Do I Need Flood Insurance?

Image - Home engulfed by SinkholeThe short answer is yes! Whether or not you live in a high risk flood zone, you are taking a tremendous risk with your home and financial security by not obtaining flood insurance.

With very few exceptions, homeowners’ insurance does not provide coverage for damage caused by a flood. While the image of a river overflowing its banks often comes to mind when defining a flood, a lot of other situations fall under flood insurance. Mudflow, tidal storm surges, and excessive water runoff from melting snow or storms can all fall under flood insurance.  Many people in Florida find themselves unexpectedly in danger of flooding after land development changes the way water flows in an area or a storm drain gets clogged.

The other consideration is that a little bit of water can cause a lot of damage. An inch or two of water in a home can easily cause tens of thousands of dollars in damage. If things don’t dry out quickly and mold begins to grow, the cost to repair even minor flood damage increases exponentially. Your home doesn’t have to float away for you to have a mess on your hands and no insurance coverage to pay for repairs.

If you live in a high risk flood area, carrying flood insurance for your home is typically a condition for obtaining a mortgage. If you live in an X flood zone, an area will a low risk of flooding, the cost for flood insurance is comparatively low. The maximum amount of coverage available through the National Flood Insurance Program for residential properties is $250,000 for the home’s structure and $100,000 for the contents of the home. Coverage over and beyond that offered through the federal program is available through excess flood policies.

At Dimmitt Insurance, our experienced insurance advisors will be happy to provide you with a quote for flood insurance coverage on your property. Please note that, with the exception of initiating a policy to coincide with a loan closing, there is a 30 day waiting period before most flood policies become effective.

Please visit for additional information on importance of flood insurance.

For additional questions or comments, please contact me at Dimmitt Insurance:

Elizabeth Staley, Private Client Account Manager

Main   727.797.9730

Direct 727.259.4908

25191 US Hwy 19 N

Clearwater, FL 33763

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