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Flood Insurance in Jacksonville

Shopping online for affordable Jacksonville flood insurance?

It is important to protect your property from damage caused by flooding. Since standard homeowners insurance does not cover flood damage associated with tropical storms, hurricanes and heavy rainfall, Congress created the National Flood Insurance Program* to offer coverage to participating communities. By adopting and enforcing local ordinances that meet Federal Emergency Management Agency's (FEMA) requirements, the national flood partnership guarantees that business owners, homeowners and renters have an opportunity to purchase flood insurance. Rates are categorized by a property's flood profile for floodwater rise following a disaster.

FEMA's "Write Your Own" Insurance Program

Floodplain management allows FEMA to monitor the NFIP and ensure flood insurance is available for property owners through individual agents and insurance companies. Generally speaking, if a home, rental property or commercial building is financed through a federally-funded or insured mortgage, structures that lie in a high-risk flood area are required to have NFIP coverage. Conversely, properties in zones with low to moderate risks are not required to participate but flood coverage is highly recommended. Coverage is NOT purchased directly from any government entity. Instead, the flood insurance rates, coverage, provisions and conditions for the settlement of a claim are the same for a given flood zone but written and serviced through private insurance companies.

Maximum Provisions of NFIP Residential Coverage

Standard coverage purchased under the provisions of the NFIP is a single peril policy that pays for damages based on the replacement cost or the policy's limit of liability, but the payout is for whichever amount is less. The NFIP offers home owners flood insurance coverage for:

  1. Building Property up to $250,000
  2. Personal Property up to $100,000

There are other dwelling forms available for insuring residential condominium associations buildings and privately-owned family residential and non-residential buildings. Coverage for flood damages differ slightly and may contain a coinsurance clause with a pro rata reduction in claim payments if a building is insured for less than 80% of the replacement value. For additional information about your specific needs for Jacksonville flood insurance, call Shapiro Insurance Group direct or use our website's convenient contact form for a prompt email response.

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October 22, 2017