A typical homeowners policy does not cover flooding. Flooding is best described as rising water from the outside. This can come from rising rain water, an ocean, a river, an inter-coastal waterway or a lake or pond.
To be covered for flooding, you must purchase a separate flood policy. If you live in a designated "high-risk flood zone" your mortgage company will require that you carry this insurance.
What is an elevation certificate?
If you live in a flood zone that requires you to carry flood insurance, you will need to have an elevation certificate completed by a surveyor. If you are purchasing a new home, many times the seller will have a copy of this, this means you would not need to pay for a new one. The elevation certificate tells us how high the home is built above the "base flood elevation". This information is used to determine the price of flood insurance.
How expensive is it?
You would probably be surprised to know that if you live in a preferred flood zone, flood insurance typically is very affordable.
If you live in a high risk flood zone the price for flood insurance will be determined by what is indicated on your elevation certificate.
Most flood insurance is underwritten by FEMA through the National Flood Insurance Program. There are some areas in SWFL that are eligible for private flood insurance which can be less expensive.