October 4, 2024, WFSU-FM, Tallahassee – The widespread scale of the damage in Florida has some chattering that it will lead to widespread property insurance rate increases, but insurance expert Lisa Miller of Miller and Associates, doesn’t think so. She says most of the damage from Helene isn’t covered by property insurance, because property insurance alone doesn’t cover flooding and water damage. “Flood insurance is not a part of your property insurance policy,” said Miller. “It is a separate policy, and most of the time you buy that from the federal government through what is called the National Flood Insurance Program, the NFIP, and your insurance agent, of course, is the ticket to buying that insurance.” (More below) (Original story location, including radio version: https://lisamillerassociates.com/wp-content/uploads/2024/10/Helene-Shows-Importance-of-Flood-Insurance-WFSU-FM-10-4-24.wav)
TALLAHASSEE, Fla. – A lot of Floridians had their lives upended by damage from Hurricane Helene this week. Insurance experts say the storm surge and rain damage from the hurricane underpin the importance of flood insurance in Florida.
The category four storm left thousands without power and in many cases homeless. One of the worst hit areas in Florida was Keaton Beach, where the hurricane impacted over 90% of homes. Another hard-hit region was the Tampa Bay area. Storm surges there made tens of thousands of homes unlivable. Andrew Swan told WUSF that he was watching a home in the area when the storm surge got up to eight feet. I
“I mean, everybody’s just kind of in shock and just trying to pick up the pieces. Nobody really expected it like this,” said Swan.
The widespread scale of the damage in Florida has some chattering that it will lead to widespread property insurance rate increases, but insurance expert Lisa Miller of Miller and Associates, doesn’t think so. She says most of the damage from Helene isn’t covered by property insurance, because property insurance alone doesn’t cover flooding and water damage.
“Flood insurance is not a part of your property insurance policy,” said Miller. “It is a separate policy, and most of the time you buy that from the federal government through what is called the National Flood Insurance Program, the NFIP, and your insurance agent, of course, is the ticket to buying that insurance.”
Miller said the threat of serious storm surges due to hurricanes means flood insurance should be a priority for Florida homeowners.
“My motto is this, if your driver’s license says Florida, you’re going to flood and I would highly recommend that those of you who do not have flood insurance buy it and do everything you can to buy it,” she advised. “And I have seen, and my heart breaks for the thosuands of people here in Tampa Bay that don’t have it. They’ve lost everything they have.”T
To purchase flood insurance, call your insurance company or insurance agent, the same person who sells your home or auto insurance.
© 2024 WFSU Public Media
