Flood Insurance in Miami, FL
Flood Insurance Quote
Most standard homeowners insurance policies do not cover flood damage. You will need a separate flood insurance policy to receive coverage for this peril.
What Is Flood Insurance?
Flood insurance is a type of property insurance that covers specific types of water damage to your home and belongings. Flood insurance typically covers incidents such as a hurricane storm surge, a heavy downpour accumulating faster than it can drain, and mudflows.
What Does Flood Insurance Cover?
Flood insurance typically offers the following coverages:
Do I Need Flood Insurance?
If you live in a high-risk flood zone, you may be required by your mortgage lender to obtain flood insurance to get a loan. You may also be required to have flood insurance if you have received government aid for flooding in the past. If your mortgage lender doesn’t require it, it may still be beneficial to have coverage. Without flood insurance, you would have to pay for costly flooding incidents out of pocket. According to the National Flood Insurance Program, 1 foot of water could cause more than $29,000 in damage to a 1,000-square-foot home.
- Building property coverage may help cover the physical structure of your home. It may pay for flood damage to the following:
- Electrical and plumbing systems
- Water heaters
- Foundation walls
- Built-in appliances and cabinets
- Permanently installed carpets
- Detached garages
- Fuel and well water tanks
- Personal property coverage may help protect personal belongings damaged due to a flooding incident. This includes the following items:
- Portable air conditioners
Flood Insurance Quote in Miami, FL
If you need help deciding if flood insurance is right for you, contact Tanenbaum Harber Insurance Group. We have been serving the Miami area since 1986 and can help you make an educated decision about your insurance coverage.