How Much Is Flood Insurance In Florida?

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If you have a mortgage, there's a good chance you'll be required to have a flood insurance policy if you live in a high-risk area for flooding. Even if a mortgage lender doesn't require you to have this insurance, it may be a prudent way to protect the investment in your home.

Flood insurance is not included in standard homeowner's policies, and yet floods are a fairly common type of disaster that can cause extensive damage to a property. As a low-lying state surrounded on three sides by water, Florida is particularly prone to flooding.

The National Flood Insurance Program (NFIP), offered through the Federal Emergency Management Agency (FEMA), offers flood insurance to homeowners in areas at high risk for flooding, but a private insurer may offer a cheaper rate, if you qualify.

This article will give you some background on Florida flood insurance, including:

Cost of Flood Insurance in Florida

The average annual cost of flood insurance in Florida is $626, including premium and fees. Of course, rates vary according to the level of coverage you need and where your home is located. The average cost of an NFIP insurance policy in Florida works out to $242.41 for every $100,000 in coverage.

These figures are just for NFIP policies. While that program was designed to make flood insurance for at-risk properties affordable, you might be able to get cheaper coverage through a private flood insurance policy.

Cost of Private Flood Insurance in Florida

Flood insurance from a private insurer may offer rates as low as $500 if you're in a low-risk flood zone. Similar to NFIP policies, actual premiums on private flood policies will depend on multiple factors, including your flood zone, foundation type and square footage. According to one private flood insurer in Florida, rates in a low-risk flood zone may range from $500 to $1,000. Premiums in higher-risk zones can soar to $5,000 and up.

Below, we shared quotes on how flood insurance may vary by flood zone. The quotes are provided by The Flood Insurance Agency:

Flood Zone

Annual Premium Quote

Zone X


Zone A


Zone V


Source: The Flood Insurance Agency (TFIA)

Property details:

  • Description: Single-story single family home
  • City: Hudson
  • Foundation: Slab
  • Year constructed: 1976
  • Square footage: 2,023
  • Building coverage: $250,000
  • Contents coverage: $100,000
  • Deductible: $5,000

Do You Need Flood Insurance in Florida?

Your mortgage lender may require flood insurance. Even if they don't, a flood policy may protect your property if a flood damages your home and belongings.

If you have a mortgage in a high flood risk area, there's a good chance you'll be required to have a flood insurance policy.

Mortgage requirement

If you have a mortgage backed by the federal government, the terms of that loan may require you to have flood insurance if you live in an area that is considered a high flood risk. According to the New York Times, these federally-backed loans represent about 70% of all mortgages.

Even if your mortgage is not federally-backed, your mortgage lender may require you to carry flood insurance. After all, the property is the collateral for the loan. That insurance protects the lender from losing their collateral to a disaster. Flood insurance can provide a crucial form of coverage that standard homeowner's policies don't include.

Protecting your investment

Even if you don't have a mortgage that requires you to carry flood insurance, it might be wise to protect yourself from the devastating financial losses of a flood.

According to the NFIP, flooding causes an average of $5 billion in damage nationally each year. About 40% of the claims the NFIP covers come from outside what are considered high-risk flood zones, so this type of disaster can strike almost anywhere.

Besides covering you against loss, the NFIP can provide up to $30,000 in funding for flood mitigation measures, to help insured properties avoid some of the damage that floods can cause.

Find Affordable Flood Insurance in Florida

Private Insurance vs NFIP

The NFIP is not your only option if you're looking for flood insurance in Florida. In fact, it is well worth looking at private insurers before you settle on a flood insurance policy. Every insurance company uses its own methods of assessing risk. This is one reason why premiums differ so much.

You may be able to find a private insurer that would charge you a cheaper rate for flood insurance than the NFIP. In fact, the NFIP recently changed its risk assessment methodology. According to the NFIP, most policyholders will see an increase in premiums due to this change.

Besides cost, another reason to consider a private insurance company is to get coverage that more fully reflects your property's value. NFIP coverage is capped at $250,000 for your home and $100,000 for the personal property in the home. With many homes in Florida worth well over $250,000, you might need another source of insurance to cover your potential losses.

The NFIP is not your only option if you're looking for flood insurance in Florida. A private insurer may cost less.

Flood Insurance Companies in Florida

Here is a list of insurance companies that provide NFIP policies in Florida:


Liberty Mutual

American Commerce

National General

American Strategic

NFIP Direct

American Traditions




Auto Club South

Pacific Specialty

Auto Owners

Philadelphia Indemnity

Avatar Property and Casualty

Privilege Underwriters

Bankers Insurance Group


Centauri Specialty


Farmers Insurance Group


FedNat Insurance Company

Southern Farm Bureau

First Protective/Frontline

Southern Fidelity

Florida Family

United Property & Casualty

Hartford Fire Insurance

USAA General Indemnity

Hartford Underwriters

Westfield Insurance


Wright National Flood Insurance

Florida Flood Insurance FAQs

Do all homeowner's insurance policies include flood coverage?

No, flood insurance is typically excluded. However, it can be added to a standard homeowner's policy at an extra cost.

Am I required by state law to have flood insurance in Florida?

No. Most likely, any requirement to have flood insurance will come from your mortgage lender. Also, when you consider the risk you might decide that having flood insurance is common sense even if it isn't required.

Do I have to buy my flood insurance through the National Flood Insurance Program?

No. That NFIP program is there to make sure flood insurance is available to people who may need it, but private insurers also provide coverage, with wider choices, better coverage and cheaper prices.

Get Affordable Florida Flood Insurance Coverage Now

With NFIP premiums rising for most policyholders, this is a perfect time to shop around and see if there are more affordable coverage options out there. Don't rule out the idea of getting a private flood insurance policy until you've compared prices because you may be pleasantly surprised.

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