Pompano Beach, FL, has a population of 112,118 people who call it home. If you own a property close to the ocean, there are specific coverages your policy will need. Flood insurance is one of them that is often overlooked.
Fortunately, an independent insurance agent can help. They work with multiple carriers on your behalf at no cost to you. Get connected with a local expert and start saving today.
What Is Flood Insurance?
Proper insurance for your property is necessary to avoid financial ruin. A flood insurance policy is separate from your other primary coverages. 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 Pompano Beach, FL?
In the south, only 14.00% of all property owners obtain flood insurance. The amount that a flood policy can protect is worth taking a second look at. Check out what your Pompano Beach, FL, flood policy will cover.
- Electrical and plumbing systems
- Portable and window air conditioners
- Furnaces and water heaters
- 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 Pompano Beach, FL?
Personal and commercial insurance will all come with exclusions. Your flood policy will cover particular instances, and they are important to understand. First, knowing what a flood is in Pompano Beach, 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 Pompano Beach, FL?
Your insurance premiums will differ from anyone else. This is because carriers account for your specific risk factors. Items that may affect your Pompano Beach, 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
Flood insurance is regulated nationwide. Similar to workers' compensation coverage, these policies have guidelines set by the government. A professional can help you review your risk and how to insure it.
How Much Is Flood Insurance in Zone AE?
Every property will be assigned a flood zone. You will have to obtain an elevation certificate by getting a recent property survey. FEMA-approved carriers use flood zone rate maps and elevation certificates for your insurance quotes. The difference in flood zone types in Pompano Beach, FL, is as follows.
- 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.
The zone your property is located in will determine the amount of insurance necessary. If you are in an AE flood zone, you'll be paying a higher premium than most. This is because your property is more at risk for flooding than others.
How Much Flood Insurance Do I Need?
FEMA sets a maximum coverage amount per property type. The amount of insurance you'll need will depend on a variety of factors. In Pompano Beach, there have been 27 natural disasters, with 16 of them being hurricanes. The right coverage limits are necessary and 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 coverage should be accurate and sufficient to protect better your Pompano Beach, FL, home or commercial building. There are several policy options you'll need to review. Flood insurance is one of them.
Fortunately, an independent insurance agent has access to multiple markets, saving you time and premium dollars. They do the shopping for you at no cost. Connect with a local expert on TrustedChoice.com to begin.
TrustedChoice.com Article | Reviewed by Jeffrey Green
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