The new policy amounts will be phased in for new and existing customers over five years - and eventually all customers will need it based on property value, not just location.

And typically, flood insurance has always been one of those things that you can buy if you want it,” explained Jacksonville City Councilman Matt Carlucci, who’s also an insurance agent. The Sunshine State boasts over 1300 miles of coastline, making it the perfect place for sun and sand and flood. is concentrated along coastlines, and no state has more vulnerable beachfront miles than Florida. New customers in an area designated by FEMA as special flood hazard area will need flood insurance.Įxisting policyholders in those areas must obtain flood insurance at renewal for policies on or after July 1. 5 Things Floridians Should Know about Flood Insurance.

One of the resolutions that passed in the special session to help stabilize the insurance industry is the requirement that all Citizens policyholders obtain flood insurance by the year 2027.Īpril 1, however, is a significant date because it’s the first of several deadlines requiring customers of the state backed insurance company citizens to take an extra step to protect their homes. ″All of them more than doubled from January to March, and I’m not just talking just homeowners, I’m talking rental insurance, business, home,” Davis said. Davis says he hasn’t had a home insurance claim in more than 10 years, but his home insurance bills recently doubled.

Rules for new Citizens Property Insurance policyholders is part of legislation that was passed during a special session.įlood insurance is being required for Citizens policyholders to help solving Florida’s property insurance crisis.Īttorney Robert Davis is concerned that an active 2023 hurricane season and more catastrophic damage could result in more insurance companies pulling out of Florida, and yet another increase in Floridian’s home insurance premium.

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