Planning for natural disasters in Florida can be a part of home ownership, but it should not discourage potential buyers from purchasing a new home. Florida receives undue negative press due to hurricanes and tropical storms, but such storms – as well as other natural disasters such as tornadoes – can happen virtually anywhere in the United States. Just as a potential buyer would have to factor in the threat of earthquakes in California, a potential buyer in Florida should put in a bit of thought and effort when looking for their next home. Our team at Florida Realty Marketplace works with properties like homes for sale in Clermont, Florida and other parts of central Florida, an area that is far less likely to face natural disasters such as hurricanes. Even so, there are five points that every potential homeowner should consider about hurricanes and floods, and our professionals can help with these points.
Understand the Difference Between Hurricane Insurance and Flood Insurance
Hurricane insurance and flood insurance are two separate types of insurance. Hurricane insurance pertains to wind damage that the storm inflicts on a home. Flood insurance deals with damage caused by floodwaters. Every home in America requires hurricane insurance, but flood insurance is often optional. However, homeowners who expect to be in the path of a hurricane are advised to at least look into flood insurance as well.
Consider the Cost of Hurricane Insurance and Flood Insurance
When considering buying a home, buyers should meet with an insurance agent in the area first. The insurance agent can give the buyer estimates as to how much hurricane insurance and flood insurance will cost per month or per year.
Check a Flood Hazard Map
Both the National Flood Insurance Program and individual insurance agents can share flood hazard maps with potential buyers. Areas in the map that are marked as high-risk have a 25% chance of getting flooded during the course of a 30-year mortgage. The information on a flood hazard map ties in directly with hurricane insurance rates and flood insurance rates; homes in lower-risk areas will have lower premiums than homes that will likely sit in the path of a hurricane.
Seek Homes that Meet Safety Codes
Homes that are built to codes have features that minimize the effects of hurricanes and other water-based incidents. A home that is dome-shaped resists wind damage, and a home on stilts is less likely to succumb to flood waters. In addition, homes that are designed to resist weather damage will have lower insurance premiums.
Take Note of the Hurricane Insurance Deductibles
Unlike other forms of insurance that specify a dollar amount for deductibles, hurricane insurance defines deductibles in terms of the percentage of the home’s value. Homes that are more likely to endure a hurricane will have higher percentages than storm-resistant homes or homes in low-risk areas. Every home in America will have hurricane insurance, but buyers can choose their provider. We recommend that buyers get at least three quotes before committing to a policy.
Clermont Homes: Away from the Storm Paths
Houses that are less likely to face hurricanes have lower insurance premiums, and that is one of many reasons why our team at Florida Realty Marketplace recommends that buyers consider a home in Clermont, FL. Clermont is 20 miles west of Orlando, placing it close to many amusement parks such as Walt Disney World and Universal Studios. Clermont includes several options for shopping, dining, sports activities, and waterfront activities. Clermont also has 19 parks and 38 schools. Available homes range from single-family houses to larger multi-family estate properties.