Hurricane season begins June 1st and the Florida Office of Insurance Regulation is reminding consumers that flood insurance does not come with every insurance plan.
With storms comes flooding and the OIR says if homeowners purchase the basic homeowners’ insurance policy, they must purchase flood insurance separately. Flood insurance can be purchased from a private company or through the federal government’s National Flood Insurance Program. If consumers are planning to go through the NFIP to purchase insurance, they will likely experience a 30 day waiting period before it takes effect. Florida Insurance Commissioner David Altmaier urges homeowners to remember, “Flooding can happen any time of year, but the chances increase significantly with hurricanes and tropical storms.”