Living in Florida is at times is a risk, especially during storm season. The event of a hurricane hitting the state is very common and can lead to a tremendous amount of flooding that can damage your home. After a flood, many Floridians often can find themselves surprised when they learn their insurance policy does not cover flooding. As crazy as it seems, a lot of them do not. You as a policyholder need to ensure that your plan covers flood damage. Here at Your Insurance Attorney, we are committed to our clients and want to ensure the law protects them. Our property damage attorney Miami office is licensed to adjust and litigate your insurance claims. Contact us today!
They Are Not The Same
It is essential to understand that flood insurance and homeowners insurance are entirely different. They are separate. They provide independent coverage for different types of loss. Specifically, homeowners insurance does not cover water damage from floods. An experienced property damage attorney Miami firm will ensure you get all the information you need to know about different insurance companies, and what they specifically cover.
What is Considered Flood Damage
If you want your damage to be covered, first things first, there has to be a “flood” in your area. A “flood” is considered as a condition when water covers at least two acres of land that is normally dry or id the water condition has damaged two or more properties in your area.
A flood is needed to come from three different locations in order to be covered::
- Overflowing or inland tidal waters
- Unusual, rapid accumulation or runoff of surface waters from any source
- Mudflow
Depending on the circumstances, there may also be coverage for waterfront land that collapse or sinks as the result of water that is above anticipated cyclical levels.
How Much Is Covered?
There is a cap for damage. The maximum available coverage limit for flood insurance is currently 250,000 for your principal dwelling (the unit of accommodation) and $100,000 for personal property (belongings, movable property). Unlike the coverage that is available under your homeowner’s insurance policy, the building coverage under your flood insurance policy is very specific to what it actually covers and what it does not cover. It is good practice to look over your policy before a loss in order to better understand the limited coverage that flood insurance actually provides.
When it comes to personal property loss under flood insurance, it is even more limited, especially for items in a basement. Typically, the only personal property covered below the lowest elevated floor would be your laundry equipment, portable air conditioners, and freezers. The insurance companies are very specific when it comes to this. An example would be if you had a fridge and freezer stored in your basement, the insurance will only cover the freezer. To make it even more frustrating, your flood insurance company will only cover your personal property on an actual cash value basis. If you had a TV you paid over $1000 for a few years ago, chances are that value of that TV has lowered and you may now only be getting $600 for it.
Call Us Today For More Information
Here at Your Insurance Attorney, we are professionals committed to aiding you when it comes to dealing with insurance companies during flood damage. We will work with you or public adjusters all over the state of Florida, especially Miami. We genuinely care about getting results for you and accomplishing a result that satisfies your needs. Our goal is to help you through great representation from start to finish. Our property damage attorney Miami office will fight for you. Contact us today!
