsidence of land along the shore of a lake or similar body of water as a result of erosion or undermining caused by waves or currents of water exceeding anticipated cyclical levels that result in a flood as defined above.
Most homeowners in a moderate-to-low risk area are eligible for coverage at preferred rates. Preferred Risk Policy rates are the lowest premiums available through the National Flood Insurance Program. Rates include building and contents coverage for one low price. In fact, building and contents rates start at just $129 per year.
Just a few inches of water from a flood can cause tens of thousands of dollars in damage .Over the past 10 years, the average flood claim has amounted to over $33,000.
The maximum coverage, for a residential building, under the National Flood Insurance Program is $250,000. For a commercial or nonresidential building the maximum is $500,000. The maximum coverage available for contents coverage for a residential building is $100,000 and for a nonresidential the maximum is $500,000. If you need or require more than this excess flood insurance is available with a number of our partners.