Everything You Need to Know About Flood Insurance in Florida
At Florida 1st Insurance, we receive a lot of questions from homeowners and business owners preparing to purchase flood insurance.
To save you time, we’ve done the research and compiled the most frequently Googled questions about flood insurance in Florida—along with clear, straightforward answers.
Whether you’re wondering how flood insurance works, when it’s required, or how payments are handled, this guide will help you make informed decisions.
How Does Flood Insurance Work in Florida?
Flood insurance provides financial protection against flood damage caused by rising water, hurricanes, and heavy rains—events that are all too common in Florida. Most policies cover structural damage, electrical and plumbing systems, appliances, and personal belongings up to the policy’s limits.
One of the best ways to get flood insurance in Florida is to speak to an insurance agent who can help find the right plan to fit your needs.
When Is Flood Insurance Required?
Flood insurance is mandatory if:
- Your property is in a high-risk flood zone (FEMA-designated Special Flood Hazard Area) and you have a federally backed mortgage.
- You are purchasing a home with an FHA, VA, or USDA loan in a flood-prone area.
- Your lender requires it, even if your home isn’t in a high-risk zone.
To put things into perspective, fewer than 28% of homeowners under the age of 65 own their homes mortgage free. So this makes up a large number of people who are required to have flood insurance.
Even if you’re not required to have it, Florida’s unpredictable weather makes flood insurance a smart investment for homeowners and business owners alike.
How Is Flood Insurance Calculated?
Flood insurance rates are based on several factors, including:
- Property location & flood zone classification (FEMA’s flood maps determine risk levels)
- Home’s elevation (higher elevation means lower risk and lower premiums)
- Coverage amount & deductible (higher coverage = higher premiums)
- Type of policy (NFIP vs. private insurance)
Tip: You can use FEMA’s Flood Map Service Center here to check your property’s flood zone.
Can Flood Insurance Be Paid Monthly?
It depends on the provider.
- NFIP policies typically require full annual payment upfront.
- Private flood insurance companies may offer monthly, quarterly, or semi-annual payment options.
At Florida 1st Insurance, we can help you find a policy with flexible payment options that fit your budget.
Can Flood Insurance Be Transferred?
Yes! If you buy or sell a home with an existing flood insurance policy, the coverage can usually be transferred to the new homeowner, allowing them to maintain the same rate.
What If I Want to Update My Flood Insurance?
Whether you need to increase coverage, add a new property, or adjust your deductible, Florida 1st Insurance makes it easy to update your policy. One of the standout features of our service is that you can update your flood insurance immediately without a 30-day wait period. This flexibility allows you to stay protected and adapt your coverage to your current needs seamlessly.
Does Florida 1st Take Care of It?
Yes! At Florida 1st Insurance, we specialize in helping homeowners and business owners find affordable, reliable flood insurance coverage. Whether you need a new policy, want to update your existing coverage, or have questions, we’re here to help.
📞 Contact us today to get a personalized flood insurance quote!