• Skip to primary navigation
  • Skip to main content
  • Skip to primary sidebar
  • Skip to footer
  • About
  • Advertise
  • Submit News
  • Contact Us

Capital Soup

Florida News Straight From the Source

  • Soup Du Jour
  • People
  • Government
  • Campaign
  • Business
  • Education
  • Insights
  • Video
You are here: Home / Archives for Flood Insurance Coverage

Flood Insurance Coverage

Take Action Now to Review Your Insurance Policy, Secure Flood Insurance Coverage

Posted on August 10, 2018

As the peak of the 2018 Atlantic Hurricane Season nears and Florida approaches the one-year mark since Hurricane Irma, Florida Insurance Commissioner David Altmaier and Chief Financial Officer (CFO) Jimmy Patronis are reminding consumers to take action now to review their insurance policies and secure flood insurance coverage. Typically, there is a 30-day waiting period before a flood policy takes effect, so it is vital to act before a named storm or significant weather event emerges. [Read more…] about Take Action Now to Review Your Insurance Policy, Secure Flood Insurance Coverage

Filed Under: Government, Soup Du Jour Tagged With: Flood Insurance Coverage, Florida Office of Insurance Regulation

OIR To Consumers: Take Action Now to Secure Flood Insurance Coverage

Posted on May 23, 2018

As the State of Florida continues to brace for significant flooding throughout the week, Florida Insurance Commissioner David Altmaier is encouraging consumers to take action now to secure flood insurance coverage. For a list of flood insurance writers in Florida, visit this link.

Chief Financial Officer Jimmy Patronis said, “It is never too early to prepare for a tropical weather event. With significant rain forecasted and flooding on the horizon, Floridians need to review their current insurance policies and fully understand their coverages and exclusions so they can prepare accordingly. Now is the time to take action.”

Commissioner Altmaier said, “Flooding can happen any time of year, but the chances increase significantly with hurricanes and tropical storms. As we know from last year’s hurricane season, these systems can bring storm surge and increased rainfall amounts to our state. Having flood insurance in place is critical for homeowners and businesses, and helps our state’s response and recovery efforts.”

A basic homeowners’ insurance policy does not provide coverage for flooding. This coverage must be purchased separately through a private insurance company or the federally-administered National Flood Insurance Program (NFIP). Florida’s private flood insurance market is growing and there are now 26 insurers offering primary or excess flood insurance coverage. This coverage is usually offered at prices similar to or lower than those of the NFIP, providing more consumer choice and an alternative to the federal program.

Flood insurance coverage can often be purchased directly from a consumer’s existing insurance agent or company. Typically, there is a 30-day waiting period before an NFIP policy takes effect, so it is vital to act before a named storm or other event emerges. For more information about ways to prepare for hurricane season and resources to a variety of fact sheets and tips, please visit OIR’s Hurricane Season Resources site.

Filed Under: Soup Du Jour Tagged With: Flood Insurance Coverage, Florida Office of Insurance Regulation

Consumer Alert: It’s Time to Evaluate Your Flood Insurance Coverage Before Hurricane Season

Posted on April 3, 2017

floir
Insurance Commissioner David Altmaier is encouraging consumers to have flood insurance protection in place for their homes and businesses prior to the start of this year’s hurricane season. A basic homeowners insurance policy does not provide coverage for flooding. This coverage must be purchased separately through either the federally-administered National Flood Insurance Program (NFIP) or a private insurance company.
“Many residents of our state experienced substantial property damage and losses last year from flooding caused by Hurricanes Hermine and Matthew,” stated Altmaier. “Even a small amount of rising water can cause serious flooding, so it is important to evaluate your insurance coverage now and plan ahead for the upcoming hurricane season.”
In Florida, the vast majority of flood insurance is administered through the NFIP, which oftentimes can be purchased directly from a consumer’s existing insurance agent or company. Typically, there is a 30-day waiting period before an NFIP policy takes effect, so to have coverage in place for the June 1 start of hurricane season, the ideal purchase date would be May 1. Federal legislative reforms addressing the NFIP were instituted in 2012 and 2014. As a result of these changes, additional price and fee increases took effect on April 1, 2017 for all NFIP policies. To learn more about this coverage, and for more information about the recent federal reforms, visit the NFIP’s website.
Florida’s private flood insurance market is growing and there are now several insurance companies offering primary or excess flood insurance coverage to consumers. This coverage is usually offered at prices similar to or lower than those of the NFIP. For a list of flood insurance writers in Florida, visit the Office’s “Flood Insurance” webpage.
For more information about ways to prepare for hurricane season and resources to a variety of fact sheets and tips, visit the Office’s “Hurricane Season Resources” webpage.

Filed Under: Soup Du Jour Tagged With: Consumer Alert, Flood Insurance Coverage, Florida Department of Insurance Regulation, hurricane season

Primary Sidebar

    Submit News    

Coalition of Florida Elected Leaders Voices Perils of Energy Preemption Bills

Mayors, commissioners, other leaders release letter in opposition to bills restricting local energy … [Read More...] about Coalition of Florida Elected Leaders Voices Perils of Energy Preemption Bills

Florida Department of Education Issues Emergency Order

Builds on previous orders that provide options and flexibility The Florida Department of Education (FDOE) … [Read More...] about Florida Department of Education Issues Emergency Order

Senate Unanimously Passes Balanced Budget, Ensures Significant Reserves as Economy Recovers

Key investments in child welfare, minimum wage - New infrastructure plan mitigates impacts of sea level rise, … [Read More...] about Senate Unanimously Passes Balanced Budget, Ensures Significant Reserves as Economy Recovers

Keep in Touch

  • Email
  • Facebook
  • Twitter

Newsletter signup

Stay in the loop! Subscribe to our weekly newsletter to receive a brief recap of the week's most popular stories.

Footer

News

  • Soup Du Jour
  • People
  • Government
  • Campaign
  • Business
  • Education
  • Insights
  • Video

About Us 

  • About
  • Advertise
  • Submit News
  • Contact Us

Keep in Touch

  • Email
  • Facebook
  • Twitter

Copyright © 2021
Terms & Conditions

© Copyright 2021 Capital Soup · All Rights Reserved ·