Assurant launches Florida flood-damage insurance

Assurant Co. has joined other  insurers in offering private Florida flood coverage.

Assurant announced a new flood insurance policy for owners of property in zones that the Federal Emergency Management Agency (FEMA) considers most exposed to flood risk. Owners of homes in these high-risk zones must have flood insurance if the homes are collateral for federally backed mortgage loans.

Assurant’s new coverage provides flood protection for as much as $800,000 in structural damage and a limit of $250,000 for damage to household contents.

Policies available through the National Flood Insurance Program cover up to $250,000 of structural damage and $100,000 for contents.

Private Florida flood insurers have multiplied in recent years. For example, Homeowners Choice Property & Casualty sold it first flood policy in 2014 and this spring formed a company called TypTap Insurance that sells flood coverage online directly to customers. [Sun-Sentinel] — Mike Seemuth