Florida flood insurance

Why Florida homeowners need flood insurance

Despite how common floods are in Florida, flood damage won't be covered by a home insurance policy alone. And the cost of going uninsured can add up fast. According to the National Flood Insurance Program (NFIP), a single inch of floodwater can do up to $25,000 of damage. This is slightly lower than the average Florida flood insurance payout, which is about $28,900 per claim.

Florida is more likely to flood than any other state. Despite Florida's high flood risk, just 13 percent of homes in the state are insured under a flood policy. Homeowners without a flood insurance policy would be on the hook for flood-related expenses, which can be financially devastating. If you have a mortgage on your Florida home, your financial lender will more than likely require you to carry a flood policy in addition to your home insurance.

Flood insurance mandate for Citizens policyholders

In an effort to address the ongoing Florida homeowners insurance crisis, the state legislature passed Senate Bill 2-A in December of 2022. Among the many features of the bill was a new flood insurance requirement for Floridians insured with the state-backed Citizens.

The state is using a roll-out approach regarding the flood insurance mandate. If your home is insured with Citizens and located in a federally designated flood zone, you were required to have a flood policy by July 2023, whether you have a mortgage or not. The rest of the phase-in is based on a property's replacement cost, starting with the most expensive homes.

All Citizens-insured homes with a replacement cost of more than $500,000 were required by January 2025 to have flood insurance. In January 2026, the threshold will drop to $400,000, and after January 2027, all homes with Citizens insurance will be included in the mandate.

If your Citizens policy excludes wind damage, you are not subject to the flood insurance requirement.

Cost of flood insurance in Florida

Flood insurance rates in Florida will vary depending on the individual risk profile of your property, the replacement cost of your home and the type of insurance you purchase. The average cost of NFIP flood insurance in Florida was $865 a year in March 2025, according to FEMA data.

Risk Rating 2.0, the new way of calculating NFIP premiums that uses the property's replacement cost and individual flood risk, gave 20 percent of Florida policyholders a break by lowering their premiums. About 68 percent of policyholders saw an increase of $10 or less a month and 12 percent had an increase of more than $10, according to data from the Federal Emergency Management Agency.

Private flood insurance in Florida will likely cost more than NFIP, which is subsidized by taxpayers, but private policies tend to offer broader, more customizable protection. For example, policies from private flood insurance companies in Florida may include “loss of use” protection that pays for alternate accommodations if your home isn't habitable. It may even include boarding for your pet. And, for business owners, it may reimburse you for your loss of income. NFIP policies don't have that type of coverage, though you may qualify for FEMA grants to cover lodging if you live in an area that has been declared a federal disaster zone.

Before you select a policy and settle on the best type of flood insurance for your situation, check with your mortgage company to see what, if any, specific requirements exist for your flood coverage. Remember that if you live in a designated flood zone and you have a mortgage, your lender will likely require a flood policy. Even if you don't live in a flood zone, it might be wise to think about getting flood coverage. About 40 percent of NFIP claims are for properties outside of flood zones, according to FEMA.

How to save on Florida flood insurance

Obtaining an elevation certificate may help you secure a more affordable Florida flood insurance rate. The elevation certificate is an official document that shows a building's first-floor height and overall compliance with FEMA ordinances. If your home's first-floor height is higher than the adjacent grade, you could receive a discount on your policy. For example, if your first floor is two feet higher than the adjacent grade, you may qualify for a 15 percent discount off an NFIP policy. If your home has a crawl space and a first floor two feet above the adjacent grade and you have flood vents, meaning openings in the foundation to let out flood water, you may qualify for a 1 percent discount. 

Another way to save some money on your flood insurance policy is to choose a higher deductible. The deductible is the amount of money you are financially responsible for after you file a covered claim. Essentially, it's the amount of money you have to cover before your insurance starts paying. Although choosing the maximum deductible can be tempting, make sure not to raise it too high. 

NFIP deductibles range from $1,000 to $10,000. You may find that the higher deductible isn't saving you a lot on a monthly basis. The only way you'll know is to run different scenarios, either using NFIP's quoting tool or asking your insurance agent.

As a rule of thumb, most insurance experts recommend keeping your deductible at a level you could comfortably afford to pay out of pocket.

How to purchase flood insurance in Florida

To begin your search for the best flood insurance in Florida, you might want to use NFIP's quote tool to see how much coverage will cost, running different scenarios such as the amount of coverage you need and the amount of the deductible. You can print or email yourself the quote and take it to an agent who sells NFIP policies. To find a company that handles NFIP insurance, use the NFIP's “find an agent search.” As of July 2025, there were 32 companies that issue flood policies on behalf of the NFIP.

You may also want to consider a policy from a private flood insurance company in Florida — though remember that a private flood insurance provider may end up trying to sell you an NFIP policy, as they tend to be much cheaper, though offering fewer benefits.

For private flood insurance, to find the best flood insurance companies in Florida you can use the online quote tool many private insurers have on their websites. Or, you can call the companies directly to find out how much a private policy would cost. You might want to start with your home insurance company first. They may have a partnership with a private company to help facilitate the buying process.

The Insurance Information Institute (Triple-I) highlights the top 10 private flood insurance companies in Florida in 2024 by market share:

Frequently asked questions