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Debunking Myths Surrounding Flood Insurance


Flooding can quickly damage your home and belongings and since we’re still in hurricane season, it’s worth reminding and reinforcing to homeowners that floods are typically not covered in most insurance policies. Though some homeowners’ insurance policies will provide coverage if, for example, a pipe were to burst inside of the home, flooding due to external circumstances may likely require an entirely separate policy.

There are other myths associated with flood insurance. Contrary to what some may believe, flood insurance isn’t limited to just homeowners. If you are a landlord or if you own a condominium, you can also seek flood coverage for your property. Property owners should also be aware that FEMA does not protect unless there is a federal disaster declared. Even then, relief involves a disaster loan that carries low interest and must be repaid.

If your home or property is located in an area deemed to be a low-risk flood zone you may think flood insurance is unnecessary. However, South Florida weather is unpredictable and flooding can happen anywhere. You may find it’s more cost-effective to have flood insurance versus having to pay thousands of dollars for repairs in the event a storm causes damage.

This information is provided by Miami insurance attorney Alonso & Perez, LLP. Our areas of practice include bankruptcy, insurance litigation, foreclosure defense, immigration law, and more. Call 305-676-7545 to speak with one of our attorneys or an insurance lawyer Miami and receive a free consultation We look forward to working with you.

This information is provided for educational or informational purposes only and should not be construed as legal advice. The information is not provided in the course of an attorney-client relationship and is not intended to substitute for legal advice.