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414 26th St W
Bradenton, FL, 34205
United State

9417477283

Manatee Insurance Services, Inc. have been working locally with Floridians to save money and time insuring all major properties including Autos, Homes, Motorcycles, and Boats for over 35 plus years! Come save money and time finding the right insurance all under one roof. Lets get saving Florida! Contact us for a second look on what you will save.

Myths about flood insurance you need to stop believing

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Myths about flood insurance you need to stop believing

Matthew Smith

A flood insurance policy can protect your home from massive financial damages. Despite its significance, there are a number of misconceptions about flood insurance out there.

Let’s take a look at some of these myths:

Only homeowners in flood plain area need flood insurance

Natural disasters are a fact of life. They can cause extensive damages to communities. Floods, in particular are the most common natural disaster. Flooding can occur anytime, especially in coastal areas.

Regardless of where you live, it’s imperative to invest in flood insurance. If you live in a high risk area, your mortgage company will require a flood insurance policy. But, you can buy insurance even if you reside in a low risk area.

In Florida, flooding is a serious risk due to the state’s proximity to inland and coastal water as well as climate change. Therefore, insurance is a must-have policy to provide you financial compensation and peace of mind when disaster strikes.

Homeowners’ insurance offers coverage for flood damages

Contrary to popular belief, homeowners’ insurance policies do not cover losses due to floods. You will have to buy flood insurance policy separately.

Flood insurance coverage is a federally regulated subject

Yes, a majority of flood insurance coverage is federally regulated. It’s offered by the National Flood Insurance Program, while the Federal Emergency Management Agency administers it.

Communities are required to join the National Flood Insurance Program to obtain flood insurance. In addition, they are required to implement floodplain management standards.

Thereafter, residents can buy flood insurance coverage through the National Flood Insurance Program.

Flood insurance covers everything

No, it doesn’t. First of all, it’s important to understand that different flood policies have different conditions, rates and such.

A standard insurance policy offers coverage for:

· Damage caused by flood and not any other issue.

· Damages to specific household items, which may include plumbing system, built-in appliances, personal belongings (closing, furniture, etc.), certain valuables (original artwork jewelry).

On the other hand, anything in a deposit box will not be covered. Some of these items include bonds, stocks, cash, etc. In addition, vehicles are also not covered. You need separate auto, motorcycle or boat insurance for this purpose.

It’s advisable to assess your coverage needs before buying flood insurance. Also, shop around to get the best coverage and rates.

If you’re seeking flood insurance in Bradenton, FL, our insurance experts can simplify your life. We offer comprehensive coverage at great rates in Bradenton, Palmetto, Anna Maria Island and across Sarasota and Manatee Counties.