The maximum coverage limits under a standard flood policy are $250,000 for a single family home structure ($500,000 for businesses) and $100,000 for single-family home contents (500,000 for businesses). Less than 50% of flooding events are "declared disasters".įlood insurance is mandatory if you have a federally backed mortgage on a home in a high risk area, or you have received a federal grant for previous flood losses and you wish to qualify for future aidĪ flood policy can cover flood debris cleanup, structural damage, household appliances and utilities damaged by floodwater, and building finishes such as sheetrock, trim, and flooring.Ĭontents coverage can cover furniture, collectibles, artwork, clothing, shoes, accessories, etc.Īdditional coverage may be available for dislocation expenses such as rent, hotel stays, meals, etc. Government assistance is offered only when the President makes an official disaster declaration. Some limited relief might be obtainable through government aid such as low interest loans. Without flood insurance, losses due to flooding must be paid out of pocket. Flood risk isn’t just based on history, it’s also based on a number of factors: rainfall, river-flow and tidal-surge data, topography, flood-control measures, and changes due to building and development.īecause Walton County participates in the National Flood Insurance Program (NFIP), all county residents, with some exceptions within Coastal Barrier Resource Areas, qualify to purchase NFIP flood insurance. Just because you haven’t experienced a flood in the past, doesn’t mean you won’t in the future. Just because your home or business is located outside of the area of special flood hazard doesn’t mean that you are not susceptible to flooding. One fact to consider is that 25% of all flood insurance claims are for structures outside of the area of special flood hazard. Damages associated with floods can easily total $25,000 or more. Flooding is by far nature's most common natural disaster. Hazard insurance may cover fire and wind damage, but almost never covers damage from flooding. Flooding in Walton County can come from surges generated by a coastal tropical storm, or from rising waters due to heavy inland rains or stormwater runoff. Even if you are not required by your lender to have flood insurance, serious consideration should be given to purchasing it anyway.
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