One thing that you will learn about Miami Beach, FL is the strong chance of flooding in the area. With all of the beauty that is this beach city remains the imminent threat of water rising and destroying your home. Such is the reason why you need flood insurance if you own a home. What does the insurance policy cover, though? The agents at Assure-Us can make things clear. 

Flood insurance is mandatory in Florida.

You cannot secure a home loan in Florida without purchasing an indemnity plan that covers flooding. Some buyers believe that a standard assurance policy is all-inclusive of hurricanes, tornadoes, and other natural disasters involving water. The truth, however, is that your standard indemnity policy leaves you in the cold when water invades your home. You will need to show lenders more than basic homeowner’s insurance for them to grant your request for a mortgage. 

What does flood insurance cover?

There are essentially two ways to obtain flood insurance: either by way of federal government or through private coverage. The National Flood Insurance Program (NFIP) has two policies meant to cover both your residence and personal possessions. The building property portion of insurance pays up to $250,000 for structural damages. Meanwhile, the personal property aspect of flood insurance offered by the NFIP pays up to $100,000 for personal property lost during a natural disaster involving water. You can purchase one portion of assurance offered through the NFIP or opt to buy both plans for added protection.

Those who personal and building properties exceed the limits set forth by the federal government will need to purchase additional insurance to ensure financial stability after a storm. The agents of Assure-Us can make sure that you have the right coverage for your home in Miami Beach, FL. Call them today for a flood insurance quote!