Buying Flood Insurance in Broward County – Read this First

Just like other areas of Florida, Broward County comes within a designated high-risk flood zone. This means anyone who lives or is planning to move here needs to have a flood insurance policy. This policy is necessary to save the policyholder from incurring major losses if it floods.

Buying flood insurance immediately is going to be beneficial for you in many ways. For one, the average cost of flood insurance in Broward County Florida is at an all-time low. These low prices are major because of competition between several insurance companies in the area.

Most of today’s plans are based on the National Flood Insurance Program (NFIP) plans and guidelines. Plans are in progress to revise the premium for these plans, along with the maps that help determine the risk factor of a specific area. These changes will certainly lead to an increase in the cost of all other flood insurance policies as well. So, if you haven’t bought flood insurance yet and are planning to wait for a while you may have to pay a higher premium for the same policy in the not-so-far future.

Policies You Can Go For

• NFIP: These are the template federal plans that are currently used by most across the state of Florida. NFIP provides coverage for both your home contents and the home itself; however, its coverage is very limited. Moreover, you have to wait for at least 30 days from the day you buy the NFIP plan to the day you can avail benefits under it.
• Private Insurance: These plans are offered by numerous private insurers operating in the state. Most of them have their own custom plans that you can go through before deciding the best one for you. Their kick-in period is shorter too, which means you don’t have to wait for a month after buying insurance to avail its benefits. You can also add or remove the contents of the plan you like to get just the kind of coverage you seek.

Flood Insurance is More Than an Expense

A lot of people consider flood insurance as a part of their homeowner’s insurance policy, which is not true. Also, many of them consider flood insurance as a mandatory expense that they will never get to encash. They also believe that the premium is more than what it should be, so they would wait for a while before deciding if they want the policy.

Since the entire state of Florida is a flood zone, you can never take floods here for granted. A single inch of flood can cause you thousands of dollars in losses. It can flood more than once, which means your losses could double if you are not careful.

Moreover, you can never predict when it will flood or how bad of an impact it may be. Compare that with the current average cost of flood insurance in Broward County Florida, which is around $500 for a year. You may even have to pay less than that for your policy depending upon what kind of coverage you seek and where exactly your home is located.

Get Started Today

Would you like to know how much a flood insurance policy is going to cost you? Then call your area’s leading flood insurance agency today and ask them for a free quote. You can check if they offer customized plans and how those plans can benefit you. Give them a call today to know more.