FEMA calculator predicts how much a flood could cost you
The start of hurricane season is just three weeks away and if you don’t have flood insurance, you might be wondering if it’s worth the extra cost, especially if you’re on a tight budget right now.
Keep in mind, flood insurance is a separate policy from other coverage, like your homeowners or renters policy.
The average premium in Florida is less than $500 a year. But just one inch of water can cost you tens of thousands of dollars in damage.
According to FEMA, about 22-percent of homeowners in our state had flood insurance in 2017 when hurricane Irma hit.
If you’re in that category FEMA extended its 30-day grace period for policy renewals until June 15th because of the COVID-19 pandemic.
If you don’t and you’re wondering if it’s worth the investment, FEMA has this flood damage cost calculator to help you decide.
You can access the Flood Damage Cost calculator here.