Flood Insurance2022-11-28T12:57:39-05:00

Flood
Insurance

Flood Insurance

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Save up to 37% with Fearnow Insurance

Flood insurance is an important level of protection, especially for Floridians.  To best understand the benefits of Flood insurance, there are a few things you need to know first.

Standard Renter’s or Homeowners’ insurance policies do not cover flood damage at all.  These policies may provide limited coverage from damage caused by rain or a leaky pipe, but if your home is filled with water as a result of rising bodies of lakes, rivers, streams, or oceans, then those damages are not covered.

The most common Flood insurance is offered through the federally regulated program, National Flood Insurance Program (NFIP).  You cannot purchase this coverage directly from the NFIP, but rather through an insurance agency.  There are two types of policies available, and you can buy one or both policies:

    1. One that covers your actual home (building property) up to $250,000*
    2. One that covers your personal property up to $100,000

*If you need more than $250,000 worth of coverage, then you will need to purchase Excess Flood insurance.  This is a separate policy not regulated by the NFIP, but by your insurance carrier.

You may be legally required to purchase Flood insurance. Congress has mandated federally regulated or insured lenders to require Flood insurance on properties located in a high-risk flood area (also called a “Special Hazard Flood Area”) before granting the loan.  Even if your property is not in a high-risk flood area, your mortgage lender may still require you to have Flood insurance.  You can also choose to purchase Flood insurance without being required to by your lender as an extra precaution.

What Our Customers Say

I called Joe Boyle at Fearnow insurance as I have existing home insurance with Fearnow today with my home in Tampa which Joe took care for me. I explained to Joe I needed new insurance for my second home 400 miles away and asked if he can help me .In just a couple of days Joe called me with a quote and assisted me thru the complete process and saved me over a $1000.I cannot think Joe enough for all he did for me and my family and resolving this issue.Thank you again Joe Boyle
Rita Lewis
12:25 22 May 24
Mr Lamarr Batittiste helped us again with easy payment to renew our policy. His knowledge of insurance and payment procedures is just what we needed!! We recommend him and already consider him a friend!
melody hendricks
14:35 15 May 24
Fearnow Insurance is far and away one of the best companies I've ever worked with in any capacity. They care. They're also smart and efficient. I trust them with everything I own - cars, home, and especially business. Fearnow Insurance should always be your first call. I give them my highest recommendation.
Todd Wiseman
19:42 14 May 24
They take care of me everytimeThey wrap the flowers very beautifully the prices are reasonable. I live in Fl and my girlfriend is in New York and they are very consistent with delivery and communication.
Juan Villagrana
16:40 03 May 24
Fearnow Insurance exceeded my expectations. Joe was great to work with. Very knowledgeable. After dealing with some issues to get some needed documents, Joe jumped right in and was able to clear things up in a matter of a few minutes.
Mary Brown
09:05 26 Apr 24
Joe is always friendly, prompt, and gets me the best rates. He has helped me for home and auto!
Kelly Roy
22:14 15 Apr 24
My Agent, Joe was great. He tried to help me get the best price that he could. He cares about his clients. He even did a follow up to make sure I didn't have any problems and he will answer any questions you may have
cobra13
14:51 31 Mar 24
Prompt and courteous associate. Reasonable quoted online with follow-up individualized meeting scheduled over the phone to customize the best policy for my unique needs. MARCH 2024 - Just added auto insurance to homeowners policy. Same coverage $600 lower cost. Huge WIN!
Nathan Guteras
22:42 29 Mar 24
Joe is the most knowledgeable agent I’ve ever encountered! Always looking out for his customers!
Bobby Schudler
17:23 29 Mar 24
Thanks to Jennifer Rubio for helping me getting a great insurance policy cover for my family. She's the best.
Cristopher Ramirez
15:21 29 Mar 24

The Fearnow Agency Advantage

  • We work for you, not the insurance carriers, to ensure your claims are processed efficiently and are paid out quickly.
  • Unlike a single-company agency, we have access to over 100 carriers, so we’re never limited in the services we can provide you.
  • We can save you up to 37% in insurance cost, or get better coverage for the same cost.
  • We always provide full disclosure of plan inclusions and exclusions.
  • We offer customized plans tailored specifically to your needs, instead of forcing you into a pre-packaged solution that won’t really work for you.
  • Our agents are continuously training, so they stay the leading experts in their field.

What Constitutes a “Flood”?

In order for the damage to be considered to be caused by a “flood”, the excess water has to cover at least 2 acres of land that is normally dry, or has to have damaged two or more properties, one of which must be your home.  Also, the water must come from one of the following sources:

  • Overflowing inland or tidal waters
  • Unusual, rapid accumulation or runoff of surface water from any source
  • Mudslide
  • When shorefront land collapses or sinks due to waters above “anticipated cyclical levels”

You are not covered, however, if the excess water seepage comes from a sewer or drain backup, or a sump pump that overflows.

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Offices serving the local Tampa, FL and Wilson, NC areas for almost 30 years!

Competitive pricing nationally with world-class customer service!

Who Can Buy Flood Insurance?

Just about anyone can purchase a policy.  You can purchase a residential policy as a renter or homeowner, or a non-residential policy if you are a business owner.

What is Covered Under Flood Insurance?

The property policy will cover the cost to rebuild your home or pay the actual value of your home, whichever is less.  This can include damage to the following areas of your home:

  • The structural walls and beams of your home
  • The foundation
  • Electrical and plumbing systems
  • HVAC equipment such as air conditioning, furnaces, and water heaters
  • Kitchen appliances, including your refrigerator, stove, and built-ins such as your dishwasher
  • Permanently installed carpeting over an unfinished floor
  • Permanently installed wallboard, paneling, bookcases, and cabinets
  • Window blinds
  • Detached garages (limited to 10% of your home policy)
  • Debris removal

The personal property policy will cover the replacement costs (based on actual cash value, and not what you may have originally paid) for the following items:

  • Clothing
  • Furniture
  • Electronic equipment
  • Curtains
  • Window A/C units
  • Portable microwaves and dishwashers
  • Carpets not covered by your building policy
  • Washer and dryer
  • Your freezer and frozen food
  • Up to $2,500 in valuables, such as art or furs

Like any insurance policy, there are limitations to coverage.  Flood insurance does not cover loss or damage to:

  • Precious metals
  • Stock certificates
  • Bearer bonds
  • Cash
  • Landscaping
  • Wells
  • Septic systems
  • Walkways
  • Decks
  • Patios
  • Fences
  • Swimming pools or hot tubs
  • Boathouses
  • Retaining walls
  • Storm shelters
  • Temporary housing and other living expenses
  • Loss of income
  • Cars
  • Post-flood mold damage
  • Sewer backups

Although basements are not common in Florida, they do exist.  The following are not covered for basements (including walkout basements), crawls spaces, or any living space below ground level:

  • Bookcases
  • Window treatments
  • Carpeting, tile, and other floor coverings
  • Some drywall, depending on how far below ground level it is
  • Paneling
  • Walls and ceilings not made of drywall
  • Most personal property such as clothing, electronic equipment, and furniture

Other Facts About Flood Insurance

There’s a Limit to How Often You Can Collect:  If you make four (or more) claims that are over $5,000 a piece; or two claims that cost more than your home when added together, then the NFIP will offer you a grant to make your home less vulnerable to floods.  If you refuse to take the grant money and make the improvements, then you can expect your premiums to increase substantially.

If a Flood Severely Damages Your Home:  NFIP may give you $30,000 to use to raise, tear down, or move your home; which is in addition to any other claim NFIP pays you.  However, the total paid cannot go above the $250,000 coverage limit.

Don’t Wait for An Impending Storm to Purchase Flood Insurance:  There’s usually a 30-day waiting period before a claim will be accepted, although, some private policies offer a 15-day waiting period.

Make a Home Inventory:  Making an inventory of the possessions in your home (include all covered items) to make filing a claim easier.  Also, if you have any major valuables (such as art or furs) be sure to have the appraisal available for the claim.

How Much Does Flood Insurance Cost?

The average cost of a Flood insurance policy is around $600 for the year but the final cost will depend on factors such as the level of coverage, your deductible, the risk level of your flood zone, and the age of the building.

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Service Type: Flood Insurance

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