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Fort Myers Flood Insurance | Are You Covered?

Dec, 10

Florida is a prime flood zone location. Tropical storms, torrential down pours and hurricanes all raining down on a big land formation made of sand and coral with almost no pitch or elevation. Florida’s highest point, Britton Hill, rises to only 345 feet above sea level, with many areas sitting at only 10 feet or less above sea level along the coast. Because of this it takes some time for water to dissipate when it comes down too fast. This can cause flooding in both business and residential areas.

If you have invested in property, the last thing you want is to lose that investment. Being proactive and making sure you have adequate flood insurance is important. Even a small amount of water inside of a structure can do a lot of damage, both to the building and to your bank account.

In a 1,000 ft. structure, even with a minor flood of only 1” of water inside of your home or business can easily cost you up to $10,000 according to The National Flood Insurance Program’s statistics. 3” $11,450, 6” could ring in at over $20,000, 1’ $27,150, 2’ $33,700 and a major flood of at least 4’ of water could cost upwards of $40,000. (source)

It makes sense to protect yourself.

The National Flood Insurance Program offers flood risk maps that can help you identify your community’s level of risk. If your home falls in a high-risk area and you hold a mortgage from a federally regulated or insured lender, your lender is legally mandated to require flood insurance on your property. If your property is paid off, it is not required for you to carry a flood policy, but going without one puts you at a high risk. (map)

It is important to note that people with properties located outside of the mapped high-risk flood areas file over 20% of all National Flood Insurance Program flood insurance claims and receive one-third of all Federal Disaster Assistance for flooding. 

The NFIP paid more than $345 million in flood insurance claims to all policyholders in 2014.

Florida was ranked first in claims with 2,655 filed for a payout of $117,861,100.

There is typically a 30 day waiting period before your flood policy goes into effect. Waiting until there is an upcoming storm isn’t a good option.

To get a quote for flood insurance in your area give us a call here at Centennial Insurance Services a 239-247-5125 in the Fort Myers, FL area or 904-598-1036 in the Jacksonville, FL area and let us get started on a customized quote. www.cisinsfl.com