Flood vs. Water Damage Insurance – Ft. Lauderdale Blog

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Water damage. It's every homeowner's nightmare and water damage in Ft. Lauderdale is a very real threat. Ordinary causes of water damage from washing machines and hot water heaters failing are bad enough, but in Ft. Lauderdale the homeowner also faces tropical storms and hurricanes with their torrential rains and tidal surges. If you find yourself facing squishy carpet or tile floors covered in mud your first thought is probably "who is going to pay for this?" The answer to that question will be determined by what kind of insurance you carry…and where the water came from.

Standard homeowners insurance does not cover flooding. In 1968 the National Flood Insurance Program (NFIP) was created by congress to give homeowners and businesses some level of financial protection against floods. The NFIP sells policies to property owners who live in flood plains and whose local governments have adopted flood control measures. You can purchase the insurance from your local agent or directly from F.E.M.A.

So what's the difference between water damage created by a flood and water damage that's covered by a homeowner policy?

Water Where Water Shouldn't Be

Officially NFIP defines a flood as:

  • A general and temporary condition of partial or complete inundation of two or more acres of normally dry land area or of two or more properties (at least one of which is the policyholder's property) from:
    --Overflow of inland or tidal waters; or
    --Unusual and rapid accumulation or runoff of surface waters from any source; or
    --Mudflow; or
  • Collapse or subsidence of land along the shore of a lake or similar body of water as a result of erosion or undermining caused by waves or currents of water exceeding anticipated cyclical levels that result in a flood as defined above.

In Part II of this blog we’ll take a look at a worst case scenario and see how the two different water damage policies come into play.

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