You are here:HomeIssuesFlood Insurance2017AP: Florida Flood Policies Declined by 15%

AP: Florida Flood Policies Declined by 15%

Florida’s total number of federal flood insurance policies has declined by 15 percent in the last five years, according to Federal Emergency Management Agency data. With 1,350 miles of coastline, the most in the continental United States, Florida has roughly 2.5 million homes...
September 11, 2017

Florida’s total number of federal flood insurance policies has declined by 15 percent in the last five years, according to Federal Emergency Management Agency (FEMA) data. With 1,350 miles of coastline, the most in the continental United States, Florida has roughly 2.5 million homes in hazard zones, more than three times that of any other state, FEMA estimates.

However, across Florida's 38 coastal counties, just 42 percent of these homes are covered. Florida's overall flood insurance rate for hazard-zone homes is just 41 percent. An Associated Press analysis found that in Collier, Broward, Monroe, and Miami-Dade counties, where 1.3 million houses are estimated to be in flood hazard zones, the percentage is an even lower at 34.3 percent. Florida’s property owners still buy far more federal flood insurance than any other state — 1.7 million policies, covering about $42 billion in assets — but most residents in hazard zones are badly exposed.

 

Filed under: