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Atlantis Insurance Inc

2753 Vista Parkway Suite J3,
West Palm Beach, FL 33411

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An Overview of Flood Insurance

Most people in Florida know that flooding is a serious issue in this state, but sadly, many homeowners think that their home insurance policies have them covered for floods. As a result, many of these homeowners have encountered a detrimental financial loss due to a flood peril. 

Types of Flood Insurance Policies

In addition to knowing the importance of flood insurance, especially in Florida, it is imperative to know the various types of policies available. We can help you with the following types of flood insurance policies: 

Standard Flood Insurance

This coverage is similar to the National Flood Insurance Program (NFIP), including loss adjustment and deductibles. 

Preferred Flood Insurance

This coverage is similar to standard flood insurance. Still, it must include losses resulting from water intrusion from outside the structure in which the losses are not covered under the definition of flood. This coverage also includes additional living expenses, and it requires the adjustment of the covered contents or personal property loss. 

Customized Flood Insurance

This is broader coverage than under standard flood insurance. 

Flexible Flood Insurance

This coverage is for losses resulting from a flood. It may also cover losses from water intrusion from outside the structure covered by the flood definition. This type of flood insurance must cover at least one of the following:

  • The flood coverage is a specified amount agreed between the insured and the insurer. 
  • An authorized amount of a deductible is required that includes a deductible for hurricanes.
  • The adjustment requirement of the flood loss toward a dwelling, or the adjustment based only on the actual cash property value. 
  • A restricted flood coverage limitation to the principal building of the policy.  
  • An excluded or included provision coverage for additional living expenses.
  • An excluded coverage provision for personal property or contents’ damage resulting from a flood

Supplemental Flood Insurance

This is coverage created to supplement a flood policy retrieved from an insurer issuing preferred or standard flood insurance policies or the National Flood Insurance Program. This form of insurance may also offer but is not limited to coverage for art, deductibles, jewelry, and more.

Contact Atlantis Insurance Inc.

For more information about flood insurance, contact Atlantis Insurance Inc. today. Located in West Palm Beach, FL, Atlantis Insurance Inc. has been serving West Palm Beach, FL, and surrounding areas for decades. You will be in good hands with our team, so contact us today!

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