Lakeland Flood Insurance

Your Complete Guide to Lakeland, FL, Flood Insurance

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Lakeland Florida Flood Insurance

If you own a property, your insurance protection should be a top priority. Lakeland, FL, has roughly 112,136 residents who call this place home. If you're one of them, you may need flood insurance. 

An independent insurance agent can help with coverage and premium options. They work with FEMA-approved carriers so that you get the best flood rates in town. Connect with a local expert to get started.

What Is Flood Insurance?

Every property is at risk for flooding. In Lakeland, FL, you're close to the ocean, and that can cause more exposure to floods. To obtain the right protection, take a look at how flood insurance can help.

  • Flood insurance: This type of property insurance covers a structure for losses due to a flood. This is caused by snow melting, storm surges, heavy rainfall, storm drainage system failures, and even levee dam system failures.

What Does Flood Insurance Cover in Lakeland, FL?

In the South, there are only 14.00% of people obtaining flood insurance. If you're without a flood policy, you could be on the hook for thousands of dollars in damage. Take a look at what your Lakeland, FL, flood policy will cover.

  • Electrical and plumbing systems
  • Portable and window air conditioners
  • Furnaces and water heaters
  • Appliances 
  • Carpeting
  • Built-ins
  • Window treatments
  • Valuable items
  • Foundational elements 
  • Detached garages
  • Fuel tanks
  • Well water tanks and pumps  
  • Solar energy equipment
  • Personal belongings

What Does Flood Insurance Not Cover in Lakeland, FL?

Every commercial insurance or personal policy will have exclusions. Your flood insurance will cover a direct flood loss. Anything else will typically be excluded. First, knowing what a flood is in Lakeland, FL is essential.

  • What is considered a flood: A flood is an excess of water on land that is usually dry. This typically is classified as affecting two or more acres of land or two or more properties. 

Losses that are generally excluded from your flood policy

  • Water/sewer backup
  • A burst pipe
  • A waterline malfunction
  • A roof leak

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How Much Is Flood Insurance in Lakeland, FL?

Like your other insurance coverage, your premiums will be unique. Carriers take your personal data and outside factors to figure your costs. The following items may affect your Lakeland, FL, flood insurance.

  • The location of your property
  • The flood zone of your property
  • Whether the property is residential or commercial
  • Your insurance score
  • Your loss history
  • Prior coverage history

FEMA regulates flood insurance across the nation. Similar to workers' compensation coverage, your flood policy has guidelines determined by a government entity. FEMA sets the rates and flood zones.

How Much Is Flood Insurance in Zone AE?

Your personal or commercial property will have a zone assigned. Zones determine how at-risk your property is for flooding. The difference in flood zone types in Lakeland, FL.

  • Flood Zones B, C, and X: These are low to moderate flood risks and usually less annual premium for a flood policy. Insurance is typically not a requirement by your lender for this zone type.
  • Flood Zones A and V: These zones are your high-risk locations and the most significant change for a flood loss. Your premiums will be more expensive, and lenders require flood insurance.

Flood zone rate maps and elevation certificates are used by carriers when quoting your policy. The flood zone FEMA assigns you will decide how high or low your premiums are. If you're in an AE flood zone, you'll pay top dollar for coverage.

How Much Flood Insurance Do I Need?

The average cost of flood damage per year is 5,552.62 million dollars. Coverage amounts will be based on your asset and zoning. FEMA allows up to a maximum limit per property type. They are as follows.

  • Flood insurance for your home: Flood carriers usually offer $250,000 for the building and $100,000 for the building contents.
  • Flood insurance for your business: Flood carriers usually allow $500,000 for the building and $500,000 for the building contents.
  • Flood insurance as a renter: Flood carriers typically offer $100,000 for contents-only coverage. 

How an Independent Insurance Agent Can Help

If you're searching for adequate coverage for your property, consider using a licensed professional. There are several insurance policies you could need when protecting your assets. Flood insurance is typically one of them.

Fortunately, an independent insurance agent can help. They have access to multiple markets so that you get the best coverage for an affordable price. Connect with a local expert on for FEMA-approved quotes. 

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