A statement from Florida Loss on COVID-19

Florida Loss Public Adjusters, Inc. - State License# E109802 |

(954) 430-7333

Most people don’t understand all that much about insurance. And, there’s nothing wrong with that. It’s not your job to know everything there is to know about insurance. That is, unless you’re an insurance salesman or adjustor. So, when it comes to knowing who is required to carry flood insurance, it can be confusing. Here, we’ll talk about the federal and state requirements when it comes to flood insurance. We’ll also discuss how your mortgage company feels about your carrying this kind of insurance. The good news is that, if you aren’t sure what is best for your home, you can call and talk to a flood damage adjustor in Florida and they can answer any questions you may have.

The Federal Government May Require You to Carry Flood Insurance

A lot of people think they only need to buy flood insurance if they live in a high-risk flood zone. For example, if you live on the coast in Florida, then you should have flood insurance. This would be the case whether the government requires you to have it or not. Generally speaking, however, the federal government does require certain homeowners in Florida to carry flood insurance. Here are some guidelines when it comes to who needs to have this coverage and who doesn’t need it:

  • If you live in a high-risk flood zone, you are required to carry flood insurance
  • When you live in a coastal zone, you need this coverage
  • If you have a mortgage on your home, you do need to carry flood insurance, depending on where your house is located

Why Would the Mortgage Company Demand You Have Flood Insurance?

Until you make the very last payment on your mortgage, you do not own your home outright. Just like with your car, until the loan is paid off, it belongs to the bank. If you owe $100 on your house and you don’t pay it in time, the bank can technically foreclose on your home. To protect their interest in your property, they require you to carry certain types of insurance. This way, if something happens to your home and it’s destroyed, they can receive their proportion of the insurance proceeds.

If you aren’t quite sure what kind of insurance you need, call our office. Let one of our Florida flood damage adjustors help answer any questions you may have.

(954) 430-7333