According to an article from the Tampa Bay Times, the number of Florida residents with flood insurance is less than 20% statewide. This is true despite the fact that the dangers of flooding, whether caused by the weather, construction or the rapid development that is rapidly overtaking even hitherto untouched parts of Florida, have increased the chances of flooding throughout the state, even in areas that previously did not flood. This is particularly concerning on a number of levels, given not only the recent increases in storms hitting all parts of Florida as well as that the typical homeowner’s insurance policy does not include coverage for flood-related damage.
Alarming Numbers of Uninsured Residents
In some parts of Florida, the numbers of residents without flood insurance are even worse. In Central Florida, for instance, the number of homeowners who carry flood insurance is only 6%. This leaves residents of those areas particularly exposed if they were to experience a large storm or flooding.
Concerning Given Recent Storm Seasons
The low numbers of Floridians who carry flood insurance also is extremely concerning given the number of storm events over the past several storm seasons. Storm seasons been more active than they were even five years ago. More rainstorms and the resulting flash floods are occurring to many low-lying areas or even inland areas of the state that never experienced flooding in the past.
Concerning Given the Limits and Exclusions Of Flood Insurance Policies
Given that homeowner’s insurance policies typically exclude any damage caused by flooding from groundwater, the lack of available flood insurance in the event of rainstorms or construction-related water intrusion is a particular problem for Floridians. Even for those with flood insurance, the amount of coverage available through the National Flood Insurance Program (NFIP), the federal program through which most homeowners obtain flood insurance can be limited in ways many people may not understand before they are forced to file a claim under their existing flood policy. According to a story from Orlando’s News 6, the NFIP policies and the program itself has many drawbacks and limitations that people may not understand when they first purchase a policy. First, there is a 30 day waiting period before the coverage kicks in. If you suffer a flooding event and try to retroactively purchase a policy or a storm headed towards your area, you cannot purchase a policy, to provide immediate coverage if your home or property floods. NFIP policies also lack many of the protections available under other forms of insurance. Homeowner’s policies, for example, may be regulated by the state insurance commissioner and also have a formal claims dispute resolution process. THe NFIP, by contrast, does not.
Contact the Florida Flood Lawyer
If you are in need of assistance because your home or business has been affected or damaged by flooding, whether covered by insurance in part or not at all, we at Florida Flood Lawyer can help. Contact us today via email for a free consultation regarding your options.
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