Floridians Turn to Flood Insurance after Record-Breaking Rainfall—Fort Lauderdale Insurance Lawyer Insights

Heavy rains throughout Broward County have left many residents wondering how they will contend with the flood damage and restore their homes and businesses. Florida is one of the most flood-prone states, so you might be surprised to learn that most basic homeowner’s insurance policies do not cover flood damage.  Most homeowner policies do not cover damage from ground water resulting from heavy rain.

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Even if you had the foresight to purchase flood insurance, you might run into a problem when you file a claim with your insurance company. Insurers boost their profits by undervaluing claims, ignoring the “hidden” costs of flood damage, and denying claims that should be approved.

If your insurance provider is trying to cheat you out of fair compensation, contact Leader & Leader P.A. Michael D. Leader is an insurance claims attorney in Fort Lauderdale who will evaluate your case to determine the full value of your claim.

If you have to sue your insurance company to enforce your rights, your insurer will be required to pay for your attorney fees and other costs of doing so. Call 954-523-2020 today to schedule a free initial consultation.

Read on to learn the answers to three frequently asked questions about flood insurance:

  1. What Is Covered by a Standard Flood Insurance Policy in Florida?

In Florida, a standard flood insurance policy will cover damage to the furnace, air conditioner, tile, carpet, water heater, and the building’s structure. Depending on your policy and the options you paid for, it may not cover damage to contents of the building.

Before you commit to a flood insurance policy, it is important that you look for any exclusions or limits on the type of damage covered or the amount of coverage offered. Even if you have an All Risks insurance policy, it can exclude almost any type of coverage that is not required under Florida law as long as it is specifically stated in writing.  Often your mortgage holder will not require it if you are not in a “flood zone” but it is often not very expensive and worth having.

  1. What Is the Value of the Average Flood Claim in the United States?

According to the most recent data from Bankrate, the average flood insurance claim for homeowners in the United States is $30,000. To put that in perspective, it’s more than half of the median household income in the state of Florida.

  1. Will Federal Disaster Assistance Pay for My Flood Damage?

No. Federal disaster assistance is typically a loan that helps a homeowner pay for flood damage. It is not intended to compensate you for your losses. These loans are not generally available unless the a “disaster” has been formerly declared.

If your home was damaged by the recent flooding in Florida, turn to Leader & Leader P.A. Michael D. Leader will help you file a claim with your insurance company and fight for the maximum payout. If your insurer denies your claim or does not offer fair compensation, Mr. Leader has the litigation experience to represent you in court. Call 954-523-2020 today to schedule a free initial consultation with an insurance lawyer in Fort Lauderdale.


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