As a homeowner, you want to ensure that your insurance is sufficient. Your home is likely one of the biggest investments in your portfolio, and as such, assuring you receive compensation for any damage after a hurricane is crucial.
Reviewing your hurricane coverage may alleviate some of your distress; however, you may notice one notable event it does not cover: flooding. If your home sustains water damage, specifically caused by a flood, your insurer may not payout. Find out why this common hurricane companion is not part of your policy.
Flood maps
When you purchase a home in Florida, you find out if your area is prone to flooding. FEMA created flood maps, which allow prospective and current homeowners to find out if the property is in a designated floodplain. If your home is in a floodplain, it means it is subject to flooding should a heavy rain event occur. A hurricane typically brings heavy rain, especially to low-lying and coastal areas.
Flood insurance
Even though a hurricane is a rain event, it is not the only thing that may cause water to rise and flood your home. This is part of the reason hurricane coverage does not pay for the damage. If your home is in a floodplain based on FEMA’s map, your mortgage company may require you to carry additional flood insurance. Since most of Florida is under sea level, even those homes not in floodplains may find themselves underwater following a disaster. Thus, having additional flood coverage may ensure that your insurance policy covers any damage.
Finding out that your hurricane policy does not cover flooding after the fact is difficult to dispute. The more insight you have, the better you can prepare.