Overview
- Experts warn flood risk in Florida is statewide and can come from routine heavy rain inland as well as coastal storms, so living away from the shore does not eliminate the need for coverage.
- Most new flood policies do not take effect until about 30 days after purchase and insurers enforce moratoriums on new sales when storms are forecast, which means buyers cannot wait until a storm is imminent to get protection.
- Florida has expanded seller flood-disclosure requirements to include a property's flood history, past flood-claims and whether it received federal disaster aid, information intended to help buyers assess risk before closing.
- Citizens Property Insurance is phasing in broader flood requirements so that most existing customers must carry flood insurance and all new Citizens policies must include flood coverage.
- Federal flood rules remain in flux as lawmakers debate changes to the National Flood Insurance Program, and homeowners should weigh NFIP limits—about $250,000 for a single-family structure and average state premiums near $894 a year—against private-market options for higher-value protection.