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How Much Is Hurricane Insurance In Florida?

Have they heard the phrase hurricane insurance in Florida? We all have. While this is a commonly used term, it does not exist. However, a combination of policies can protect a home from hurricanes and their damages. For example, suppose they are an FL resident and live in a hurricane zone. In that case, Florida Insurance Quotes recommends purchasing as much extra coverage as is affordable.

Florida homeowners are the first step when it comes to protecting a home. They may supplement their policy with windstorm insurance or even flood insurance. A standard wind insurance policy can save a home from some damages caused by strong winds. If heavy winds from a hurricane damage a home, homeowners insurance will help by reimbursing them for those damages. The first half of “hurricane insurance” is windstorm insurance. They can purchase this in addition to a standard homeowners’ policy. In this case, all wind damages will fall under this policy instead of traditional homeowners. It is also essential to understand that carriers usually offer windstorm insurance to customers as a rider.


Hurricane deductibles?

Homeowners’ policies also exclude hurricanes and the damages that come with them, for instance, water damage due to flooding. Flooding is the number one cause of damage in the United States. Therefore, purchasing the right coverage is a smart move. However, never assume that flooding cannot happen. As a Florida resident, it can quickly occur.

While there is no such thing as hurricane insurance in Florida, they may be required to pay a hurricane deductible. A hurricane deductible is an amount they must pay before coverage kicks in. These deductibles are separate from a regular homeowners’ deductible. Usually, a hurricane deductible is between 2-5% of the home insured.

The second half of “hurricane insurance” is flood insurance. When a hurricane roars through a neighborhood, they can expect flooding and water damage. Florida flood insurance covers any water damage to the home and the belongings. For example, suppose a hurricane causes significant flooding, and the water seeps into the house. In that case, a flood policy will be able to cover them.


Why do they need homeowners and flood insurance for a hurricane?

If they have a basic homeowners policy, this coverage is not enough for an FL resident once a hurricane hits. To be covered entirely, they will need to purchase a Florida flood insurance policy. They would be surprised how many people out there decide against this coverage. It is a considerable risk to go without this coverage. If a home gets flooded, they will pay for these damages out of pocket.


How much is flood insurance in Florida?

The cost of flood insurance in Florida is an estimated $540. However, flood insurance prices can vary depending on whether the purchaser lives in a high-risk zone. These prices can range from $150-$2,000. Florida does not mandate flood insurance, but mortgage lenders can require it.

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