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Making sure that you have adequate home insurance coverage starts with connecting to an agent that will understand your needs. Of course, you have to take a proactive approach to ensure you get the home insurance coverage that you need.


The right home insurance company will offer comprehensive homeowners insurance including flood insurance. It is up to you to make sure that you choose the right company and share all the information that needs to be shared.


What Type of Home Insurance Do You Need?


About 85% of homeowners are insured for their homes, however, a large portion of homeowners are not aware that they can customize their plans to ensure that they have the comprehensive coverage that they can count on. The first step in getting the policy that will give you the coverage that you need is knowing that you have options.


Unlike auto insurance that often comes with set limits, home insurance can be more flexible with those limits. For example, let’s say you and your neighbor have the same exact home, but you have made improvements to your property, they have not. That means that their homeowner’s policy will have different limits and different coverages than you do.


Disclose These Things


Many homeowners have found out the hard way that it is always best to let your agent know about any changes to your property. Ensuring that you have the best home insurance Englewood FL has to offer means giving the insurance company the information that they need to help provide the coverage that is customized to your needs.


It is important when you are securing your plan or to make changes to your current plan that you speak to an agent and you discuss any changes that you have made to your home including:

  • Any upgrades. If you added anything new to your property like fencing, a pool, or made other improvements that have increased your property value, disclose that information to your agent. You want to be sure that everything is covered just in case of a covered incident like a fire.
  • Any new structures. If you have added a new storage building, added an addition, or added any other types of structures, let your agent know.
  • Any pre-existing damages.

Getting the right insurance in place will deliver the peace of mind that you need, and help to protect your investment. Connect with the right home insurance company and rest easy knowing you are covered.

Close up of Flood insurance policy Form

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When homeowners file a claim with their home insurance company, 76% of the claims are based on wind, water damage, hail, weather-related water damage, and theft. In the specific case of weather-related water damage, it may be more appropriate to file a flood insurance claim. If you’ve never used your flood insurance policy before, you may not be sure how to proceed. Here are some tips on how you should handle a flood insurance claim.

Itemize your possessions before a flood happens

Being prepared in advance can help your claim go more smoothly. Create a list of all your possessions in your home or business. You can create a section on your list for each room and write down the items inside. Include the modal numbers, the serial numbers, the date it was purchased, and a description of the item. You should even write down possessions such as your pictures, plants, and the contents in your drawers or cupboards. Additionally, if you can, take photographs or video of your items as well. Preparing this list now will help prove the loss you suffered and help you receive as much money as you need from your insurance company.

Contact your insurance agent in a timely manner

When your home has been damaged by a flood, you need to contact your insurance agent at the soonest possible time. Inform them you’ve suffered losses and that you plan to file a claim. If you’re unable to stay in your home because of the damages, give them information about how you can be contacted. Your agent will give your claim to an adjuster, and the adjuster will provide you the required forms you’ll need to fill out to move forward.

Organize your items after the flood

Once the flood waters have receded, if it’s safe to enter your home, go through each room and separate the damaged and undamaged items. Dry the items that are wet, such as clothing or linens. Some of your possessions may be able to be restored through cleaning them or doing minor repairs. Mark up which items on your inventory list are damaged or lost. Photograph the water in your house and take photos or video of the damaged property. You shouldn’t throw out any possession that’s damaged unless your adjuster agrees to it. Your adjuster will review your claim, inspect your list of damaged possessions, and work with you to calculate the value of your items and the repair estimate for the damage to your property.

Any damage to your possessions can be a challenging time. Whether you have auto insurance, home insurance, or a flood insurance policy, it’s important to be prepared ahead of time before you need to use it. Following these tips can help you get the most out of your flood insurance policy, and make dealing with the aftermath of a flood a little easier.

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Health insurance continues to be a hot-button issue in the United States — and for good reason. As both healthcare costs and insurance premiums increase, many Americans are understandably concerned about how they can possibly afford to protect themselves in the event of an illness or injury. With that in mind, it’s no wonder that 8.5% of U.S. residents — or 27.5 million people — had no health insurance at any point during 2018.


However, that doesn’t mean it’s wise to dismiss help from a health insurance company and go without insurance coverage. Having insurance coverage of some kind can provide a safety net that many Americans badly need. But if you can only afford a plan with a high deductible (and therefore a lower monthly premium), you might be concerned about how you could afford necessary treatment before you reach that deductible. That’s where the topic of today’s post will come in handy.


What is a Health Savings Account?

Health savings accounts, or HSAs, are basically personal savings accounts that can be used only to cover medical expenses. They’re meant to help cover patients who may be facing substantial out-of-pocket costs when dealing with an illness or injury. HSA contributions (the amounts of which can be chosen by the account holder at the beginning of each year) are tax-free and will roll over from one year to the next, making them an attractive solution for many Americans.

That said, not everyone is able to open an HSA. You need to be enrolled in a high-deductible health insurance plan in order to qualify for an HSA. Keep in mind that some plans with higher deductibles still won’t count; you need to enroll in a plan that’s designated as being HSA-eligible by the government in order to qualify. These plans may not be the best option for those who anticipate having more significant healthcare expenses, as policies with higher premiums may cover a greater percentage of healthcare costs.


Are HSAs Necessary If You Have Health Insurance?

You might assume that if you already work with a health insurance agent Florida residents rely on to secure coverage, you won’t need an HSA. But if your policy has a four-figure deductible, you may not have as much financial help as you’d think. While the occasional doctor’s appointment might be doable, an emergency room visit or unexpected surgery could represent a major burden.

If you’re able to establish an employer-sponsored HSA and can automatically make contributions from each paycheck, you’ll be able to automatically generate funding for medical bills that will help you until your plan’s deductible is met. This can make all the difference in the event of a health crisis, particularly because you’ll have control over how much you contribute to your HSA and can avoid paying more for monthly premiums you might never have to use.


How Are HSAs Used?

HSA contributions can be used only in specific ways. For example, you can’t use these funds to pay for insurance premiums (in most cases), cosmetic surgeries, or personal care items. However, you can use this fund to pay for dental or vision care costs, as well as for the diagnosis, treatment, or prevention of disease and injury. You’ll want to talk with healthcare insurance companies in Florida to determine precisely how these funds can be utilized and whether you’ll incur any kind of penalty for use (which may occur if the patient is under 65). However, HSA contributions can be used for the policyholder, their spouse, and any dependents they may have.

In many cases, having healthcare insurance coverage may not be enough. Having an HSA can allow those with high-deductible insurance plans to establish and make use of a safety net in the event of a medical emergency. To learn more about opening an HSA or other health coverage topics, please contact us today.

life insurance

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Almost 60% of Americans have a form of life insurance. Are you part of that 60%? It can be difficult to understand everything you should about life insurance. What type of policy should you have in regards to terms? When should you get a policy? Do you know what you want or really need? One thing that holds true no matter what is that the moment you get married and start growing older is the precise time you should have life insurance put in place for your loved ones. This type of insurance is a fundamental part of sound financial plans. It can be an inexpensive option that gives you important coverage. Continue reading to learn about 6 vital reasons you should have life insurance in place.

1. Leave Loved Ones an Inheritance


You may not have a lot of assets to pass on to family, but you can still create a good inheritance when you have a life insurance policy in place that names beneficiaries. Essentially, you will be making sure your kids, otherwise known as dependents, have a solid financial future. Their monetary needs will be handled so they can continue to live a life similar to the one you provided them. You could even take out a policy that would pay for their college education when the time comes. No matter what, knowing that you’ve provided for your family after you are gone is comforting.

2. Protect Loved Ones and Family


Are you depended upon for financial support? If so, then life insurance is necessary. It will replace the income you provided for your family after you pass. If you are already a parent of young children, it would be difficult for a single parent to sustain a comfortable standard of living with a loss of income. The right insurance policy will make sure that there are plenty of funds for loved ones and family in regard to household expenses and growing family needs.

3. Life Insurance Offers Peace of Mind


No one knows when their time will come. Such uncertainty calls for coverage that gives you and your family peace of mind. While money cannot replace you, it can help protect others against the uncertainties of life. There is no question that monetary protection will be there when needed. Your spouse and children will be well taken care of when you are gone. Take care of your heirs during such a difficult time of grief and loss that can also be expensive. Life insurance benefits everyone.

4. You Can Never Have Enough Financial Security


You want to know that your family will be safe when you are gone. That calls for financial security in regard to their future. The right policy in place will leave enough funds to help them follow their dreams, have a beautiful wedding, start a family business, get a better education or enjoy life ventures that would otherwise have been impossible to follow. Get additional coverage while your children are young and add more financial security to their future.

5. Pay Off Expenses and Debts


Over time it is natural to ecru expenses and debts. When you have insurance in place, you will be providing the coverage needed to pay off expenses and debts. This can include credit card debt, medical expenses, a mortgage, funeral expenses, car loans and more. Don’t put your parents, spouse, loved ones, or children in the position of being left with a huge financial burden. Take out an insurance policy that eases heavy financial burdens now.

6. Avoid Dealing with Probate


Name a beneficiary to keep your insurance proceeds from going into probate. This will save any delays when it comes to survivors being able to claim funds. You can learn how to protect your loved ones in regards to how your policy is set up when you speak with knowledgeable insurance companies. They can also assist you with other types of insurance such as home insurance, auto insurance, health insurance, and flood insurance.

insurance for floods

Posted by & filed under Personal Insurance.

For many home owners, flood insurance is dismissed as unnecessary. They believe they do not need insurance for floods because they already have home insurance. If a storm hits, these home owners believe that their home insurance company will cover all the damage even without a flood insurance policy.

This is not correct. In floodplain areas designated by the U.S. government, home insurance excludes damage due to flooding. The reason is that the U.S. government has set standards for flood insurance to ensure that policies and premiums are consistent and reduce the burden on insurers and underwriters in the event of catastrophic flooding.

Here are four events that are not covered by home insurance, but rather insurance for floods:

Storm Surge

Florida experiences tropical storms, tropical depressions, and hurricanes regularly. While wind damage is covered by home insurance, storm surge is not.

Storm surge is a rapid rise in water levels along coastlines caused by strong winds. Storm surges push water levels above the expected tide line and can cause flooding and water damage to structures near the shore.

If your home sustains damage during a storm, home insurance is only responsible for non-flood damage. Thus, a home insurance claim for roof damage due to wind may be paid, but a claim for water damage to carpets due to storm surge may be denied. Insurance for floods, however, does cover water damage from storm surge.

Overflowing Rivers

When slow rolling rain storms move in, your home may be safe from storm surge. However, nearby lakes and rivers may overflow their banks, flooding yards, roads, and your home.

Home insurance does not cover water damage from overflowing lakes and rivers. Rather, flood insurance is needed to cover any damage when rain causes lakes and rivers to flood your home.

Heavy Rain

Heavy rain can saturate your yard, flood your home, and even trigger mudslides. Damage caused by rainwater and mudslides are not covered by home insurance. It may seem like a strange line to draw, but home insurance in floodplains only covers water damage due to internal sources of water, such as a broken water pipe. This means that damage from water and mudslides caused by external sources, like rain water, are only covered if you have flood insurance.


The movement of flood water through the ground causes instability in the soil that can cause ground collapse and subsidence. Even if your home is spared water damage during a flood, the flood may literally cause the ground to shift under your home. Ground collapse and subsidence due to flooding can damage your home’s foundation, floors, and walls. Damage caused by ground collapse or subsidence resulting from floods is not covered by home insurance, but only by flood insurance.

Home insurance is essential to protecting your most valuable asset. However, to be fully covered against catastrophic loss, flood insurance can protect against damage caused by floods.

business insurance

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Roughly 60% of Americans have a type of life insurance. Even so, business insurance is equally important. Owning a business in the 21st century can be like a minefield filled with explosive mistakes and missteps. You might not realize when overlooking important obligations or overspending in given areas. Purchasing the correct insurance type is a must-have for any business owner. However, pinpointing the best business insurance Venice FL has to offer can be an uphill task due to the many options available. Sadly, many business owners end up regretting after rushing into signing up for commercial insurance. Discussed below are common mistakes that business owners make.

1. Opting for the Cheapest Policy

Be it auto insurance or business insurance, we all want to save an extra dime in today’s harsh economy. However, choosing the cheapest insurance for businesses could cost you more down the line. A cheap policy comes with the risk of not having enough coverage should the need to file a claim arise.

The best way to save money is by working with an independent insurance agent. Independent agents are in a position to get several quotes as well as offer professional guidance on local requirements. Therefore, discussing your unique business insurance needs with an independent agent will help know the best option.

2. Failure to Read and Understand the Policy

From the life insurance to auto insurance Venice FL offers, all insurance policies contain crucial information. These include refund policies, deductibles, and coverage limits. Although the policy might seem an expansive document, reading it gives you a clear picture of what you’re getting yourself into. Skimming through the policy might shock you when filing a claim.

Reading the policy means that the insurance agent will answer any question(s) you might have. You might even note that the policy doesn’t cover certain losses. Therefore, you will ask for additional coverage to fill any gaps.

3. Not Insuring Potential Income Losses

Business owners view disaster as a situation whereby physical assets are at risk. Your business will most likely suffer income loss due to downtime after sustaining damages. Income loss can be a big setback should you have to close doors for repair purposes. Without business insurance coverage, getting back on your feet might be arduous or perhaps impossible.

To prevent this, talk to your preferred insurance firm about business income coverage. Having this coverage means that the insurance company will reimburse lost income should damage force you to close down. There is also the possibility of expenses such as electricity bills and rent getting paid. With such cushioning, you’ll be back in business soon enough as though nothing happened.

4. Sticking to One Insurer for Many Years

Working with an insurance agent who has always offered quality services for years should be your priority. However, there are times when business owners stick to one insurer even when at a disadvantage. Making a change is wise in case your insurance firm starts changing in a manner that does not meet your business needs.

Asking yourself a few questions will help assess if your current insurance company is the best. They include:

  • Is quality reducing as monthly premiums increase?
  • Is your insurer somewhat not interested in your type of business?
  • Are their services outdated

If your answer to these questions is yes, now is the best time to shop for a new insurance company ready to address your needs.

5. Failure to Make Insurance Adjustments despite Business Growth

Now that business insurance keeps losses at bay, your policy is something that needs reviewing from time to time. Your business’s value is likely not where it was a few years ago, right? Your insurance needs to reflect the change.

In order to have your business at par with its insurance needs, always keep your insurer updated about your company. For instance, inform the insurance agent whenever you buy new vehicles, hire new employees, or expand your business. Don’t hesitate to adjust your policy should such changes arise.

6. Overlooking Employees’ Compensation

Employees are an integral part of your business and overlooking their safety is a step in the wrong direction. Thanks to business insurance, it’s possible to even cover leased employees or contractors today. The lack of workers’ insurance cover can dent your business after compensating injured employees.

home insurance company

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In Florida, it is not mandatory to get flood insurance. This may seem contradictory since it may be an important requirement for your mortgage loan. Getting a flood insurance policy can be critical for those who live in a moderate-to-high risk flood zone.

History of Storms in Florida

Florida is susceptible to storms due to low elevation and westerly winds from the tropics and equatorial Africa. Up to 41% of hurricanes recorded in the United States make their landfall in Florida, making it a frequent target.

Out of 292 hurricanes to hit the U.S., 120 have made their way through the sunshine state. The northwestern areas receive lower temperatures than most of the other parts of the state and its location on the Gulf of Mexico. When a hurricane makes landfall, the low pressure strengthens its power. Out of the 120 hurricanes that have gone through Florida, the northwestern regions have been hit by 64.

On the other hand, low-risk zones are getting more exposure due to storm flooding. Nationally, there have been incidences of erratic weather patterns. Hurricane Irma hit areas like Southern Fort Meyers, which has had no flooding in a century. Even in Northwest Florida, where storms are expected, most hurricanes before Michael were of category 3 strength. The 2018 Category 5 hurricane was the strongest one on record.

No Flood-Free Zones

The bottom line is that hurricane insurance is necessary regardless of your location. A home insurance company may use flood-zone maps to determine the vulnerability of an area to storms. However, Floridians are advised to acquire flood insurance policy despite the perception of lower risk in their region.

Army Signal Corps has been trying to track hurricanes since the 1870s. At the turn of the 20th century, the National Hurricane Center developed sophisticated systems, such as unmanned machines, to fly into the eye of the storm. The most significant analysis of the storms usually happens between June 1st and November 30th.

Data collected over time indicates that Florida is so prone to storms, that there are virtually no flood-free zones. 20% of flood events still hit the areas of the state that are said to be low-risk. The wind-driven water from the storm can cause a lot of damage to your home. It is important to remember that your home insurance company’s policy often does not cover you from water damage by default.

Damages Covered by Commercial Insurance Providers

You shouldn’t wait until there is a warning to get your flood insurance. The kind of coverage you get will depend on where you live. Depending on the insurance for floods policy, it may cover the following types of damage:

Sewer Backup: In a storm, your sewers could be overcome by the pressure of flooding waters. Water can back up into the house through the sewers. Unfortunately, it is not always part of homeowners’ policies. Refer to the terms of your insurance provider to find if you’ll get compensation in case of this kind of damage.

Water Damage: Surging waters, leaking pipes, and damage to the structure of the buildings will usually require a separate policy. The homeowners’ policy often covers certain types of damage to household items or certain parts of the house structure.

Wind: Powerful storms can rip down trees and may fall compromising the integrity of the structure. Architectural shingles can resist speeds of up to more than 110 miles per hour but category 3 winds can go up to 129 mph. Given that these materials suffer from wear and tear, it is likely that most roofs would be susceptible to these powerful storms. Check with your home insurance company/provider and find out whether your policy also covers wind damage.

Contact Key Agency Today

Storms can cause significant damage to your home and Florida is one of the most storm-prone areas in the United States. Your homeowners’ policy may not cover certain types of damages. Contact Key Agency for more information about insurance policies today.

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As this decade draws to an end and the next one begins, many people form resolutions to improve their lives. It’s a time when people consider getting around to tasks they have put off or consider important decisions to make about their futures. For current and prospective homeowners, one of the most important things to consider is the safety of their homes. While many homeowners already have home insurance, 52% of them don’t fully comprehend what their home insurance provider does or does not cover. There are several key facts to keep in mind while looking for the right insurance.

Independent Agencies Offer More Options

The variety of options when it comes to insurance can be staggering. Before even getting to the many policy types, there is a decision to be made between insurance agencies and insurance companies. To simplify the facts, independent insurance agencies offer more options. They work with a number of companies in order to provide their clients with the best deals and most reliable coverage for home insurance, auto insurance, flood insurance, healthcare insurance, life insurance, business insurance, etc. Every person’s insurance needs are different and independent agencies understand this, providing personalized customer service.

Damage From Natural Disasters Isn’t Always Covered by Home Insurance

Climate change is a rising threat to everyone, but especially dangerous to those who live near the ocean. Hurricanes are becoming more frequent and flooding is now a greater issue than it was previously. Those who live on the coast are especially susceptible to damage caused by natural disasters. Around 80% of Florida residents live along the coast, making them vulnerable to weather-related damage. What some homeowners may not realize is that home insurance and flood insurance are purchased separately. Thankfully, insurance companies in Florida often offer both forms of insurance.

Insurance Is More Accessible Than Ever

As younger generations prepare to buy homes and start families, it can be easy for them to get caught up in the misconception that insurance is confusing, or worse, expensive. However, in the digital age, it is easier than ever to locate reputable insurance providers. Comparing policies and costs is as simple as opening a few tabs on your computer. Comprehensive websites provide details about everything they offer. Information is readily available, making it simple to get a quote, check the cost of coverage, or access email addresses and phone numbers of the staff in case you have any further questions.

For further information about home insurance and more, rely on Key Agency today.

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Most drivers spend $92 per month on average for auto insurance. While many people wouldn’t have much trouble paying that, others may be curious to know if there are ways to lower your auto insurance cost.

Fortunately for them, there is. To find out how to get the most out of your insurance plan, keep reading.

Compare Insurance Rates Before Buying a Car

Insurance premiums are based on several factors, but many of them come down to the specific car you’re driving. A car that’s very likely to break down, get stolen, or get into accidents is going to cost more to insure. If you’re thinking about buying a new car, you’re in luck. You can choose a model that’s proven to be less risky for insurance companies by doing just a little bit of research.

To find out how expensive insurance might be for a given car, look up its safety rankings online. Every major model is listed on the internet with information about how likely it is to experience problems and need repairs.

Some insurance companies will offer lower premiums on vehicles that have safety systems installed to prevent theft. By addressing this and the safety rankings of the vehicles you’re considering, you can lower your insurance bill considerably.

Improve Your Credit

Having a solid credit history and a healthy credit score gives you many benefits. Banks, landlords, and even employers are more likely to work with someone with good credit. What many people don’t know is that their credit affects their ability to get cheaper insurance as well.

Research has demonstrated that people who actively manage their credit history and score make fewer claims than those who don’t. It’s also widely recognized that people with poor credit are a higher risk to not just lenders, but also service companies like insurers.

To improve your odds of getting lower-priced insurance, become familiar with your credit report. Dispute any errors you can find and take steps to raise your score. This won’t just help you get cheaper auto insurance — better credit will help you in every part of your life.

Bundle Your Insurance Plans

If you currently use one business for your home insurance, life insurance, and health insurance, you could get a lower rate on auto insurance by adding that to your plan.

Insurance companies often provide more than just one kind of insurance. When someone buys insurance from them for their home, they want them to go ahead and add car insurance as well. To incentivize this, they frequently offer lower insurance prices to their existing customers.

If you already have insurance plans with a company that offers auto insurance, consider bundling your plans together for a lower premium. Additionally, some insurers offer discounted rates to long-time customers, so staying with the same company over several years can be beneficial.

Ask About Low-Mileage and Careful Driver Discounts

Some auto insurance providers offer discounts for customers who don’t do much driving or who drive very carefully. If you only drive a few miles to work and back every day and rarely travel, your insurance company may cut you a deal since you’re less likely to make a claim.

Some companies give discounts to people who have demonstrated that they’re especially careful drivers. To demonstrate this, you may need to install a location tracker in your vehicle temporarily so they can monitor your speed and driving habits. Afterward, you could qualify for a discount on your auto insurance since you’re far less likely to get in an accident than someone who doesn’t drive as carefully.

Reduce Optional Insurance on an Older Vehicle

If your car is worth less than 10 times your insurance premium, it may not be cost-effective to have collision or comprehensive coverage for it. You should look up the value of your car to find out. If your car isn’t worth enough to make the full insurance cost worthwhile, change your insurance plan so you only have what you need to be legal.

From choosing the right car based on its safety and reliability to asking your insurance provider about discounts you may be eligible for, there are a lot of ways you can save a little money on your auto insurance plan.

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Flooding is a major concern for all Florida residents. Historically, 40% of the hurricanes that have struck the east coast have made landfall somewhere in Florida. Since 80% of Florida residents live on or near the coast, hurricanes run the risk of affecting large numbers of Floridians. Additionally, over 5 million Florida residents near lakes, rivers, and wetlands according to the Federal Emergency Management Agency (or FEMA) for the National Flood Insurance Program (or NFIP). But even though the risk of flooding is present, that shouldn’t deter you from owning the home of your dreams. With the right insurance, you can rest easy. Here are five FAQs about insurance for floods:

Does homeowners insurance cover flooding?

No. Although 85% of homeowners have home insurance policies, few of these policies cover damage due to flooding. The reason is that flood policies are governed by the NFIP. The NFIP supports and standardizes flood insurance for flood-prone communities when they take steps to mitigate flood risk. As a result, flood insurance policies are almost always separate from homeowners policies.

What happens if I do not get flood insurance?

If your home is damaged by environmental flooding, regardless of the cause, flood insurance will likely be the only way to be compensated for that damage. Homeowners insurance only covers water damage from unexpected home-related causes, such as broken water pipes. Water damage caused by runoff, overflowing lakes or rivers, or hurricanes is usually only covered by insurance for floods.

Due to the risk associated with flooding, mortgage lenders will usually require you to purchase and maintain a flood insurance policy if you live in a FEMA designated floodplain. Coupled with the fact that most mortgage lenders require that you purchase and maintain homeowners insurance, you may be required by your mortgage lender to buy both types of insurance policies.

What options are available for flood insurance?

If you live in a FEMA-designated floodplain that participates in NFIP, flood insurance must meet federal standards. However, you have a choice of policies:

  • NFIP Standard flood policies: These are policies fall within the NFIP and are sold through insurance companies and insurance agents.
  • Private standard flood policies: These are private insurance policies that are written by insurance companies to fall within the scope of NFIP under an agreement with FEMA. These are also sold through insurance companies and insurance agents.
  • Customized flood policies: These are private insurance policies that are broader in scope than the NFIP. The NFIP sets the standard coverage against flooding. Private insurance companies are allowed to provide coverage that can go above the NFIP standards but they are not allowed to go below the NFIP standards.
  • Supplemental flood policies: These are private insurance policies that are written to supplement a standard flood policy. Like customized flood policies, private insurers are allowed to write supplemental policies that go above the NFIP standards.

Conversely, if you do not live in an NFIP-participating community, your options may be more limited since NFIP coverage is not available outside of these areas. However, many insurance companies offer private flood policies for homes outside of floodplains. The benefit to the homeowner is that the lower risk of flooding outside of FEMA-designated floodplains is usually associated with a preferred rate.

What does flood insurance cover?

Flood policies cover damage to a home due to:

  • Storm runoff
  • Overflowing water bodies
  • Ocean surges due to hurricanes, storms, or tsunamis
  • Mudslides caused by floods
  • Ground collapse or subsidence due to floods

Do I need to buy flood insurance from the same home insurance company?

The short answer is no, many insurance companies participate in NFIP and sell NFIP and private flood policies. An insurance agent can help you shop around to find the policy that best suits your needs. But you may want to use the same insurer for a few reasons:

  • In the event that you need to file a claim, having one insurance company can smooth the process.
  • Having a single insurer can help in making sure that any claim is fully covered under one or the other policy
  • An insurance company issuing a homeowner policy and a flood policy can identify any additional gaps in coverage. For example, some insurance companies require a separate policy or endorsement to cover wind damage due to hurricanes.

Flood insurance can protect your investment in your home and provide the comfort that natural disasters will not turn into financial disasters. When you’re ready to protect your home, rely on the experience of the Key Agency to help.