As a Florida resident, Flood Insurance is almost certainly a necessity. What most homeowners don't realize is that their homeowners insurance does not cover damages from flood. While it will cover some damage from rain, it will not cover losses if your home is filled with water as a result of rising bodies of water.
Flood insurance policies cover your actual home &/or your personal property. You can buy one or both. While some properties require flood insurance, others do not. Regardless of whether you are required to or not, it is an extremely good idea to cover this type of coverage to cover losses.
Flood damage is defined as water that covers at least 2 acres of land that’s normally dry, or it has to have damaged two or more properties (one being your home).
The water must also:
- Come from overflowing inland or tidal waters
- Have unusual, rapid accumulation or runoff of surface waters from any source
In contrast, water that comes from sewer or drain backups, or a sump pump that overflows is not considered a flood.