Living in Florida, you may or may not have flood insurance for your property. Much of this may depend on whether you live in an area designated as a flood zone.

Whether you have flood insurance or not, you may have certain beliefs about how the claims process and coverage work. Take a look at four pieces of information you should know before assuming your property is safe.

1. Hurricane insurance does not cover floods

Hurricane insurance is a must in the Sunshine State, so you may believe it covers every aspect of the event, including water intrusion. While some aspects of water damage to the interior of your home may fall under the hurricane rider on your policy, flooding from a waterway caused by the storm is not. If your home takes on too much water and you do not have flood insurance, it may fall on you to clean everything up.

2. You have to live in a flood zone to get flood insurance

A common misconception is that you do not need flood insurance unless you live in a FEMA-designated flood zone. In reality, anyone can get flood insurance if they pay for it. Flood insurance may benefit you regardless of your flooding chances.

3. Flood insurance will replace everything

You may obtain flood insurance to pay for a replacement of the home and contents should the property flood. In many instances, however, flood insurance will not ante up total replacement value. Typical policies cover up to $350,000 in damage or loss. It is likely your home and its contents exceed this amount.

4. Flood insurance pays for damage due to burst pipes

A flood caused by a plumbing issue does not fall within a flood insurance policy. It may, however, fall under your homeowner's policy.

When weighing the option of adding flood insurance to your existing policy, you may want to check with a professional. Someone familiar with the coverage details and the claims process may help you in making your decision.

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