Flood - Windstorm Insurance

Flood Insurance

The Florida Keys are made up of 120 islands (Keys) all of which are subject to flooding due to their location in a coastal flood plain.  An elevation certificate is used to determine the flood elevation of a property.  Homes built before January 1, 1975 need to be out of the flood plain for coverage.  When you purchase property in Monroe County it's important to know the elevation and whether or not the parcel number (found by looking up the property on the tax assessors website) is on the FEMA list. 

On September 9, 2005 the US District Court issued an order affecting flood insurance in Monroe County, Florida.  This order does not allow the issuance of flood insurance for a structure built after September 9, 2005.  Certain conditions apply.

Flood Zone Map
FEMA Flood Insurance Info
List of real estate ID numbers for parcels covered by injunction
FEMA: Flood Hazard Map Tutorial

National Flood Insurance:  In Florida, flood insurance is generally required when financing in an area designated to flood within a 30 year period.  Flood insurance is not a requirement for cash purchases.  Flood insurance is available through the NFIP (National Flood Insurance Program).  Flood Maps

Flood Insurance is available in Monroe County through Citizens Insurance.  

For more information visit FIRM: Fair Insurance Rates for Monroe, a grass roots organization, dedicated to containing rates in a fair manor for Monroe County.  Join today and support an organization with dedicated to rates and coverages for flood insurance in Monroe County.

Click here to donate to FIRM now!

Flood insurance Increases an Average of 10% on April 1

The National Flood Insurance Program (NFIP) has released the 2015 rate changes which take effect on April 1. On average overall, rates are rising 10%. This is consistent with the 5-10% increases prior to the 2012 Biggert-Waters Act. There is also a new surcharge to pay for recent NFIP legislative reforms.

Last year, Biggert-Waters was amended for about 20% of policy holders who bought an older property (including second homes) and jumped from a subsidized rate to full cost for flood insurance overnight. The amendments resolve the implementation problems by resetting the rates to pre-Biggert-Waters levels and capping them at 18-25% per year in the future.

Attached is a spreadsheet which summarizes the April 1 changes. Please consult an insurance agent for specific properties.

2015 National Flood Insurance Rate Changes