Do You Need Flood Insurance for Your Miami Home?
Staying On Top of Insurance for Flood Damage in Miami
In many parts of the country, including Miami, flood damage is one of the leading causes of financial hardship among homeowners. The key to overcoming financial trouble after a storm is first to have a robust insurance policy, but even those with homeowners’ insurance may not have the coverage they need to weather the storm. To control their monthly costs, many people opt out of or do not purchase flood insurance, but this can be a crucial misstep.
How Likely is a Flood?
In the Miami area, flood damage is more common than elsewhere in the nation thanks to our frequent yearly and seasonal storms. Whether or not your home sustains flood damage in a hurricane depends on the size of the storm, its direction of travel, and where your home is positioned relative to other buildings in the neighborhood. If your property lies at the end of a street or a slightly lower elevation than the surrounding area, you may be at high risk of flood damage. However, in the event of a catastrophic storm, the entire town could be flooded at once.
What Insurance Covers Flood Damage?
Home insurance covers some aspects of flood damage, such as damage from collapsed chimneys and high winds, but water removal and restoration work may require a special flood damage policy to pay off. What is and is not covered by your insurance may vary depending on your provider and contract, so be sure to get in touch with an insurance representative to learn where your coverage may be lacking.
Is it Worth the Cost?
Flood damage can cost thousands to repair, even with efficient and cost-saving professionals like SERVPRO working on the case. Floods with safety hazards may incur extra costs, as well. A slight extra premium each month can save you from footing a substantial bill the next time a hurricane comes around.
SERVPRO of South Miami is there to help should a storm ever cause significant damage to your home. For any questions or our professional services, call us at (305) 269-8900.
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