Home insurance is a must for people residing in Palm Beach County, Florida. It is one of the most hurricane-prone areas in the US. Even though hurricanes have occurred recently in other parts of the country, the threat of a storm is ever-present. Living there, you can expect some damage to your home caused by flooding. In the months when the risk of flooding is low, your home can get damaged by the thunderstorms which occur on a weekly basis.
- Atlantis
- Belle Glade
- Boca Raton
- Boynton Beach
- Bryant
- Canal Point
- Delray Beach
- Greenacres
- Juno Beach
- Jupiter
- Lake Harbor
- Lake Worth
- Loxahatchee
- North Palm Beach
- Pahokee
- Palm Beach
- Palm Beach Gardens
- South Bay
- Wellington
- West Palm Beach
In fact, some areas of the county have been designated as ‘Special Flood Hazard’ areas. The people living there are bound to get home insurance that also provides coverage for flood damage. The location of the county is such that it is exposed to hurricanes and storms. It is to the north of Miami, bordering the Atlantic Coast in Florida.
The threat of storm damage is the reason why home insurance is expensive in Palm Beach County. Even if you conduct a thorough search, it will be difficult to find an insurance provider that offers a lower rate. At the same time, you have to keep in mind that a simple home insurance policy is not going to provide coverage for flood damage.
This means you will have to pay for the repairs or renovation out of your pocket. In order to get coverage for these costs, you have to purchase flood insurance in addition to your original home insurance policy. Also, if you have purchased your home through federal loans, you need to buy flood insurance separately.
If you live in the inland parts of Palm Beach County, where the threat of flooding is low, you can choose to forgo flood insurance. Doing so will save you a lot of money. But if you leave near the coastline, flood insurance is essential. Moreover, home insurance in the inland areas is less expensive, costing around 3% of the home’s value. For homes in the high-risk areas, the insurance could cost over 5%.