Nestled in north central Florida, Lafayette County features an eastern border formed by the Suwannee River. The river gives rise to plenty of natural springs where residents can enjoy swimming, fishing, and kayaking. But it also means 747 of the county’s 2,747 homes face the possibility of flooding, according to Risk Factor.
Does that mean you can skip flood insurance altogether if you’re living in Lafayette County? We take a look at:
- Why flood insurance in Lafayette County is still an important protection for most homeowners.
- Flood zones in the area and what that means for Lafayette homeowners.
- How much flood insurance costs.
- How Lafayette homeowners can benefit from Kin flood insurance.
Do I need flood insurance in Lafayette County?
The most recent information from Risk Factor says Lafayette County has a moderate risk of flooding. Moreover, flood risks are lower in Lafayette County than other Florida counties.
But that doesn’t mean your flood risk is non-existent. Your house may not be in the 2,065 that have a 26% chance for severe flooding, but you can still experience water damage from inland flooding and flash floods during extreme weather. And according to the Federal Emergency Management Agency (FEMA), just one inch of water can cause $25,000 worth of damage to your home.
Another important fact to note: Most home insurance policies don’t cover flood damage. This combined with the risk for flooding in Lafayette County makes flood insurance an essential coverage for many homeowners in the area.
Flood zones in Lafayette County, Florida
Some Lafayette County homeowners don’t have a choice when it comes to owning flood insurance. If you live on a 100-year floodplain, then the Federal Emergency Management Agency (FEMA) has likely designated your area as a Special Flood Hazard Area (SFHA). This means you have to buy flood coverage if you have a federally backed mortgage. And yes, there are a number of these high-risk flood zones in Lafayette County.
A quick glance at Lafayette County’s FEMA flood map shows a large portion of the county has been designated Flood Zone A. Homes in Flood Zone A have a 1% annual chance of flooding. Over a thirty-year mortgage, that translates into a 26% chance of flood.
Lafayette County also contains several areas designated as Flood Zone AE. You’ll see these mainly along the Suwannee River.
Both of these flood zones are SHFAs, so flood insurance is likely required in both of these if you have a federally backed mortgage. But you also want to protect your home from flooding. Taking a few simple steps like moving water-sensitive equipment up a level or using mulch in your garden can help reduce your risk for water damage.
How much does flood insurance in Lafayette County, FL cost?
Let’s start by looking at the cost of Florida flood insurance. While Florida homeowners pay some of the highest home insurance premiums in the country, their flood insurance bills are among the lowest. In the Sunshine State, the average cost for flood insurance is $613 per year when you buy from the National Flood Insurance Program (NFIP).
You should note, however, that flood insurance costs can vary a lot between counties, cities, and neighborhoods. Premiums may even be different for neighbors. Luckily, Lafayette County currently has a moderate flood risk, so there’s a chance your premium may be lower than the Florida average.
How to get flood insurance in Lafayette County Florida
About 90% of the flood insurance homeowners buy is purchased through the NFIP. However, one study found that going through a private insurance company like Kin could save money for 77% of Florida homeowners.
Many of our members do save money on their flood insurance because we offer the coverage as an endorsement to your homeowners policy. Not only does that help us keep costs down, but it means you:
- Get covered immediately (NFIP requires a 30-day waiting period).
- Can add flood coverage at any point of your policy term.
- Can match your flood limits to your dwelling coverage limits.
- Don’t need an elevation certificate.
- Work with one company for home and flood insurance.
- Pay one premium and don’t have to worry about separate deductibles.
Getting flood insurance is easy. Simply contact us, and we’ll get started!
