In the state of Florida, one can never consider his or her property completely safe from flood damage. While lenders require flood insurance in some zones and do not require it in others, we advise that it is always a wise investment to secure a flood insurance policy to protect against damage caused by flooding, regardless of the specific flood zone code.
Being that Florida endures a regular hurricane season and heavy storms, flooding is a real problem that can be quite expensive to rectify. Although evacuation plans are set to protect people from flooding, your property stands on its own and needs to be financially protected. A simple and rather inexpensive flood insurance policy will do just that, covering just about any sort of losses caused by flooding.
If you are comfortable to make your decisions based on flood zones, you should note that flood maps and zones are revised on a regualr basis. A piece of property that did not require any flood insurance when it was purchased because it was not in an official flood zone may certainly be moved into an official flood zone category based on recent historical events. For these reasons, it would be wise to continuously monitor your proprty and its current zone rating.
In summary, the main reason to buy flood insurance is to protect against the unexpected. As a property owner, a flood insurance policy will give you the peace of mind and security that comes along with knowing you and your investment will be covered against any unforseen flooding events.
If you are purchasing property in the state of Florida, and want to learn more about flood insurance, howeowner’s insurance, title insurance, or any other aspects of the closing process, please call today. The law Office of Donna-Hearne-Gousse, P.A. is a full service, attorney based title company located in Royal Palm Beach, Florida.
The Law Office of Donna Hearne-Gousse