Fill Out Flood Quote Application Online

Remember Katrina and the recent hurricane seasons? Many people have found out the hard way about floods and flood insurance. Rising water causing severe damage to both their home and the contents inside, many people thought they were covered. Your homeowners insurance takes care of all related costs, right? Answer: Not at all! Why? Because damages caused by floods are specifically excluded from all homeowners policies. You need to have a separate flood insurance policy in order to be covered.

Flood insurance is a very necessary coverage for those who live in flood prone areas. However, it is important to understand that while homeowners insurance is designed to bring your home and its contents back to the same condition it was in before a loss, flood insurance is only meant to get you back on your feet.

"Flood" is defined as a general and temporary condition of partial or complete inundation of normally dry land areas of at least 2 acres from:

• overflow of inland or tidal waters,
• the unusual and rapid accumulation or runoff of surface waters from any source, or
• mudslides caused by flooding.

Don`t let the fact that you don`t own beach-front property lull you into a false sense of security. Beach-front structures only account for 3% of all flood losses. Homeowners who live in high hazard flood areas should seriously contemplate purchasing flood insurance...especially when you consider that they have a 26% chance of having a flood loss over the course of a 30 year mortgage! Often, flood insurance is required as a condition of granting a mortgage if your lender determines that your home is in a high hazard flood area.

Even if you live in a low hazard flood area your property may still be at risk, especially here in Florida. Each year, about 35% of all flood claims paid are for property located outside high-risk areas. The good news is that there are preferred risk programs that offer substantial premium discounts for homes located in low hazard areas.

Do not wait until the water is rising to decide that you need Flood Insurance! There is a standard 30-day waiting period for new applications and endorsements to increase coverage. The effective date of the new policy will be 12:01 a.m. local time on the 30th calendar day following the application and premium payment date. The exception is for insurance purchased as a condition for a mortgage loan. In that case, the flood insurance is effective on the date of the closing