Got Flood Insurance?

September 20, 2018 | Tower Hill Insurance

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As we’ve learned from recent storms such as Harvey, Irma, and Florence, just because you’re not in a flood zone doesn’t mean you’re out of harm’s way.

According to a recent survey conducted by Hurricane Irma winds in south Floridathe Property Casualty Insurers Association of America (PCI), more than 60 percent of Floridians have not yet purchased flood insurance. Most Florida residents are aware of the importance of preparing for hurricanes and the options available for purchasing windstorm (i.e., tropical storms and hurricanes) insurance coverage; fewer seem to realize that coverage for damage resulting from flooding is not included in most homeowners insurance policies.

Hurricane Irma — September 2017

Hurricane Irma now ranks as the fifth most destructive hurricane for the U.S., with approximately $50 billion in damage. Homes, businesses, and crops were damaged in the storm, with nearly one million claims reported in Florida. Additionally, the National Flood Insurance Program (NFIP) received Hurricane Irma related claims of $1.1 billion as of July 2018. According to the Federal Emergency Management Agency (FEMA), the average NFIP claim payment to Florida policyholders was nearly $50,000. Without flood insurance, that’s a considerable expense for repairs and restoration to have to pay out of pocket.

Costly Repairs

flooded living roomWhen you consider that even an inch of water coming into your home can cause $25,000 of damage, the dollars can add up quickly. It isn’t only your home’s structure that is damaged, but also contents such as furniture and appliances.

Just because your neighborhood isn’t located in a flood zone, doesn’t mean that your risk factor is 0. Flooding can result from rising sea levels, storms and hurricanes, water backup due to inadequate or overloaded drainage systems, or even broken water mains.

Did You Know? “Flooding is the most common natural disaster in the United States,” according to During a 30-year mortgage, for instance, there is greater than a 25 percent chance that the average home will experience some degree of flood damage. In many states, including Florida, home sellers are not legally obligated to inform potential buyers about previous flood damage to the property. It’s important to be informed and also be prepared. Test your flood IQ with this quick quiz developed by the team at How Stuff Works.

The Bottom Line: Why take the risk? Nowadays there are a range of options available for purchasing flood insurance for your home. There is often a waiting period associated with purchasing flood insurance, plus a variety of coverage options from which to choose. NFIP policies are not effective until 30 days after the purchase date. Whereas with a Tower Hill private flood endorsement purchased for a homeowners policy, there is no waiting period required.

Visit our Flood Insurance page or contact your Tower Hill agent today to learn more about our private flood stand-alone policy, private flood endorsement, or write-your-own coverage available through the NFIP.