Is It Too Late To Get Flood Insurance?
What Is Flood Insurance?
Florida Flood insurance is a separate policy that protects your home and personal belongings from external flood waters such as high tides, overflowing lakes and rivers, flash flooding, and even groundwater flooding. In addition, anyone who owns a business should have business flood insurance. Even if you have homeowners' insurance, you should examine your flood risk because most policies do not cover flooding. If you reside in a flood-prone area, flood insurance is especially important.
Who Needs Flood Insurance?
While the state of Florida does not require flood insurance, if you obtain a mortgage from a federally regulated lender, you will be legally obligated to obtain flood insurance if your home is in a high-risk flood zone. Flooding can happen anywhere there is rain. Most people associate a flood zone with a low-lying location or a beachfront home.
While some places are undoubtedly more sensitive to flooding, even if you reside in a low-risk area, your property may flood for a variety of reasons. Flooding is commonly caused in locations where new buildings have altered the natural runoff channels for surplus water, as well as flash flooding produced by hurricanes and other weather phenomena. Flooding can also happen as a result of heavy rains and the flooding of streams, ponds, rivers, or lakes.
When Is It Too Late to Get Flood Insurance?
The key is that you must buy your flood insurance before you experience a flood. When you acquire insurance under the National Flood Insurance Program, coverage normally begins 30 days after the date of purchase. This waiting period may be reduced if you buy flood insurance in conjunction with a mortgage loan or when you are renewing existing flood insurance. Other special situations include when there is a remapping of FEMA’s Special Flood Hazard Areas, or after a wildfire. It is important to note that if flooding occurs during a blackout period, your insurance coverage will not cover the cost of repairing your home or goods.
If you buy private flood insurance, the waiting period is typically between 10–15 days. There are some expectations, such as if you’re getting private flood insurance when your NFIP policy is set to renew. It is important to note that not all states have private flood insurance providers, so ask your home insurer or agent about options in your area.
How To Prepare When Facing A Potential Flooding Event
Stay Informed:
In a crisis, the situation evolves quickly. Maintaining access to a range of warnings, such as a news app, a weather service website, or the radio, is one technique for staying on top of a changing scenario. Even if you have lost power or your phone connection has been disrupted, it is vital to have access to the news. For example, you'll need to know if you are being evacuated or if flood waters are heading your way.
Gather Supplies:
Utilities, roads, and stores may be damaged after a storm hits, making it difficult to find food and water. While FEMA often prepositions food and water supplies to help assist those after a hurricane, it’s important to have supplies ready in case you can’t leave your home.
Some basic supplies include:
Food and water for your family, pets, and service animals for several days. If you have canned food in your kit, make sure you have a manual can opener as well.
Empty containers filled with drinkable water
Flashlights and backup batteries
First aid kit.
Whistle (to signal for help).
Local maps.
Alternate methods for charging a cell phone or radio
Hurricanes Can Cause Major Damage And Present Many Different Risks.
Storm Surge:
A storm surge is an unusual rise of water caused by a storm that exceeds the predicted astronomical tides. If you are trapped in a building, never enter a closed attic where you could become trapped by rising water.
Floods:
Never walk, swim, or drive through a flood. It's difficult to determine how deep the water is or what dangers might be lurking beneath it. A foot of flowing water can sweep away your vehicle, while six inches can knock you down. Stay inside your automobile if it becomes submerged in fast-moving water. If water starts to accumulate inside the car, move to the roof.
Power Outages:
Power disruptions are common during hurricanes. Make a list of the objects that require electricity so you know what you might be without or require backup power for, such as medical equipment or medication that requires refrigeration. If you have a generator, use it ONLY outside and away from windows.