Living in Florida has its perks, but it also means dealing with the reality of flooding. With the increasing frequency and severity of weather-related events, flooding has become a major concern for homeowners and businesses alike.
Understanding Citizens Flood Insurance Requirements:
Citizens Property Insurance Corp has taken a proactive stance to protect its customers from the peril of flood. As part of a phased-in approach by the Florida Legislature, Citizens will require that the majority of policyholders secure and maintain a separate flood insurance policy. Homeowners policies that include wind coverage and are located within a Special Flood Hazard (SFHA) as defined by the National Flood Insurance Program (NFIP) must now secure a separate flood insurance policy. For most homes that include wind coverage and are not in an SFHA area, homeowners will be required to purchase a separate flood insurance policy by January 1, 2027. This mandate is part of a broader strategy to enhance the resilience of homes against potential flood risks.
Citizens has a Planned Roll Out for Properties Based on Their Value.
January 1, 2024, for policies insuring property valued at $600,000 or more
January 1, 2025, for policies insuring property valued at $500,000 or more
January 1, 2026, for policies insuring property valued at $400,000 or more
January 1, 2027, for all other policies
*Note: Condominium unit-owner policies, tenant content policies and policies that do not include windstorm or hail coverage are not required to purchase flood insurance coverage.
Why Every Florida Resident Needs Flood Insurance:
Standard Homeowners Insurance Isn't Enough: Most standard homeowners policies don’t cover flood damage. Without a separate flood insurance policy, Florida residents could face severe financial losses.
Florida's High Flood Risk: Florida's geographical location makes it particularly vulnerable to hurricanes, storm surges, and heavy rainfall, all of which significantly increase the risk of flooding.
Safeguard Your Investment: Your home is likely one of the most significant investments you'll make. Flood insurance provides a safety net, helping protect your property and assets from the financial fallout of flood damage.
Solutions for Citizens Customers:
FloodPrice offers both NFIP and private flood insurance options to fit the varying needs of Citizens customers:
National Flood Insurance Program (NFIP): Backed by the federal government, the NFIP provides affordable flood insurance to property owners, renters, and businesses.
Private Flood Insurance: Private flood policies offer more coverage options and higher limits. With more flexibility, these policies can be customized to meet your needs.
Let Us Help You Shop for the Right Policy: Our flood insurance quote tool shops multiple private carriers looking for the lowest price. We can help you compare an NFIP policy to a private quote. Give us a call at 866-503-5663 and one of our flood experts will gladly assist you with both options.
How Expensive is Flood Insurance in Florida?
Average costs for flood insurance can vary substantially based on several factors, such as distance to water and elevation of the lowest floor. Visit our Florida Flood Insurance page for updated average NFIP cost information, as well as a chart with the top 10 most populated cities in Florida and their average cost per policy.
We recommend obtaining an obligation-free quote on our website to learn exactly how much flood insurance costs for your specific property. Our online private flood insurance quote tool surveys multiple carriers, so you can sit back and relax while we shop for you.
Understanding Your Flood Risk in Florida
Living in Florida, a state surrounded by seas and dotted with lakes, recognizing your flood risk is key. It might surprise you to learn that about 25% of flood claims come from areas thought to be low risk. This shows that flooding can occur just about anywhere it rains, especially in a peninsula like Florida. Given that your home is probably one of your biggest investments, making sure you have good flood insurance is essential.
Citizens Insurance recognizes the unique challenges faced by Floridians due to the state's geography and is dedicated to making sure homeowners are protected from potential flood damages. Not having flood insurance in such a high-risk area is a gamble that's not worth taking. Remember, flood insurance is a crucial step in safeguarding your home and financial stability against the unpredictable nature of flooding.
FloodPrice specializes in flood insurance!
As a trusted insurance provider, we stand ready to assist Citizens’ customers in securing the necessary flood insurance coverage to safeguard their homes and investments. Don't wait until the waters rise—take proactive steps today to ensure you are adequately protected against the unpredictable forces of nature.
