309 W. Gregory Street

Pensacola, FL 32502

(850) 332-5717

Customer Support

Mon - Fri: 9:00 - 5PM

Office Hours

Specifics on Flood Insurance

Flooding is the #1 Natural Disaster in the US. 

In 1968,  The U.S. Congress created the National Flood Insurance Program (NFIP) to help property owners obtain flood insurance.  Congress assigned the responsibility to administer the flood insurance program throughout Florida and the United States to FEMA (Federal Emergency Management Agency).  As part of that responsibility, FEMA mapped Florida’s topography to learn which communities and properties are most likely to sustain a flood.   FEMA  grouped properties into low, moderate, and high risk areas or flood zones.  A flood zone represents a properties’ risk to flood damage.  High Risk Flood Zones include A, AE, V, VE.  Low and Moderate Risk Zones are X, C, and B.

Here are some facts you should know:

  •  20-25% of all flood events occur in low-risk flood zones.
  •  Your house may be in a low-risk flood zone, it is never in a NO-RISK flood zone. Florida is surrounded by 3 sides of water, and is at sea level. 
  •  Homeowners, condo, and renters insurance policies do not typically cover flood damage, including flooding caused by hurricane storm surges.
  • Purchase a flood insurance policy so you are protected from a flooding catastrophe.

The cost of your Florida Flood Insurance policy will vary depending on three things: 

  1.  how much insurance coverage you need,  
  2.  how the property is used (home, rental, or business)
  3.  the flood zone assigned to your home or property. 

Flood Insurance Rates in Florida – 2017: Moderate Risk Areas

Mortgage companies or lenders will not typically require flood insurance in low risk zones. Low and Moderate Risk Zones are X, B, and C.

Annual PremiumBuilding Coverage AmountContents Coverage Amount

The chart above shows Flood Insurance costs for Florida homes that qualify for the Preferred Risk Program ). Rates of June 19, 2017. 

In low- to moderate-risk areas, premiums range from roughly $130 to $450 per year for homes. In high-risk zones, they can reach into the thousands. Use this chart when:

  • Your home is found in an Low or Moderate Risk Flood Zone (Zones X, B, or C) & doesn’t have a basement
  • The home is your primary residence & you occupy it 50% of the time.
  • If you live in the home less than 50% add $225 a year to the rates above.
  • If this is a rental home, add $225 a year to the rates above.

What is a Flood Zone?

Cost of High-Risk Flood Insurance in Florida: Zones A, AE, V, VE

When your home is located in a higher risk area, it is more likely to be affected by a flood event. Higher risk flood zones in Florida are typically found near beaches, lakes, rivers, ponds, and marshes.  If you have a mortgage, your lender will require you to purchase flood insurance for your home when it is located in a high risk flood zone.

Unlike low-risk areas,  properties in high risk zones do not have standardized rates, and every property will have different cost.  The cost of high risk flood insurance  is based on 4  things

  1. the base flood elevation in your area; (BFE)
  2.  how many feet above or below the base flood elevation your home was built 
  3.  the type of foundation and flood proofing. 
  4. Your Flood zone  AE vs VE

 FEMA determines all BASE flood elevations throughout the state, and publishes them on flood maps.  One thing to keep in mind is that base flood elevations are based of  the sea level and not in relationship to  yourneighbors home.  The base flood elevation is the elevation to which floodwater is anticipated to rise during an anticipated flood event.   A surveyor will measure and determine your property’s specific elevations in relation to the base flood elevation.  A surveyor provides this information on a standardized form called an elevation certificate. 

An elevation certificate is always recommended when your home is a high risk flood zone. You can get a quote without an elevation certificate, however, without the certificate, the cost may be thousands or tens of thousands of dollars more out of your pocket.  

If you are in a one of these high risk zone or special flood hazard, your premium will be based on how far below or above the BFE your home’s actual elevation is (measured from sea level).   Flood insurance for homes located in an AE flood zone cost substantially less than those in VE flood zones. VE flood zones apply to areas that have a risk for storm surges during hurricanes or tropical storms.  

To determine your actual cost for flood insurance, our best recommendation is to get a flood elevation certificate. Then talk to us 

Don't lose coverage. Let Classic Insurance help today!

Related Posts

Florida Insurers FINALLY Made Money in 2023; HUH?

With YEARS of claims for everything from Hurricanes to dishwashers, “Florida has struggled to maintain stability in the state insurance market since 1992 when Hurricane Andrew flattened Homestead, wiped out some insurance carriers and left many remaining companies fearful to write or renew policies in Florida.”

Read More »

Get Insurance Quotes