Flood Insurance in Florida: What to Know

Flood insurance costs are rising. Florida homeowners in high-risk flood areas will see the biggest impact.

Julia Taliesin
Written byJulia Taliesin
Julia Taliesin
Julia TaliesinInsurance Content Writer

Julia Taliesin is an insurance content writer at Insurify. She began her career as a journalist, covering local government and business in Somerville, Mass.

Evelyn Pimplaskar
Evelyn PimplaskarEditor-in-Chief, Director of Content
  • 10+ years in insurance and personal finance content

  • 30+ years in media, PR, and content creation

Evelyn leads Insurify’s content team. She’s passionate about creating empowering content to help people transform their financial lives and make sound insurance-buying decisions.

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Updated May 23, 2024 | Reading time: 4 minutes

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Many Florida homeowners recently saw a significant cost change for flood insurance premiums.

The Federal Emergency Management Agency (FEMA) phased in risk-based pricing for policies with the National Flood Insurance Program (NFIP), increasing costs for 80% of Florida homeowners with NFIP policies and reducing them for 20%.[1] Some saw a major increase; Franklin County’s premium rose by more than $3,500 per year.

Florida is already the most expensive U.S. state for home insurance, with an annual median rate of $10,996, according to Insurify data. Flood insurance costs may change to meet assessed risk, which could shift given the changing severe weather patterns affecting Florida.

Quick Facts
  • The average annual flood insurance premium in Florida is $2,213.

  • Federal flood insurance covers up to $250,000 of building flood damage.

  • Premiums for primary residences could increase by 18% annually.

Do you need flood insurance in Florida?

Florida law doesn’t require flood insurance for all homeowners, but most still need it. NFIP flood insurance is available to anyone in participating communities, and only 10 aren’t in the program.

Anyone with a federally backed mortgage in a special flood hazard area (SFHA) has to get coverage. An SFHA is any area with special flood, mudflow, or flood-related erosion hazards, according to FEMA. Everyone in the U.S. and Florida lives in an area with some flood risk, so it’s just a matter of how high or low yours is.

In 2022, Florida started requiring flood insurance for anyone with a homeowners policy through the state’s insurer of last resort, Citizens Property Insurance Corporation, regardless of their flood zone.

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Understanding Florida’s flood zones

FEMA produces maps showing flood risk across the U.S. based on the most recent available data. SFHA zone designations start with “A” or “V,” while other letters signify low- or moderate-risk areas or areas with undetermined risk.

If you’re unsure if you’re in a high-risk zone, you can check your home or property’s risk rating with FEMA’s flood mapping tool. If you enter an address, coordinates, or even your city or county, the map will display the SFHAs in blue.

NFIP flood coverage is available to anyone in a participating community, which includes most of Florida. FEMA doesn’t use flood zones to calculate premiums but does use flood-risk information to set premiums based on a property’s risk.

Learn More: Why Did My Homeowners Insurance Go Up?

Learn More: Why Did My Homeowners Insurance Go Up?

Cost of flood insurance in Florida

FEMA phased in a risk-based pricing approach which took full effect in 2023. Before this, homeowners were paying more or less than their actual risk, creating unfair premiums, according to FEMA.

Now FEMA looks at the likelihood of different flooding events as well as additional information like elevation and distance from flood sources, levee performance, and building characteristics, resilience, and replacement costs.[2] NFIP premiums can change based on community development and infrastructure decisions, FEMA notes.

The average annual cost of an NFIP policy for single-family Florida homes is $2,213, above the national average of $1,808, the most recent FEMA data shows. Premiums vary geographically. For example, central Florida’s Marion County policyholders pay a $659 average annual premium, while southern Monroe County averages $4,622 per year.

Florida County
Average Risk-Based NFIP Cost
Alachua$875
Baker$1,007
Bay$1,726
Bradford$983
Brevard$2,367
Broward$1,254
Calhoun$1,643
Charleston$1,465
Charlotte$3,687
Citrus$3,147
Clay$1,289
Collier$3,980
Columbia$1,119
Desoto$1,474
Dixie$1,945
Duval$1,612
Escambia$1,886
Flagler$2,372
Franklin$5,195
Gadsden$1,677
Gilchrist$1,187
Glades$1,584
Gulf$2,507
Hamilton$1,311
Hardee$866
Hendry$1,298
Hernando$2,070
Highlands$598
Hillsborough$2,550
Holmes$1,275
Indian River$2,773
Jackson$$1,338
Jefferson$880
Lafayette$1,174
Lake$825
Lee$3,965
Leon$1,221
Levy$3,328
Liberty$1,465
Madison$1,102
Manatee$2,114
Marion$659
Martin$2,235
Miami-Dade$1,611
Monroe$4,622
Nassau$1,870
New York$1,465
Okaloosa$2,030
Okeechobee$1,422
Orange$707
Osceola$671
Palm Beach$1,191
Pasco$1,753
Pinellas$3,258
Polk$651
Putnam$1,783
Santa Rosa$1,269
Sarasota$2,439
Seminole$843
St. Johns$1,984
St. Lucie$1,709
Sumter$615
Suwannee$1,154
Taylor$2,847
Thomas$1,465
Union$1,245
Volusia$1,337
Wakulla$3,092
Walton$1,501
Washington$1,054

Will Florida flood insurance rates continue to rise?

For most property owners, yes. Rates increased for 77% of policyholders as FEMA phased in risk-based pricing between October 2021 and April 2023. Only 4% saw rate increases of more than $20 per month.

NFIP rates will continue to rise as FEMA brings premiums in line with risk. By law, the NFIP can’t increase rates by more than 18% annually for primary residence policies. Premiums for other properties, like non-primary residences and business properties, must increase by 25% annually until they reach full risk-based rates.

Rates will likely change as aging structures and severe weather patterns shift FEMAs assessed risk levels.

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What flood insurance covers

You can purchase building and contents coverage through the NFIP, which will pay for any losses or physical damage directly resulting from flooding.

Building coverage protects:

  • Electrical, plumbing systems

  • Furnaces, water heaters

  • Refrigerators, cooking stoves, dishwashers

  • Permanently installed carpeting

  • Permanently installed cabinets, paneling, bookcases

  • Window blinds

  • Foundation walls, anchorage systems, staircases

  • Detached garages

  • Fuel tanks, well water tanks/pumps, solar energy equipment

Contents coverage protects:

  • Personal belongings

  • Curtains

  • Washer and dryer

  • Portable/window air conditioners

  • Microwave oven

  • Non-permanent carpets

  • Valuable items (up to $2,500)

What flood insurance won’t cover

NFIP covers damages from a sewer backup only if flooding directly causes them. Policies cover basement cleanup expenses and service appliances or systems but not finished basement improvements or contents.

Here’s what’s an NFIP building or contents policy won’t cover:

  • Temporary housing and living expenses

  • Property outside the insured building (landscaping, wells, patios, fences, pools, etc.)

  • Financial losses caused by business interruption

  • Currency, precious metals, stock certificates, valuable papers

  • Cars/self-propelled vehicles (including parts)

  • Personal property in basements

Good to Know

The NFIP provides up to $250,000 of building coverage and $100,000 of contents coverage for residential properties.[3] Most Florida NFIP policies carry a $450,000-to-$550,000 replacement cost value, so private flood insurance is available if you need more coverage.

How to get flood insurance

FEMA partners with 31 insurance companies in Florida to offer NFIP policies. Here’s how to secure NFIP flood insurance in three steps:

  • illustration card https://a.storyblok.com/f/162273/150x150/6e8574d854/insurify-icons-auto-gold-96x96_013-family.svg

    1. Make sure your community participates

    Only 10 Florida communities don’t participate, but you can check by searching FEMA’s Community Status Book for Florida’s report.

  • illustration card https://a.storyblok.com/f/162273/x/7955361cf0/customer-support-1.svg

    2. Call your insurance agent or find an insurer

    Your insurer likely partners with the NFIP to offer flood insurance, so call and ask. If they don’t, you can search the NFIP’s insurer locator to find one near you.

  • illustration card https://a.storyblok.com/f/162273/x/f9e1d7766e/saving-bundle.svg

    3. Choose your policy coverage

    Consider your property value to decide whether coverage for building, contents, or both is the right fit.

Florida flood insurance FAQs

Your lender or home insurer may not require flood insurance, but everyone has some flood risk. Since most homeowners insurance policies don’t pay for flood damage, flood insurance can be a good idea if you live in an area of high risk.

Here are answers to common questions about flood insurance in Florida.

  • What is the average cost of flood insurance in Florida?

    Flood insurance costs $2,213 per year, on average, in Florida. Annual premiums vary widely, ranging from $598 in Highlands County to $5,195 in Franklin County, according to FEMA data.

  • What is the new flood insurance law in Florida?

    In 2022, Florida passed a law requiring anyone with a Citizens Property Insurance Corporation homeowners insurance policy to buy flood insurance. Before that, only property owners in SFHAs with federally backed mortgages had to get it.

  • Which companies sell flood insurance in Florida?

    The NFIP lists 31 insurance companies that sell federal flood insurance in Florida, including well-known national companies like Allstate, Farmers, National General, and USAA.[4] The state’s Office of Insurance Regulation also publishes a list of primary and excess flood policy writers.

  • How do I know if I need flood insurance in Florida?

    You need flood insurance in Florida if you have a federally backed mortgage and live in an SFHA, or if you have a home insurance policy with Citizens.

Sources

  1. FEMA. "Florida - Risk Rating 2.0."
  2. FEMA. "Cost of Flood Insurance for Single-Family Homes under NFIP’s Pricing Approach."
  3. National Flood Insurance Program. "Understanding your policy terms."
  4. National Flood Insurance Program. "Florida."
Julia Taliesin
Julia TaliesinInsurance Content Writer

Julia Taliesin is an insurance content writer at Insurify. She began her career as a journalist, covering local government and business in Somerville, Mass. She reported multiple investigative stories about municipal finances and budget allocation, building development and inspection, and personnel. When the pandemic began she became a de facto public health reporter, writing daily and weekly reports using available data to quickly communicate rates of infection and city response.

She's worked for print and digital outlets, writing everything from quick-hit breaking news to long-form community features. More recently, Julia managed content strategy at a startup creating a social platform for licensed nurses, overseeing a team of nurse freelancers and editing interview transcripts and news articles for publication.

She holds a Bachelor's degree in communications from Simmons University, with a focus in journalism. Outside of work, Julia enjoys working on crafting projects, learning about homesteading, and singing in cover bands.

Evelyn Pimplaskar
Edited byEvelyn PimplaskarEditor-in-Chief, Director of Content
Evelyn Pimplaskar
Evelyn PimplaskarEditor-in-Chief, Director of Content
  • 10+ years in insurance and personal finance content

  • 30+ years in media, PR, and content creation

Evelyn leads Insurify’s content team. She’s passionate about creating empowering content to help people transform their financial lives and make sound insurance-buying decisions.

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