New Florida Flood Insurance Requirements For 2023

Do You Know Your Homeowners Insurance Does Not Cover Damages From Flooding?

The severity of flooding has increased in recent years and most people are unaware that flood is excluded from their basic property insurance policy. Flood damages are excluded from your standard homeowners insurance policy, therefore, it is purchased as a separate policy from your home, dwelling, or commercial property insurance. The state of Florida just passed a law requiring flood insurance for certain residents starting in 2023. Read on to find out if you are one of them. Flood insurance can help cover the cost of repairs to your property and belongings if they are damaged by flooding. It can also provide coverage for additional living expenses if you are unable to live in your home due to flood damage.

What Are the New Changes?

Just this past month at the end of December, the state of Florida passed a historical bill for the property insurance market. One aspect of that bill is a new flood insurance requirement. Florida residents who have their home insured by the State-Run insurer, Citizens Insurance, will be required to purchase flood insurance along with their property insurance. This affects a large portion of the Florida populations as Citizens has become Florida’s biggest property insurer. This will require Citizens Insurance clients to explore their options for flood insurance.

What Should I do as a Florida Resident?

The Federal Government is the largest supplier of flood insurance that is administered through the NFIP (National Flood Insurance Program). There are also private insurance companies that offer flood insurance. Both options have pros and cons. In some cases, federally-backed flood insurance programs can provide lower premium, and in other cases, they could leave your property under-insured due to policy coverage limits. It is important to consult with an insurance advisor on which is best for you. An independent insurance agent will be able to explain and provide both options. You can get more information about flood insurance and find out if it’s right for you by talking to one of our agents at EnsureUp. Email us a with your flood insurance questions.

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