Homeowner's Academy

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Mother Nature Strikes When You Least Expect It! Protect Your Home from Flood Damage

by People's Trust Marketing | Feb 07, 2018

 

Flood Infograph | People's Trust


The tremulous 2017 hurricane season, with its category 5 Hurricanes Harvey, Irma, and Maria striking, proved just why everyone needs flood insurance. With the flooding that happened throughout Biscayne Bay, Tampa Bay, Naples, Bonita Springs, Jacksonville, and many other areas in Florida, it just proved that everyone who owns a home in Florida is susceptible to flooding. The Florida Office of Insurance Regulation (OIR) reported total estimated insured losses at more than $5.8 billion as of Nov. 13, with more than 689,000 residential property claims and 51,396 commercial property claims.

 

Hurricane Harvey is estimated to have caused about $30 billion in damages, while Irma caused around $5 billion. Flood victims may have to pay hundreds of thousands of dollars to get their home back to pre-flooding condition out of their own pocket if they do not have Flood Insurance. Avoid being in this situation by purchasing Flood Insurance.

All homes in Florida are at risk for flooding! The flood maps compiled by the Federal Emergency Management Administration (FEMA) separate properties by “high-risk” mandatory insurance flood zones and “low-risk” optional insurance zones. If you own a home in Florida and don’t have Flood Insurance, you’re leaving yourself open to overnight financial ruin. Think about this: just one inch of water in a home, can cost more than $20,000 to repair. Without Flood insurance, you’re responsible for it all.

Below are some facts from FloodSmart.gov, the official website of the National Flood Insurance Program (NFIP) and administered by FEMA, answering the question of “Why do I need Flood Insurance?"

FACT: Floods are the nation’s most common and costly natural disaster and cause millions of dollars in damage every year.

FACT: Homeowners insurance does not typically cover flood damage.

FACT: Floods can happen anywhere--more than 20 percent of flood claims come from properties outside the high-risk flood zone.

Below is the average cost of flood insurance in Florida in 2017:

 

Flood insure rates


Call People’s Trust Insurance at 800-500-1818 or your authorized insurance agent for a FREE Flood insurance quote today and give yourself the peace of mind every day that you’re covered against disaster, whenever it decides to strike.