Flood insurance in Florida

Flood insurance is a separate policy that pays for flood damage, which most homeowners and condo policies exclude. A National Flood Insurance Program (NFIP) policy on a one-to-four family home offers up to $250,000 for the building and $100,000 for contents. Coverage includes cleanup and building items like furnaces and water heaters, but basement coverage is limited. Private insurers also sell flood policies.

According to FEMA, the median yearly cost of an NFIP policy on a Florida single-family home was $776, including fees and surcharges, for policies in force on Aug. 31, 2023. The median full-risk cost was about $1,363. Your price depends on your property's flood risk, elevation, foundation, rebuild cost and flood-protection features, and private quotes can differ.

Sometimes. Federal law requires it if you have a federally regulated mortgage and your building is in a high-risk flood zone (a Special Flood Hazard Area); otherwise it is generally optional, though a lender or Citizens may require it. FEMA notes that flood claims also come from outside high-risk zones, and new policies typically have a 30-day waiting period.

No, not as a rule. Most homeowners policies do not cover flood damage, so flooding needs a separate flood policy from the NFIP or a private insurer. NFIP policies typically take effect after a 30-day waiting period, with exceptions, such as coverage bought in connection with a mortgage loan closing. NFIP flood insurance is available to residents of participating communities no matter their flood risk.

There is no single amount; it depends on your home's rebuild cost, your belongings and any lender rules. For a federally regulated mortgage in a high-risk zone, the law requires at least the lesser of your loan balance or the maximum coverage available, which for NFIP single-family homes is $250,000 for the building and $100,000 for contents. A licensed agent can review your situation.

Yes, for most policies, and the final phase starts January 1, 2027. Citizens requires flood coverage on personal residential policies that include wind coverage. Homes in FEMA high-risk zones already need it, higher-value homes have been phased in since 2024, and every other policy effective on or after that date will, regardless of value. Condo unit-owner policies and policies without wind coverage are exempt. Citizens does not sell flood insurance.