Up to $500,000 in building coverage and up to $500,000 in contents coverage for businesses.Īs part of its disaster assistance, FEMA has provided Group Flood Insurance Policies (GFIP) to homeowners and renters after Hurricane Idalia.Up to $500,000 in building coverage and up to $500,000 in contents coverage for five-or-more family residential structures.Up to $250,000 in building coverage and up to $100,000 in contents coverage for single-to-four family residential structures.Coverage is available for residential and commercial buildings and the contents therein: Residents can purchase a flood insurance policy if their community participates in the NFIP, no matter their flood risk. In Florida, 468 communities participate in the NFIP 10 communities do not. There is a 30-day waiting period before new policies go into effect, so don't wait to obtain a policy. Flood insurance coverage is available regardless of federal disaster declarations. Residential and business property owners as well as renters can protect themselves from financial losses by having a flood insurance policy through the NFIP to insure buildings and/or their contents. The flood insurance program has more than 1.7 million policyholders across the state with total coverage exceeding $448 billion. In all, the Hazard Mitigation Community Education & Outreach has counseled over 11,000 survivors on the NFIP and other mitigation measures. After Hurricane Idalia, more than 5,000 flood claims were filed through the National Flood Insurance Program (NFIP) with a total payout over $300 million to date, closing over 85% of the NFIP claims in the first 90 days after the event. One inch of floodwater can cause up to $25,000 of damage in a home.įlooding in Florida is common. When flooding happens, the damage is typically not covered by most standard homeowners' insurance policies. But flooding can happen anywhere, often to the surprise of residents who thought they were covered for disaster. They don't live in a high-risk flood zone. Many Florida residents believe they don't need to buy flood insurance.
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