Florida residents should know that homeowners insurance policies do not provide any type of flood insurance. It is also important to understand that it can be hard to define what a flood is because it can be caused by anything from poor drainage to the landfall of a hurricane. However, when water enters a home, the damage that water causes may be covered by a policy from the National Flood Insurance Program.
A policy will cover up to $250,000 in losses based on the value of components that are damaged or destroyed. Individuals can also purchase up to $100,000 in additional insurance to cover their personal belongings. The price of a flood insurance policy may partially depend on whether a home is located in a flood zone. Homeowners are encouraged to talk to their insurance agents on a regular basis even if their homes aren't currently in a flood zone.
Doing so can be beneficial as flood maps can change, and that could put a home in a flood zone that wasn't in one previously. Those who may not live in a flood zone could still benefit from extra coverage in case a swimming pool collapses or if water tends to pool in the yard and then enter a home.
Those who purchase flood insurance may be able to have some or all of the flood damage from a major storm paid for by the insurance provider. If this does not happen, it may be an example of bad faith insurance practices. Legal counsel may help a person read and understand a policy to ensure that water damage is covered by it. If so, an attorney may be able to help a person get their hurricane damage claim approved or otherwise obtain compensation.