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Florida Flood Insurance


Homeowners are being hit with substantial increases to their flood insurance premiums due to Congress passing the Biggert-Waters Act because the National Flood Insurance Program was faced with a 24 billion dollar deficit. The new law will affect approximately 268,000 homes in Florida. Most are older homes that were subsidized by the national flood insurance program. 

These individuals will now experience gradual to sharp increases to their premiums under a provision of the act that took effect on October 1, 2013. Under the Biggert-Waters Act, property owners who received subsidized rates in the past for non-primary homes and commercial property will see annual increases in their rates of up to 25% until the rate matches the full risk rate.

If you have any questions if your property is affected, you should contact your insurance agent. You need a professional that understands the flood insurance program.

The simple expalnation is the rates are determined by FEMA flood zones. The higher the risk, the higher the premiums.

FEMA has created the following zones:

  • V zones are usually located near the ocean and are particularly vulnerable to storm surges. They are the highest risk, and premiums are the most expensive.
  • A zones are usually located near a river, lake or stream, the second highest risk zone. Average premium is around $500-$600 annually.
  • B, C, X, and A99 zones are less prone to flooding. You may not need to carry flood insurance if your house is located in one of these zones. 

If you are in the market for a home in Cape Coral, Ft Myers, Estero, Bonita Springs or anywhere else in Florida, know what type of zone the property is located in. It could save you an unexpected expense.

Click to contact Michael Rogala, Broker Associate or 

call 239-738-8088 today to learn more about Cape Coral, Fort Myers or Southwest Florida Real Estate!

Serving Cape Coral and Fort Myers - Lee County, Southwest Florida.