What would you like to know about flood insurance in Miami, FL? Whether flood insurance is mandatory? Or perhaps, do all homeowners need flood insurance? Whatever the question you have, we have prepared a FAQs section to help you learn more about flood insurance. And if we haven’t answered your question yet, don’t hesitate to contact B & G Insurance for clarifications.

What is flood insurance?

It’s a stand-alone insurance plan that you can purchase through the National Flood Insurance Program (NFIP) managed by FEMA. You can also purchase flood insurance through private carriers — the advantage of this is you get higher coverage and a reduced waiting period.

Why do I need flood insurance?

You need flood insurance because flood damage isn’t covered by typical home or business insurance. So, when floods damage your premises, you can’t fall back to conventional home and business insurance. It would help if you had stand-alone flood insurance to cover the damage, meaning you don’t have to incur out-of-pocket expenses or wait for government grants that don’t always come.

What does flood insurance cover?

Typical flood insurance covers the building itself, including the electrical and plumbing system, the foundation, fixed cabinets, and other items listed in your policy. The policy also covers the contents inside the dwelling, including personal assets and items not permanently installed in your house.

Is flood insurance mandatory in Florida?

No law in Florida requires homeowners to invest in flood insurance. However, if you have a mortgage from a federal-regulated lender, they may insist you purchase flood insurance if you live in a high-risk flood zone.

Where can I purchase flood insurance in Miami, FL?

Purchasing flood insurance can be nerve-wracking, but this isn’t the case when you partner with B&G Insurance. We will take you through flood insurance and give you the right amount of flood insurance to ensure you are paying for what you need.