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Flood insurance is a policy that can be purchased to protect your home and personal belongings from damage caused by outside rising water.    The policy considers outside rising water to be caused from situations such as overflow of inland or tidal waters, unusual and rapid accumulation of runoff  surface waters from any source, mudflow or anything that inundates two or more acres of normally dry land.

Flood insurance will generally cover up to a maximum:

• Residential Properties - $250,000 of dwelling coverage and $100,000 contents coverage
• Commercial Properties - $500,000 of building coverage and $250,000 of contents coverage

Flood Insurance is federally mandated which means the premium for a flood insurance policy is predetermined and should always be the same if accurately underwritten.

It is rated in several different ways.  The main factors are the flood zone and the actual elevation of the home.  Flood zones are identified by FEMA (Federal Emergency Management Agency) as either low, moderate, or high risk areas.  In some cases, you may be in a low risk area and the cost of the flood insurance may be extremely inexpensive.  If you live in a medium to high risk area, you will need an elevation certificate in order to receive an accurately rated policy.  Here in Lee County, if you live in a B, C, or X flood zone, you are not required to carry flood insurance.   If you live in any other flood zone and carry a mortgage on your home, you will be required to carry flood insurance by the mortgagee.

Remember, Florida is an island. We are all subject to a flood in this state.  Often, floods cause severe damage in areas that flood insurance is not required. Please note, your homeowners insurance or commercial business policies do not provide any coverage in the event of a flood.  You have to carry a separate flood policy to be covered.