Flood Insurance in Coral Gables, FL

Flood insurance may help cover losses caused by rising water, which standard homeowners insurance usually excludes. With weather events becoming less predictable, flood insurance can be a crucial form of financial security.

Who Needs Flood Insurance?

Flood insurance can be valuable for:

• Homeowners in both high- and moderate-risk flood zones

• Renters who want to financially protect their personal property

• Business owners seeking to minimize financial loss from flood damage

In some cases, your mortgage lender may require flood insurance, especially if your property is in a designated flood zone.

What Does Flood Insurance Cover?

Standard flood insurance typically covers two main categories: your dwelling and personal belongings.

• Dwelling coverage may apply to your home’s physical structure, including walls, flooring, electrical systems and plumbing.

• Personal property coverage may pay to repair or replace personal items, such as appliances, clothes and furniture.

Like other policies, flood insurance has exclusions. It usually does not cover damage caused by moisture, mildew or mold that the homeowner could have avoided, as well as damage to items stored in basements or crawl spaces (like electronics or carpeting). Additionally, coverage typically does not extend to temporary housing costs, vehicles or financial losses due to business interruption.

How Much Does Coverage Usually Cost?

The cost of flood policies changes depending on your location, the age of your home, the building’s design and your chosen coverage limits. Homes in high-risk flood zones usually carry higher premiums compared to those in lower-risk areas. While rates differ, the expense of a policy is often much lower than the cost of repairing significant flood damage without coverage.

Get Flood Coverage Today

The agents at B.I.A. & Company can help you learn more about flood insurance and discuss suitable policies. Contact us today to get a free quote.