COVERAGE / FLOOD
Do I need flood insurance in Florida?
The entire state of Florida is a flood zone. Whether you are required to carry it comes down to three questions: are you in an emergency zone, do you have a mortgage, or do you have a Citizens policy.
HIGH RISK
Coastal flooding from hurricanes and storm surge, inland flooding from heavy rain, flash flooding in some areas. FEMA designated emergency zones are the most exposed.
LEGAL REQUIREMENT
With a mortgage on a property in a designated high-risk zone, your lender will usually require it.
OUTSIDE THE HIGH-RISK ZONE
Still worth considering. Homeowners does not cover flood, so without it the repair and replacement cost is yours. Flood insurance can also cover wind driven rain events not covered by your home insurance.
CITIZENS POLICYHOLDERS
With a Citizens policy, flood is required whether or not you have a mortgage. The exception is a condo.
Groundwater rising onto normally dry land. A coastal area inundated after a hurricane is flood. A pipe break or an overflowing toilet is not. There are sometimes disputes between the carrier and FEMA over whether an event was flood or hurricane, which is why in a coastal area you want both a hurricane policy and a flood policy.
Yes. Some areas are further designated as emergency zones, where flood is mandatory for mortgage holders and Citizens policyholders.
Typically up to $250,000 for the structure and $100,000 for contents. All flood policies are underwritten through FEMA, so the price is the same no matter which company sells it to you.
Look at how your property drains. If it has any history of standing water, carry it. On a recent purchase where you do not know yet, a small policy for a couple of years is a reasonable way to find out.
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