The answer is YES!
By Thomas Kuruvilla / October 1, 2017
The question is: Do I really need flood insurance?
Florida ranks first in hurricane occurrences and is the most vulnerable state in the nation to the devastating effects of coastal storms. The increase in population and the continued coastal development over the past few decades leave residents extremely vulnerable. Nearly five million Florida homes and businesses are in flood zones. But even if you are not in a flood zone, many people have experienced loss due to flood.
More than 40 percent of homeowner's do not have proper knowledge of flood insurance. Your homeowner's policy does not cover floods caused by hurricanes and rain.
In case anyone forgot, the latest bout of tropical drenching should have provided a convincing reminder: Flooding is normal for this part of Florida, especially at this time of year. Just a few inches of water from a flood can cause tens of thousands of dollars in damage. When flooding does happen, it can be ghastly. Just ask the
residents of The Acreage, Loxahatchee, and Wellington who, in 2012, were trapped in their homes after 11 to 20 inches of rain fell during Tropical Storm Isaac.
Whether it's flash flooding after heavy rain, a storm surge at high tide or a rare failure of the region's elaborate drainage system, occasional high water is a fact of life here. It's the flip side of tropical sunshine and palm trees, the price of living in Florida's most rain-prone counties.
Stalled cars and impassable roads are one thing. Inundated septic fields, rotting dry wall, ruined electrical systems, warped flooring, and moldy furniture are something else. Flood damage is incredibly expensive to recover from, even when the flooding is short-lived. One recent storm here caused an estimated $93 million worth of damage.
FEMA has changed a lot of areas to non-flood zones, but almost every property owner in South Florida should have Flood Insurance The flood risk here is extensive, even in areas not declared "high risk" by FEMA.
The cost of a typical federal flood insurance policy is still reasonable, despite a move by the federal government to stop subsidizing the premiums. By all accounts, the risk of flooding in South Florida is only going to grow. Scientists are projecting sea level rise of as much as a foot by century's end. An Independent insurance agent can help you with this very important decision.
Thomas Kuruvilla is the owner of Bill Daly's Insurance and an agent.
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