Palm Bay Flood Insurance

How to obtain coverage through a trusted adviser

Written by Candace Jenkins
Written by Candace Jenkins

Candace Jenkins is a licensed insurance advisor with over a decade of experience. She is also a writer and loves to write on all things insurance. Candace writes for on a continuous basis and is here with the facts about all your insurance inquiries.

Reviewer: Jeffrey Green Reviewed by Jeffrey Green
Reviewer: Jeffrey Green
Reviewed by Jeffrey Green

Jeff Green has held a variety of sales and management roles at life insurance companies, Wall street firms, and distribution organizations over his 40-year career.  He was previously Finra 7,24,66 registered and held life insurance licenses in multiple states. He is a graduate of Stony Brook University.

Palm Bay Florida Flood Insurance

Palm Bay, FL, has roughly 115,552 residents. When you own a home or business property, then coverage is necessary. Adequate protection will include a flood insurance policy.

Fortunately, an independent insurance agent has access to several carriers. This will give you options on policy and premiums. Get connected with a local adviser for tailored quotes.

What Is Flood Insurance?

When you live in Palm Bay, FL, flood insurance is crucial. Coverage for a flood is a separate policy and is especially necessary for properties near water. 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 Palm Bay, FL?

The average cost of flood damage per year is 5,552.62 million dollars. If you're looking for quotes, it's good to know what flood protection will insure. Take a look at what your Palm Bay, 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 Palm Bay, FL?

Every policy will have exclusions. Your personal and commercial insurance policies will exclude a flood loss. First, knowing what a flood is in Palm Bay, 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 pipe burst
  • A waterline malfunction
  • A roof leak

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How Much Is Flood Insurance in Palm Bay, FL?

All your insurance costs will vary. They are personalized to your specifications and assets. Items that may affect your Palm Bay, FL, flood insurance are the following.

  • 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

Like workers' compensation insurance, your flood policy is regulated. FEMA will set rates and flood zones for each location. There are specific carriers that FEMA approves for quoting.

How Much Is Flood Insurance in Zone AE?

Flood zones are assigned to each location in the US. FEMA has a flood zone rate map as well as an elevation certificate for properties. The difference in flood zone types in Palm Bay, FL are the following.

  • 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.

If you're in an AE flood zone, you're going to pay more for flood insurance. When you are in zones A and V, you're required to carry coverage when you have a mortgage. This will protect your interests as well as the lenders.

How Much Flood Insurance Do I Need?

In Florida, there are 1,765 reported flood losses per year. The amount of coverage needed for your property will depend. Your property's specifics play a role as well as the maximum amount FEMA allows. 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

Your Palm Bay, FL, assets need protection for all the what-ifs. When a flood occurs you'll be out thousands of dollars without proper coverage. Fortunately, a flood insurance policy can help. 

An independent insurance agent has access to multiple carriers so that you get the best options. They work on your behalf at no cost, making it a no-brainer. Connect with a local expert on for more details. 

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