If you live in flood-prone areas in Florida, flood insurance is something that you are familiar with. If you have ever had to deal with a flood before, then there is no doubt that these policies can be expensive and hard to get if your area is not covered. But do you know about the changes after October 1st, 2021? That’s right: flood insurance rates will increase for many people living in high-risk areas! Thankfully, we’re here to provide some essential information about the changes.

Flood insurance changes

First, flood risk ratings have increased from a flood zone-based system to one that is more heavily based on flood elevation. In other words, the government will now look at how much water would be in your home as opposed to where you live. For those living near rivers or coastlines this could mean higher premiums and people who have already been through multiple floods might find it particularly difficult. The article includes some helpful advice about what else comes with insurance coverage and why you should consider getting it even though there are many different options available today.

What is flood insurance?

Flood insurance is a specific type of coverage that protects your home and belongings from flood damage. This makes it different than other types of policies which cover damages caused by things like fire, theft, or hailstorms. You can get insurance through the federal government’s National Flood Insurance Program (NFIP) and you now private flood companies offer coverage.

What are some common misconceptions about flood insurance?

– insurance should only be purchased if you are in a flood zone

– insurance is difficult to get or expensive

What does flood insurance cover?

– damage from overflows of lakes, rivers, and streams. Flood waters can reach far beyond the area where your home sits so being covered could mean reduced costs for future repairs.

– damage to your home and belongings from floodwaters. This could include things like appliances, furniture, clothing, and important documents such as birth certificates or passports. If you do not have flood insurance, then these items would be considered lost costs in the event of a flood

What types of homes can get flood insurance?

All homes that are in flood zones. Flood insurance is available for homeowners, renters and even business owners.

Why should you get flood insurance?

– most people do not realize that they are required to have flood insurance if their home has a federally backed mortgage

– premiums can be expensive but it could save thousands of dollars overall

What flood zones are there?

flood insurance rates change based on the flood zone you live in. There are six different flood zones with Zone A being considered as a high-risk area and Zones V as low risk. Check your flood map to find out which one you reside in.

What are the changes after October 1, 2021?

Most flood insurance rates will increase for many people living in high-risk areas. The flood rates will now be based on the home rather than set by a flood zone.

What are the expected changes in Florida?

According to FEMA, the proportion of Florida homes receiving higher or lower rates:

  • 19.8%: Lower insurance costs
  • 68.1%: Either no change or a yearly increase less than $120
  • 7.8%: A premium increase between $120 and $240 per year
  • 4.2%: A premium increase greater than $240 per year


If you want to discuss options for flood insurance, please call us at 561-732-9305 our quoting hours are Monday through Friday from 8:30 AM to 5:00 PM. In addition, you can request a quote online. Please remember, We Handle All the Work, While You Save!

Let Us Handle All the Work While You Save