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Flood Insurance

Flood Insurance Consumer Resources

The most common and most damaging natural disasters in the country are floods. Most homeowners’ and business insurance policies do not cover flooding. The Florida Office of Insurance Regulation (OIR) encourages consumers to be prepared and consider flood insurance coverage.

Know Your Risk

The Federal Emergency Management Agency (FEMA) flood map service can help consumers determine their flood risk. Depending on the location, consumers may qualify as a high risk, moderate/low risk, or undetermined risk.

  • High-risk areas have at least a 1 percent chance of flooding each year. Homeowners in these areas with mortgages from federally regulated or insured lenders are required to buy flood insurance.
  • Moderate to low-risk areas have less than a 1 percent chance of flooding each year, but there is still a possibility the area could flood. Flood coverage isn't required in these areas, but it is recommended. Some mortgage lenders still require you to have flood insurance in non-high-risk areas.
  • Undetermined risk areas are areas where flood-hazard analysis has yet to be conducted, but risk still exists.

To learn more about flood risks in your area, visit the local emergency management office website or FEMA to look at a flood map.

National Flood Insurance Program

The National Flood Insurance Program (NFIP) is administered through FEMA. Florida leads the nation in the number of NFIP policies in force. To qualify for flood insurance, a community must join the NFIP and agree to enforce sound floodplain management standards. To find out if your community participates, visit floodsmart.gov, contact the local emergency management office, or call your insurance agent.

NFIP policies typically take 30 days to become active, so it is important to plan ahead when considering an NFIP policy.

Private Flood Insurance

Florida also leads the nation in the development of the private flood insurance market, which has grown steadily since 2017. OIR provides a list of flood insurers on its website here. Private flood policies can be written as a stand-alone policy or as an endorsement onto a homeowners’ policy.

Frequently Asked Questions

Who can purchase flood insurance?

Flood insurance coverage is available for homeowners, condo unit owners, renters, and businesses.

Can flood insurance be purchased during Hurricane Season?

Yes. However, if a consumer is looking for flood insurance in advance of a known storm, it is important to consider that some policies take time to take effect. OIR encourages all consumers to plan well in advance.

How much does flood insurance cost?

The price for flood insurance varies by provider and proximity to flood zones. NFIP coverage is typically around $700 a year in high risk areas. Property owners located in low-to-moderate risk areas should ask their agents if they are eligible for the Preferred Risk Policy, which provides flood insurance protection at a lower cost than a standard policy in a high-risk area. Consumers are encouraged to shop around and contact their agent for the coverage that best suits their needs.

What type of coverage is included with flood insurance?

Generally, NFIP standard flood insurance policy pays for direct physical damage to the insured property up to the replacement cost or actual cash value (ACV) of actual damages, or the policy limits of coverage, whichever is less. A summary of coverage for NFIP policies can be found here. Private insurers may have higher limits or broader coverage than NFIP policies. For private flood policies, be sure to speak with the insurer or agent regarding coverage.

Additional Resources

What the Flood! QUIZ

Test your knowledge of flood-related insurance with this NAIC interactive quiz.

Find a Private Flood Insurer

OIR provides an online list of insurers offering private flood insurance in Florida.

Find an NFIP Insurer

NFIP provides an online tool to find participating insurance providers in each state or territory.