As hurricane season approaches, Floridians are being reminded of the importance of reviewing their insurance policies to ensure adequate coverage. The Central Florida region, having experienced severe hurricanes in recent years, is particularly vulnerable to flooding, making flood insurance a critical consideration for homeowners and renters alike.

Understanding Flood Insurance

Mark Friedlander from the Insurance Information Institute highlights the necessity of flood insurance, noting that it is often not included in standard homeowner policies. Residents should consider purchasing separate flood insurance through the Federal Emergency Management Agency’s National Flood Insurance Program or a private insurer.

Documenting Belongings

Creating a home inventory is another crucial step. Friedlander advises taking photos and maintaining a digital catalog of belongings, which can expedite the claims process in the event of damage. Resources for creating a home inventory are available at iii.org.

Vehicle Coverage

For vehicle owners, comprehensive auto insurance is essential. Friedlander explains that damage to vehicles during a storm, even if parked in a garage, is not covered by home insurance but requires comprehensive auto coverage.

Renters’ Insurance

Renters are also encouraged to secure insurance coverage, particularly those on lower floors who may need flood insurance. Friedlander points out that flood insurance is generally more affordable for renters than homeowners.

Market Stability

Despite Florida’s historically high insurance rates, Friedlander notes positive trends in the market, with a decrease in premiums for the first time since 2016. The availability of more insurance companies allows residents to shop for competitive quotes, indicating a strengthening market.

For ongoing updates and weather alerts, residents are encouraged to stay connected with local news outlets like WESH 2.

Original reporting: WESH Orlando — read the source article.