I called my agent to inquire about a flood policy as we are coming into hurricane season, and always good to have an extra layer of protection. My house is not in a flood zone, but on a flat yard, so it's not required and used to be pretty inexpensive when optional.
What I did find out is that all flood insurance policies in FL are based on a condition that if you flood by an outside water force intruding into your house, you also have to have (2) additional homes near yours that also have flood damage present at the same time.
Your flood policy will not pay out if you are the only one with damage and none of your neighbors do not have any. If you and 1 neighbor have damage, nope will not pay, has to be 2 additional homes.
Moral of the story: Make sure you don't buy a house in a gully or at the bottom of a hill. Your flood policy will not pay out if only you end up with a problem.
That was an eye-opener for sure!
Any inside pipe burst, water heaters etc are covered by your hazard insurance. |
