Hey, do you guys living in non-flood zones in Florida have flood insurance for your homes? Lately, we’ve noticed that new policies have seen big price hikes while renewals are going up more slowly. It’s making me think twice about dropping ours. My spouse thinks we don’t need flood insurance since we’re not in a flood zone, but I’m not so sure.
What do you think about it?
In Florida, you don’t have to buy flood insurance for your home by law. But think about it this way: your home is probably one of your most valuable things. Insurance can help pay for fixing or replacing it if something bad, like a flood, happens. Plus, if you got a mortgage to buy your home, the bank might make you get flood insurance. Why? Because they want to protect their investment in your property.
Sure! It’s smart to think about keeping your flood insurance even if you’re not in a flood zone. Floods can happen in places that aren’t expected to flood, like when there’s a lot of rain or a big storm. Fixing flood damage can cost a lot, so having insurance can help you pay for it. It’s a good idea to talk to an insurance agent for advice based on where you live and your risks.