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West Palm Beach, FL 33411

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Is flood insurance available for Florida residents?

Anyone who lives in a state that participates in the National Flood Insurance Program is eligible for flood insurance. Fortunately, most US states participate in the NFIP. Of course, areas like Florida, which are considered flood zones, are definitely eligible for this type of coverage. In fact, it’s possible to purchase flood insurance from private insurance companies as well as from the FEMA program.

Flood Insurance for Florida Residents

Florida is a state that participates in the NFIP and is also considered a flood zone. How much you pay for flood insurance depends on your area or zone. If you live in a higher flood risk zone, you may pay more than someone who lives in a lower-risk flood zone. However, other factors may affect how much you pay for flood insurance. FEMA has an extensive map that outlines flood zones.  Also, there may also be other maps that provide this information as well.

Atlantis Insurance Inc. of West Palm Beach, FL is committed to educating customers on the ABCs of flood insurance and how it works. Plus, Florida has many private insurance companies that provide flood insurance for Florida residents. Residents can choose between participating in the flood insurance program with the NFIP or acquiring flood insurance from a private company. 

What Does Flood Insurance Cover?

The standard NFIP policy provides up to $250K of property/home damage coverage for Florida residents. Actual cash value coverage is provided for up to $100K and is designed to cover personal items/belongings. West Palm Beach, FL residents that have questions about flood insurance, should call our team at Atlantis Insurance Inc. We’d be happy to explore your unique situation and discuss flood insurance benefits with you. 

 

Flood Insurance for Low-Risk Zones

You live in an area where floods are not likely, but you’ve been told you probably need flood insurance anyway. Why is that the case? Let us at Atlantis Insurance Inc. explain why residents in low-risk flood zones in West Palm Beach, FL should seriously consider flood insurance protection.

Do You Even Need Insurance in a Low-Risk Zone?

Did you know that about 25% of all flood insurance claims come directly from areas with low or moderate flood risk? While that means 75% still occur in high-risk areas, living in a low-risk area does not mean "no risk." Floods can occur in many situations when you least expect them. 

That’s just one reason why these policies are so important to consider. People in low-risk zones often don’t have the preparation skills that those in high-risk areas possess. As a result, they may even be at a higher risk of losing their items because they do not have an adequate flood insurance policy.

What Does Flood Insurance Cover?

Flood insurance will cover any damage to your home or material loss directly caused by a floor. It does not cover any natural wear and tear damage that may occur to your home over time. Some may not cover damage caused by the flood but worsened by poor maintenance management. 

However, a high-quality flood insurance policy will cover most flooding situations to provide you with the help you need to recover. Many even include temporary relocation coverage, meaning that they’ll pay for you to stay in a hotel or a temporary rental area while your house is repaired.

Where Can You Get a Policy?

Flood insurance for low-risk zones provides a strong level of protection that will minimize any problems you might experience. So please reach out to us at Atlantis Insurance Inc. to get the West Palm Beach, FL flood insurance that you need to avoid long-term concerns.

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!

Does Homeowners Insurance Cover Water Damage?

DR-1174-ND 1997 Grand Forks flood

One of the major causes of destruction to homes and personal belongings is water damage. Water damage is recently becoming a common threat. That is why homeowners are seeking ways to remedy it. To achieve protection, homeowners look to home insurance.

However, having home insurance doesn’t mean that you have cover for all forms of water damage. People often ask does homeowner insurance cover water damage? The answer is both yes and no.

Most standard home insurance policies have the same regulations when it comes to water damage. They do not cover all types of water damage. You need to know how to handle issues concerning water damage before you can get your claims.

You should have a better knowledge of the type of water damage that your policy covers. Knowing this will help you to put up ways to protect your home from water damage, says RentSmartUSA. Homeowners who are unaware of this usually find it disappointing when their insurance doesn’t pay for the damages.

Often, your insurance may not pay because that water damage is not in the standard policy.

Criteria for water damage cover

To qualify for water damage coverage under a standard policy, you have to meet the following criteria:

  • The water damage should not be from sources outside the home.
  • Poor maintenance or negligence should not be the cause of water damage.
  • It should not be a case of flooding from water bodies or oversaturated ground.
  • The water damage should not be from a gradual issue, for example, a leaking sink.
  • It should be from sudden and internal causes such as burst pipe.

What type of damage does home insurance cover?

To get water damage coverage under the standard insurance policy, the cause must be immediate, internal, unforeseen, and accidental. Thus, standard home insurance covers water damage from the following cause:

Pipe leaks

Your standard home insurance will cover water damage that results from a sudden burst pipe. Such pipes must have previously been in good condition. It should not be from a pipe that had a poor maintenance status.

When frozen pipes lead to a burst and water damage, your home insurance policy will cover it. But there should be proof that during the burst, your home had adequate heating.

Water damage from storms

Your home insurance will provide coverage if water enters your home through a broken window during a rainstorm. However, if water enters through a broken window, it shouldn’t be because you did not replace broken windows before the rainstorm.

Water damage while trying to extinguishing a fire

In the event of a fire, your sprinklers or firefighters will spray water into your home to extinguish it.  The fire extinguishing process can cause water damage to your home and properties.

Your standard policy will cover this type of damage. However, it will not cover it if the fire outbreak was due to your carelessness.

Leaking appliances

Some appliances that make use of water can break down and cause water damage to your home. For instance, a piece of cloth can block the overflow hose of your washing machine. Such an incident can lead to flooding of the property. Your standard home insurance will cover the damage after excluding that it wasn’t from your negligence or carelessness.

Water damage from sudden roof leaks

If your roof develops sudden leaks that result in water damage, your insurance will cover this damage.

Vandalism

If there is water damage to your property due to vandalism by other people, standard home insurance will provide coverage.

Types of water damage that your home insurance doesn’t cover

Below are the types of water damage that you should not expect coverage from standard home insurance:

  • Water damage resulting from swimming pool leakage or similar structures.
  • Damages from intentional acts.
  • Poor maintenance issues that lead to water damage.
  • Backed-up sewers or drains.
  • Flooding from natural disasters like tsunami or hurricanes.
  • Earth movements that cause water damage, for example, mudslide, landslide, and earthquakes.
  • Sump pump failure or related appliances causing water damage.
  • Water damage from leaks or seepage through the property’s foundation.

It is also necessary to note that the cost of fixing or replacing the source of water damage is not under coverage by your standard home insurance.

For cases that are not under the coverage of standard home insurance, we recommend that you pay the premium to obtain additional coverage. The additional premium will cover cases such as flooding, ground seepage, sewer backup, natural disasters, and so on.

In a nutshell: Does Homeowners Insurance Cover Water Damage?

Homeowner’s insurance will only cover water damage depending on the type and cause. Standard home insurance does not cover all forms of water damage. However, if you need additional coverage for water damages, paying a premium will be beneficial.

Should I get flood insurance for my property?

The West Palm Beach, FL area is a trendy place for people to live in and visit. When you are here, buying a home can be a great option. If you would like to purchase a home in this area of Florida, it is vital that you protect it with insurance, and you can. One great way to do this is by getting flood insurance. There are several reasons why you should get flood insurance for your West Palm Beach property.

Flood Insurance Protects Against Flood Risk

The main reason that you should get flood insurance here is that it can help to protect against flood risk. Those that are near the water are going to be at risk of floods at all times. If there is a bad flood, and it affects your home, the impact could be terrible and lead to severe damages. Fortunately, you can offset this risk with a flood insurance policy.

Insurance is Often a Requirement

You will also need to get flood insurance because it could be a requirement for you. Many people that are in this area of Florida are located in a high-risk zone as designated by FEMA. If this is the case for you, a mortgage lender or condo association is likely to require you to carry the proper insurance to mitigate this risk. This often means having a full flood insurance policy.

There are a lot of situations when having flood insurance will be a requirement for you. If you are looking for insurance in West Palm Beach, FL, you should call Atlantis Insurance Inc. The team at Atlantis Insurance Inc. knows how important it is that you get proper insurance for your home. They will give you the guidance you need to evaluate your flood insurance needs and select a policy. 

Should I get flood insurance for my property?

The West Palm Beach, FL area is a trendy place for people to live in and visit. When you are here, buying a home can be a great option. If you would like to purchase a home in this area of Florida, it is vital that you protect it with insurance, and you can. One great way to do this is by getting flood insurance. There are several reasons why you should get flood insurance for your West Palm Beach property.

Flood Insurance Protects Against Flood Risk

The main reason that you should get flood insurance here is that it can help to protect against flood risk. Those that are near the water are going to be at risk of floods at all times. If there is a bad flood, and it affects your home, the impact could be terrible and lead to severe damages. Fortunately, you can offset this risk with a flood insurance policy.

Insurance is Often a Requirement

You will also need to get flood insurance because it could be a requirement for you. Many people that are in this area of Florida are located in a high-risk zone as designated by FEMA. If this is the case for you, a mortgage lender or condo association is likely to require you to carry the proper insurance to mitigate this risk. This often means having a full flood insurance policy.

There are a lot of situations when having flood insurance will be a requirement for you. If you are looking for insurance in West Palm Beach, FL, you should call Atlantis Insurance Inc. The team at Atlantis Insurance Inc. knows how important it is that you get proper insurance for your home. They will give you the guidance you need to evaluate your flood insurance needs and select a policy. 

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