Florida is paradise—until the water starts rising. With 8,436 miles of coastline, a notoriously high water table, and a hurricane season that can dump months’ worth of rain in a single weekend, the flood risks here are unlike anywhere else in the country.
Yet many Floridians are surprised to learn that standard homeowners insurance (and most commercial or renters policies) doesn’t cover flood damage at all. That gap matters because even homes that don’t exist in flood zones are at risk of flooding.
In this guide we’ll answer the question you probably Googled first—“How much is flood insurance in Florida?”—then walk through what that premium actually buys, who needs coverage, and smart ways to save.
Average Cost of Flood Insurance In Florida
So, roughly how much is flood insurance in Florida? On average, a policy through the National Flood Insurance Program (NFIP) runs about $865 per year—but those numbers are changing. The Federal Emergency Management Agency (FEMA) has updated its pricing system (called Risk Rating 2.0), and many homeowners will see their rates go up gradually over the next few years.
If your home is in a high-risk flood zone—especially near the coast—your premium could be much higher, sometimes over $3,000 a year. On the flip side, if you’re in a lower-risk area, it could be under $500.
Flood insurance policies through private companies usually cost a bit more—around $1,400 to $1,500 a year.
Of course, these are just averages. Your actual cost will depend on where your home is, how it’s built, and which type of policy you choose.
What Does Flood Insurance Cover?
Whether you go through the NFIP or a private flood insurance company, flood insurance generally covers two main things: the structure of your home (called building coverage) and your personal belongings inside it (called contents coverage).
Building coverage helps pay to repair or rebuild your home’s physical structure after a flood. That includes the foundation, walls, floors, electrical and plumbing systems, HVAC equipment, water heaters, and built-in appliances. Contents coverage protects your personal property—things like furniture, electronics, clothing, and other belongings.
It’s important to know that flood insurance won’t cover everything. For example, damage to landscaping, fences, or vehicles usually isn’t included. And certain items stored in basements may have limited or no coverage. That’s why getting the right limits—and understanding what’s excluded—is just as important as having the policy in the first place.
Is Flood Insurance Required In Florida?
Flood insurance isn’t required by state law in Florida—but that doesn’t mean you don’t need it.
If your home is in a high-risk flood zone, most mortgage lenders will require you to purchase flood insurance as a condition of the loan. In addition, some insurance companies in Florida—including Citizens Property Insurance, the state-backed home insurer—may require you to carry a separate flood insurance policy in order to maintain coverage, even if your property is in a moderate- or low-risk area.
It’s also worth noting that Florida law requires sellers to disclose whether a property has ever received federal disaster assistance or had a flood insurance claim. That’s one more reason to pay attention to flood risk, even if coverage isn’t technically required in your case.
And while you may not have to carry flood insurance, it’s worth considering regardless of your zone. According to FEMA, about 25% of all flood insurance claims come from properties in low- or moderate-risk areas. Just because it’s not required doesn’t mean it’s not necessary.
What Affects the Cost of Flood Insurance?
Flood insurance premiums can vary a lot from one home to the next—even on the same street. That’s because several key factors go into calculating your cost.
1. Location and Flood Zone
Your home’s location is one of the biggest pricing factors. If you’re in a Special Flood Hazard Area—a high-risk flood zone—your premium will almost always be higher. Even within the same county, homes closer to water or in lower elevation areas will generally cost more to insure.
FEMA’s updated Risk Rating 2.0 system now looks at specific property risk instead of just broad zones, which means rates are more personalized than ever.
2. Elevation and Construction
How your home is built matters, too. Homes that sit higher above ground level, especially those elevated on pilings or built above base flood elevation, tend to qualify for lower premiums. The same goes for homes with flood-resistant materials, raised utilities, or other mitigation features that reduce the risk of serious damage.
3. Type of Coverage and Insurer
NFIP policies have standardized limits—up to $250,000 for building coverage and $100,000 for contents—but private flood insurance companies may offer more flexible options, including higher limits or optional coverages. Your premium will depend on the amount of coverage you choose, your deductible, and the specific underwriting guidelines of the insurer.
Ultimately, the only way to know your true cost is to get a personalized quote that takes all of these factors into account.
NFIP or Private?
When comparing NFIP and private flood insurance, the biggest difference comes down to how much coverage you get for the price you pay.
NFIP policies are generally more affordable (especially for homes in lower-risk areas) but they come with fewer options. You can’t raise the limits, add extra coverages, or customize much beyond your deductible.
Private flood insurance policies, on the other hand, tend to cost more—but they often come with more flexibility. Many private insurers allow higher coverage limits, include optional add-ons like loss of use or basement contents, and may even offer shorter waiting periods or discounts for mitigation features. That added value is what you’re paying for.
If your priority is keeping your premium as low as possible, an NFIP policy might make the most sense. But if you’re looking for more protection—or your property needs coverage beyond the NFIP limits—it’s worth exploring what private flood insurance has to offer.
How To Save On Flood Insurance
Flood insurance doesn’t have to break the bank—especially if you know a few smart ways to keep your premium down.
One of the easiest ways to lower your flood insurance premium is to choose a higher deductible. Just like with other types of insurance, a higher deductible means you take on more risk upfront, which lowers your monthly or annual cost. Be sure to pick a number you’re comfortable paying out of pocket if you ever need to file a claim.
Another way to save is by providing an Elevation Certificate, which shows your home’s elevation in relation to the expected flood level. While it’s no longer required for NFIP policies under FEMA’s new pricing model, it can still help lower your premium if it shows your home is built above the base flood elevation.
Mitigation efforts can also make a difference. Things like elevating your HVAC systems, installing flood vents, or raising the structure itself (in some cases) may qualify you for discounts with both NFIP and private flood insurers. These upgrades can reduce your risk—and your cost.
Finally, it’s worth shopping around. The NFIP offers standardized pricing, but private flood insurance companies set their own rates and often provide more flexibility with deductibles, discounts, and coverage bundles. An independent insurance agent can help compare options and find the best fit for your budget.
Protection From What You Don’t See Coming
Floods can happen fast—and often in places you wouldn’t expect. In Florida, even homes outside high-risk zones face rising water risks due to storms, drainage issues, and sea level rise.
That’s why flood insurance isn’t just for people in evacuation zones or beachfront homes. It’s for anyone who wants peace of mind and a safety net they can count on. And the good news? It’s more affordable—and customizable—than many people think.
If you’re ready to protect your home and your finances, Darr Schackow Insurance is here to help. Our team can shop both NFIP and private flood insurance options, explain your coverage, and help you find the best policy for your needs and budget.
Contact us today for a free quote—before the next storm rolls in.