Although Florida is known as the sunshine state for its beautiful weather, flooding is also a stark reality for property owners. Unfortunately, Florida endures a regular hurricane season and heavy storms, so even when a property falls outside an official flood zone, no property can ever be considered completely safe from flood damage. For this reason, relatively inexpensive flood insurance, even when not required due to zoning, is almost always a wise investment.
Flood Insurance Facts
If you do not live or own property in a flood zone, insurance is not required. However, many property owners still choose to carry a flood insurance policy due to the harsh reality of flooding that occurs in Florida. Although evacuation plans are set to keep people safe from flooding, your property stands on its own and needs to be financially protected. Flood insurance policies can vary, but a simple and rather inexpensive flood insurance policy will cover just about any sort of losses caused by flooding. The saying “better safe than sorry” definitely applies when it comes to this type of property insurance.
If you choose to only get flood insurance if you are in a required zone, you should be aware that flood maps and zones are revised on a regular basis. A piece of property that did not require any flood insurance when it was purchased may be moved into an official flood zone category based on recent historical events. For these reasons, it would be wise to continuously monitor your property and its current zone rating.
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 unforeseen flooding events. It is highly recommended regardless of if you live in a flood zone or not.
If you are purchasing property in the state of Florida, and want to learn more about flood insurance, homeowner’s insurance, title insurance, or any other aspects of the closing process, please contact us 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