FEMA’s Deluge on Miami Residents (That Means Flood)

FEMA has announced that Miami Dade's flood map has been restructured. According to the Miami Herald, this will help many Miami residence whose flood insurance premium will either be reduced or they will no longer be required to carry Flood Insurance because of the new surveying technology. However, many other residences that were previously not required to have flood insurance will now be required to purchase Flood insurance if they have a federally backed mortgage, or if their mortgage company has rules that require them to purchase flood insurance.

If you are new to purchasing flood insurance, or you think that you may be paying too much for your flood insurance, I encourage you to speak with Andrew Cohn at ALC Risk Solutions at (786) 664-7475. Flood insurance premiums should not differ very much, but some agents may decide to not ask for information that can save you money like an elevation certificate. Other insurance agents may not have adjusted to the new flood zone maps. We will give you a straight forward quote, from a reputable insurance company, backed by FEMA. ALC Risk Solutions has launched a new website to help Florida residence with their flood insurance at www.floridafloodrisk.com.

What Is a Flood?

A flood is a general and temporary condition where two or more acres of normally dry land or two or more properties are inundated by water or mudflow. Many conditions can result in a flood: hurricanes, broken levees, outdated or clogged drainage systems and rapid accumulation of rainfall.

Flood Insurance Basics

Flood Insurance is pretty simple, and an agent at ALC Risk Solutions can explain it to you over the phone or in person, but here are the basics.

• Flood insurance can be purchased through independent agents, like ALC Risk, through private companies like Travelers Insurance, Nationwide Insurance, State Farm, All State, ect.
  
• Homeowners can purchase up to $250,000 for their home and $100,000 for contents
  
• Businesses can purchase up to $500,000 for the building and $500,000 for contents
  
• Excess Flood Insurance can be purchase through independent agents like ALC Risk
  
• If you are in a Flood Zone that is not high-risk, like Zone "X", you can purchase flood insurance, but are not required to. These policies can be very inexpensive.
  
• An Elevation Certificate shows, among other things, the bottom level of your home compared to the ground level. It can save you thousands of dollars.
  

What Do the Flood Zones Mean?

• Zone A is the flood insurance rate zone determined by approximate methods, as no Base Flood Elevations (BFEs) are available for these areas. Mandatory flood insurance purchase requirements apply.
  
• Zone AE is the flood insurance rate zone that corresponds with flood depths greater than 3 feet. Mandatory flood insurance purchase requirements apply.
  
• Zone AH is the flood insurance rate zone that corresponds to areas of shallow flooding with average depths between 1 and 3 feet. Mandatory flood insurance purchase requirements apply.
  
• Zone VE is the flood insurance rate zone that corresponds to coastal areas that have additional hazards associated with storm waves. Mandatory flood insurance requirements apply.
  
• Zone X and Zone X-500 are flood insurance rate zones that are outside the flood plain or with average flood depths of less than 1 foot. Flood insurance purchase is not mandatory.
  

Where can I get more Information on Flood Insurance?

• FloodSmart.gov – official site of the National Flood Program
  
• MiamiDade.gov Interactive Flood Zone Map
  
• Flood protection from Miami Dade
  
• FEMA – Federal Emergency Management Agency
  
• Super Restoration – If you have a flood or other damage you need to get it fixed quickly
  

Contact an agent at ALC Risk Solutions today for your Florida Flood Insurance policy. Call (786) 664-7475 or email acohn@alcrisk.com. You can also visit www.alcrisk.com or www.floridafloodrisk.com