Flood risks are a reality for Floridians, particularly in regions like Lake County, where water covers nearly 19% of the area’s 1,157 square miles. That plus the county’s low elevation and Florida’s increasingly active Atlantic hurricane season have made floods a top concern for county residents.
It probably goes without saying that flood insurance in Lake County, Florida is essential. The real issue is cost. The area’s flood risk can make coverage expensive.
That’s why more homeowners are turning to Kin for their coverage. We offer flood insurance as an endorsement to their home insurance – giving you just one policy, one premium, and one deductible to manage. (How easy is that?)
Let’s take a closer look at what Lake County flood insurance is, why it’s so expensive, and ways homeowners may be able to lower their costs.
What is Lake County flood insurance?
Flood insurance is a property policy that helps homeowners pay for water damage caused by flash floods, storm surge, and inland flooding. These perils are seldom covered by standard home insurance, so most homeowners who need flood insurance end up buying a separate policy.
Kin’s flood insurance is different because we offer the coverage as an endorsement. As a result, many homeowners find our flood insurance is both affordable and flexible.
How much is flood insurance in Lake County?
Many Lake County homeowners get their flood policies through the National Flood Insurance Program (NFIP), which cost an average of $613 per year. Surprisingly, that puts the Sunshine State towards the bottom in a list of most expenses states for flood insurance.
Unfortunately, Lake County’s high risk for flooding could push your annual up above the state’s average. Location plays a major role in how much your flood insurance costs, particularly if your home is in a flood zone. If your home is in an area designated by the Federal Emergency Management Agency (FEMA) as a Special Flood Hazard Area, then you may have to buy flood insurance just to get a mortgage.
Lake County flood zones
Lake County's flood zone map shows several areas designated as Flood Zones A and AE. Both of these areas have a one percent chance of experiencing a devastating flood every year. That may not sound like much, but it translates into a 26 percent chance during a 30 year mortgage.
Flood Zone A tends to have low elevations and are near bodies of water. However, FEMA has not determined the base flood elevation (BFE), which is the level experts predict the one-percent flood will reach. Flood Zone AE, on the other hand, does have a BFE, and that means the area has clear guidelines for new construction and protecting homes.
Either way, FEMA has declared both these flood zones to be Special Flood Hazard Areas. That means federally backed mortgage lenders will require flood insurance.
How to get affordable Lake County flood insurance
Customers who choose to get their flood insurance from us often end up saving money on their coverage. Why? Because we sell flood insurance as an endorsement rather than a standalone policy. This also means we can offer coverage that:
- Matches the limits on your dwelling, other structures, and personal property coverages.
- Goes into effect immediately rather than after a 30-day waiting period.
- Comes as replacement cost coverage.
Want to see if you can save on your home insurance? Call at 855-717-0022 to talk to a representative.
How to reduce your flood risk in Lake County, Florida
Flood insurance is an important protection for Lake County homeowners because it helps you recover from major flooding. But that’s only half of the battle. The other half is taking steps to reduce your risk for water damage. Key among these are:
- Determining your home’s flood zone and risk of flooding.
- Following FEMA’s guidelines for protecting your property in your flood zone.
- Keeping your property in good repair.
The website Risk Factor can help you identify your home’s risk for flooding. Simply enter your address to get details on your property’s past, current, and future flood risk. Once you see what your risk is, contact us for a flood insurance quote.
