It’s not easy to understand flood insurance as everyone’s needs and risks are different. By talking to an insurance agent, you should be able to find a policy that fits those needs. Before having that conversation, consider asking these questions about flood insurance in Nocatee.
Do I Really Need Flood Insurance?
Anywhere it rains, it may flood. Some lenders require buyers to have flood insurance in order to get a mortgage. Even when it’s not a requirement, and even when you don’t live near the water, there’s a real risk of flooding. Just an inch of water can cause tens of thousands of dollars in damage, so it’s important to be prepared.
I Rent my Home. Do I Need Insurance?
Flood insurance isn’t just for homeowners; renters can benefit as well. Though the damage done to the home’s structure would be the owner’s responsibility, your personal property wouldn’t be covered. Here, a flood insurance policy would give you the coverage needed to replace your belongings.
Do I Live in a Flood Zone?
FEMA (the Federal Emergency Management Agency) has a map that shows your flood risk. Those risks are split into three different categories, as shown below.
- High-risk areas have a minimum 1% yearly risk of flooding.
- Moderate/low risk areas have less than a 1% risk, but there’s still the potential for a flood.
- Undetermined risk zones are those where flood risk analysis hasn’t yet been done, but the risk is still there.
No Matter Your Risk Level, Flood Insurance in Nocatee Is Still a Good Idea
Whether you’re a renter or a homeowner, you should consider purchasing a flood insurance policy. You may not need it for years, but should the need ever arise, you’ll be glad you have it. For more information on flood insurance in Nocatee, consult an insurance agent in the area.
