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Flood Insurance FAQs

How much is Flood Insurance?

The cost of flood insurance varies based on factors like your property’s location, flood zone, the age and construction of your home, and the level of coverage you choose. High-risk areas typically have higher premiums.

Flood insurance generally covers damage to your home’s structure, foundational elements, electrical and plumbing systems, HVAC equipment, and permanently installed carpets and paneling. It may also cover personal belongings, depending on the policy.

In Florida, flood insurance is required for properties in high-risk flood areas with mortgages from federally regulated or insured lenders. However, it’s recommended for all properties due to Florida’s susceptibility to flooding.

No, standard homeowners insurance policies do not cover flood damage. Separate flood insurance is needed to protect against damage caused by external flooding.

There’s generally a 30-day waiting period from the date of purchase before flood insurance policies take effect, although there are some exceptions.

Flood insurance usually covers structural elements and essential equipment in basements, like furnaces and water heaters, but it typically does not cover personal belongings or contents stored there.

To assess your property’s flood risk, consult FEMA’s Flood Insurance Rate Maps (FIRMs) or speak with local officials. Univista can also assist in evaluating your specific flood risk.

Yes, flood insurance has coverage limits. The National Flood Insurance Program (NFIP) offers maximum coverage of $250,000 for the structure and $100,000 for contents for residential properties, but higher limits may be available from private insurers.

Yes, renters can purchase flood insurance to cover their personal belongings. The structure is typically covered by the landlord’s policy.

Considering the high cost of flood damage and the increasing frequency of flooding events, flood insurance can be a wise investment, especially in high-risk areas.

Insurance agent
Insurance agent
Insurance agent

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