No matter where you live, having the right type of home insurance is a must. But those living in states like Florida must be extra vigilant about flood insurance.
According to FEMA, home insurance of U.S. counties have been impacted by a flood event sometime between 1996 and 2019.
If you own a property in Florida, it’s crucial to know whether or not you’re in a Florida flood zone. But how do you know if this applies to you?
Florida Flood Zone Designations
There are several flood zones in the state of Florida, and it’s important to understand each one and the risk associated with them. A moderate or low-risk flood zone is an area where floods have never happened. If you live in this zone, flood insurance is not required, but it’s still recommended to keep your property safe.
A high-risk flood zone is an area where flooding happens frequently. In these areas, flooding typically destroys the entire zone at once, and purchasing flood insurance is mandatory.
Coastal areas are exactly what they say: areas with homes located along a coastline. This Florida flood zone is also at a very high risk of flooding each year. Buying flood insurance here is also required.
Areas called A zones are designated with different letters including AE, A, AH, AO, or A1-A30 codes. In these areas, there is a one percent chance of flood damage each year. However, the risk rises to over 25 percent if a certain flood event occurs over a 30-year period.
Zones designated as B, C, or X have a less than one percent chance of dealing with a flood annually. But the risk factor does start to rise quite a bit over a 30-year period.
V zones designated as VE, V, or V1-V30 are coastal areas with a one percent chance of floods occurring annually. Just like the A zones, the risk factor goes above 25 percent over 30 years. Finally, D zones don’t have a specific flood risk factor but are typically still considered a possible flood risk area.
How to Check Flood Plain Boundaries
Knowing your specific Florida flood zone is crucial, especially when it comes to getting flood insurance. Different neighborhoods, counties, and cities are in various flood plains based on flood maps designated by FEMA.
To find your home’s location and floodplain boundary, you can use the FEMA Flood Map Service Center online. Simply enter your address, and you’ll be able to see exactly which flood zone a property is in.
If a property happens to be vacant or does not appear on the map, simply use the property next to it as a guideline. Once you have the results, you can export them as a PDF, print them, save them to your computer, or email them.
When it comes to buying flood insurance, it’s vital to note that virtually all of Florida is in a flood plain. The key is determining what your specific zone is, which will impact your coverage and premium costs.
Facts About Flooding and Insurance
If you live in a Florida flood zone, there’s no need to panic. Flood insurance is designed to protect you and your property in the event of a serious flood.
There are currently three ways that you can choose your flood protection. The first option is to enroll through FEMA’s National Flood Insurance Program. Alternatively, you can shop private insurance markets or opt for an endorsement or add-on to your current homeowner’s insurance policy.
While one of these options isn’t better than the other, it really depends on your property and where it’s located. This is the best way to decide which option will be the best form of flood protection for you.
At one time, FEMA’s NFIP plan was the only option for homeowners. But today, more private flood insurance policies are becoming available. This allows you to determine which plan is best since the NFIP has limitations that private coverage may not. On average, the NFIP has a replacement cost coverage limitation of just $250,000.
Why Choose Flood Insurance?
Most standard home insurance policies don’t cover flooding in relation to natural disasters. Even if you don’t live in a Florida flood zone, it’s still a smart idea to get additional coverage just in case. Unpredictable weather and hurricanes can strike at any time.
Properties located in a Special Flood Hazard Area (SFHA) can obtain an elevation certificate. This document is prepared by an experienced engineer or surveyor who provides information about the elevation of the property related to the area’s base flood elevation. it also shows more information about the building and recent flood maps.
Flooding is rated based on building elevations related to nearby properties. Getting an elevation certificate may be required, depending on your location and the type of insurance you need. However, some private companies don’t require these certificates if the home is in a preferred zone.
This certificate may help you to save on flood protection costs. But no matter where you are, getting flood insurance in the state of Florida is highly recommended.
Protect Your Investment
Whether you live in a Florida flood zone that’s high or low-risk, you should always seek flood insurance protection. Understanding the floodplain boundaries and elevation certificates can help you save money and protect your largest investment.
If you’re looking for a flood insurance quote or would like more information, contact the team at Harris Insurance today!
LEGAL DISCLAIMER
Views expressed here do not constitute legal advice. The information contained herein is for general guidance of matter only and not for the purpose of providing legal advice. Discussion of insurance policy language is descriptive only. Every policy has different policy language. Coverage afforded under any insurance policy issued is subject to individual policy terms and conditions. Please refer to your policy for the actual language.
