You have a federally backed mortgage or loan that is FDIC insured on your building in a SFHA and/or.Your property is located in a Special Flood Hazard Area (SFHA) and.Most often, when government aid is available, it comes in the form of an interest bearing loan. Declarations require rather widespread damage. Less than half of flooding events are “declared disasters”. It is only offered when the President makes an official disaster declaration. Some limited relief might be obtainable through government aid, but government assistance is not available automatically. Without flood insurance, losses must be covered out of pocket. Damages associated with floods can easily total $25,000 or even more.īecause the City of Destin participates in the National Flood Insurance Program, all city residents qualify to apply for NFIP flood insurance. Homeowners insurance may cover fire and wind damage, but virtually never covers damage from flooding, nature’s most common natural disaster. Even if you are not required to have flood insurance, serious consideration should be given to purchasing it anyway. Īs stated previously flooding can occur anywhere, anytime. View more about the Flood Insurance Reform Act of 2012 changes here. Some of these changes have already been put in place, and others will be implemented in the coming months. It’s all the more reason for South Florida residents to make sure they’re covered.įor those who don’t have flood insurance and find themselves wondering what to do, the experts Local 10 News spoke with said one option would be to contact FEMA to see what, if any, assistance is available.Ĭopyright 2023 by WPLG - All rights reserved.In 2012, the US Congress passed the Biggert Waters Flood Insurance Reform Act of 2012 which calls on the Federal Emergency Management Agency (FEMA) and other agencies to make a number of changes to the way the National Flood Insurance Program (NFIP) is run. Those FEMA flood maps won’t be updated anytime soon, either, in spite of, and despite, this latest weather event. You don’t want to make it harder for you, and easier for the insurance company, to come out and say, ‘I’m not seeing anything,’ or, ‘I’m not seeing the flood line, I’m not seeing the water, (it) didn’t rise high enough for me to allow for that two inches, three inches, four inches of drywall replacement.’” “Some people are going to be inclined to really want to clean up as quickly as they can,” he said. “From the date of loss, you have 60 days to get your proof of loss submitted to the carrier.”Īs for reporting that damage, Arrow said it’s very important to document everything, but to be smart about it. “You want to get the claim reported right away, you want to get the estimate and the proof of loss submitted to the insurance company,” Arrow said. It starts with filing claims, something he’s already helping with. Just because you don’t live in a FEMA-designated flood plain - it’s not showing on the map - doesn’t mean you can’t have catastrophic flooding.”Īttorney Brandon Arrow with The Professional Law Group said the next few days for property owners will be crucial. “It could flood anywhere, at any time, in Florida. “We’ve never seen anything quite like this in terms of a non-named event,” Friedlander said. He said more than two feet of rain in a matter of days should be a wake-up call for anyone, especially those who don’t have flood insurance, and should. Mark Friedlander is the Florida spokesperson with the Insurance Information Institute. That usually involves working with their insurance agencies, which is generally not an easy task. – Some South Florida homeowners are having to figure out how to deal with the historic flooding that impacted parts of Miami-Dade and Broward counties over the past week.
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