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By: Hemanth Ramesh August, 01, 2019

Florida experiences a higher risk of flooding because of its close proximity to the water, both inland and near the coast. Data collected by Gavop suggest that the average flood insurance policy in Florida cost $545 on average per annum. Depending on the location of the property, flood insurance rates vary from $150 to $2,000.  Typical homeowners insurance policies, however, do not cover damages caused by floods. The average homeowners insurance costs $3,575, which is higher than the national average of $1,228.

The National Flood Insurance Program (NFIP) offers flood insurance in the United States. Homeowners can also purchase flood insurance policies from private insurance firms in Florida. These private insurance firms write primary or excess flood insurance outside of those provided by NFIP. However, some of these firms write a limited number of policies such as those for properties of high value. NFIP imposes an annual $25 increase in its flood insurance premium rate and as much as $250 if the property is not the homeowner’s primary residence.

The following graph shows the average flood insurance premium rates in St. Petersburg, Tampa, Tallahassee, Orlando, Jacksonville, Fort Lauderdale, Miami, Hialeah, Port St. Lucie, and Pembroke Pines


NFIP defines a flood as a temporary and general condition during which a normally dry land is completely or partially inundated. A minimum of 2 properties and at least 2 acres of land must be affected. A flood can be caused by the following reasons:

  • Overflow of tidal or inland water
  • Rapid accumulation of runoff or surface waters
  • Mudslide caused by flooding
  • Collapse of land near a water body owing to erosion caused by waves or water currents

Damages caused by rainwater entering through wind-damaged windows, roofs, and doors or a hole in the wall are defined as damages caused by a windstorm and not flood damage. These damages are not covered by NFIP.


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Hemanth Ramesh

Hemanth Ramesh works as a writer for Gavop. He has previously written content for film promotions, start-ups, advertising agencies and event management firms. Hemanth Ramesh completed his MA in Journalism and Mass Communication from The English and Foreign Languages University. His other passion includes script writing.