The importance of having flood insurance

by Maria Del "Carmen" Sanchez

Flood insurance is important in Florida due to the state's vulnerability to flooding.

Here are some key points from the search results: Most flood insurance policies currently providing coverage in Florida are underwritten by the National Flood Insurance Program (NFIP)

1.NFIP coverage is typically around $700 a year in high-risk areas, but can be more or less depending on the level of risk and amount of coverage needed

2. Property owners located in low-to-moderate risk areas should ask their agents if they are eligible for a lower-cost Preferred Risk Policy (PRP)

3 . A claim can be filed in the event of losses directly caused by a flooding event

4 . It is important to plan ahead as there is typically a 30-day waiting period before flood insurance coverage takes effect

5 . In some flood zones, flood insurance is affordable at about $1.40 per day (average is $503 a year) and is 100% guaranteed by the U.S. government 6

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