Under section 626.112 of the Florida Statutes, comparing insurance products and advising a consumer on insurance matters is the work of a licensed agent. FloodReady Florida holds no insurance licence. So this page describes how each channel is structured, using published federal program rules and the text of Florida law, and stops there. It contains no recommendation, no ranking, and no premium figure for your property.
How the NFIP is built
The NFIP is a federal program run by FEMA. A homeowner in a participating community buys a Standard Flood Insurance Policy. Four facts define it.
One pricing approach, nationally. FEMA states that the NFIP partners with more than 48 insurance companies and thousands of independent agents, that they all use the same pricing approach, and that each one offers the same rates — so you do not have to shop around.
Fixed coverage containers. For a single-family home, building coverage runs up to $250,000 and contents up to $100,000. The two are purchased separately with separate deductibles, so one flood event can mean paying two.
A defined exclusion list. FEMA publishes what a standard policy never pays for, and the one that hits Florida homeowners hardest is temporary housing and additional living expenses while the home is repaired. Also excluded: valuable papers, most vehicles, property in basements, and anything outside the building.
Program rules that travel with it. Coverage takes effect 30 days after purchase, with four published exceptions — set out on our 30-day waiting period page. Increased Cost of Compliance provides up to $30,000 after substantial or repeated damage, and annual increases are capped by law at 18 percent for most policyholders. Eligibility does not depend on your zone: more than 20 percent of NFIP claims come from outside high-risk areas.
How Florida's non-NFIP flood market is built
Florida has its own statute for flood coverage written by authorized insurers: section 627.715 of the Florida Statutes. It names five product shapes:
- Standard — covers only the peril of flood, equivalent to an NFIP standard policy, with the same coverage, deductibles and loss adjustment.
- Preferred — everything standard includes, plus three the statute requires: water intrusion from outside the structure, additional living expenses, and contents adjusted on a replacement cost basis.
- Customized — broader than standard.
- Flexible — must include at least one listed provision, such as a limit tied to the outstanding mortgage or a hurricane-style deductible.
- Supplemental — sits on top of another policy.
The definition of "flood" is written into the statute: inundation of two or more acres of normally dry land, or of two or more properties, from overflow of inland or tidal waters, rapid runoff of surface water, mudflow, or shoreline collapse. That is why an air conditioner condensate leak is never a flood claim in either channel.
Rates are filed, not national. An insurer sets flood rates under the standards in section 627.062, and must notify the Office of Insurance Regulation at least 30 days before writing flood in Florida. Each files its own, so there is no single price for a building.
Two doors, and a certification. An authorized insurer writes under the statute directly; separately, an agent may export flood coverage to an eligible surplus lines insurer without the usual diligent effort to seek coverage from three or more authorized insurers. An insurer may also ask the Office of Insurance Regulation to certify that a policy equals or exceeds NFIP coverage — worth asking about by name if a lender requirement started this search.
What follows sets those parts beside the federal ones. No row is a recommendation.
The structural differences, side by side
| Structural feature | NFIP (federal program) | Coverage under Fla. Stat. § 627.715 |
|---|---|---|
| Who backs the policy | The federal program, serviced by participating insurers | The individual authorized or surplus lines insurer |
| How price is set | One national pricing approach; every participating company offers the same rates | Each insurer's own filed rates under Fla. Stat. § 627.062 |
| Who regulates it | FEMA, under federal program rules | The Florida Office of Insurance Regulation |
| Coverage limits | $250,000 building / $100,000 contents for a single-family home | Set by the policy form and the insurer's filing |
| Additional living expenses | Not covered by a standard NFIP policy | Required in "preferred"; definable in "flexible" |
| Product variants | The Standard Flood Insurance Policy | Five named bases, from standard to supplemental |
| Increased Cost of Compliance | Up to $30,000, subject to qualifying conditions | A policy-form question, not a program benefit |
| Annual increase cap | 18% per year for most policyholders while on the glide path | No federal glide-path cap; changes follow the insurer's filings |
| Waiting period | 30 days from purchase, with four published exceptions | A term of the contract; confirm with the placing agent |
| Can Citizens write it? | Not applicable | No — § 627.715(6) bars Citizens from the peril of flood |
The Citizens requirement landing on 1 January 2027
Citizens publishes that, in compliance with Florida Statute 627.715, most of its new and renewing Personal Residential policies that include wind coverage must also have and maintain flood insurance by 1 January 2027, under a phase-in created in December 2022.
Inside a Special Flood Hazard Area the requirement already applies. Outside it, Citizens publishes a schedule by dwelling (Coverage A) value: $600,000 or more from 1 January 2024, $500,000 from 2025, $400,000 from 2026, and all policies regardless of value from 1 January 2027. Condominium unit-owner and tenant contents policies, and policies excluding windstorm or hail, are not subject to it. Because § 627.715(6) bars Citizens from writing flood itself, that coverage must come from elsewhere.
Find out from Citizens or your own licensed agent which phase your policy falls into and what your renewal date is. That determines whether you have months or weeks — and any waiting period sits on top of it.
The notice you sign before leaving the NFIP
Section 627.715(8) requires an agent to provide a written notice, signed by the applicant, before placing flood coverage with an admitted or surplus lines insurer for a property currently insured under the NFIP. The notice must state that if the applicant discontinues NFIP coverage provided at a subsidized rate, the full risk rate may apply if they later seek to reinstate coverage.
That is the one asymmetry here: leaving is easy, and coming back may not return you to where you started. Whether it matters depends on whether your premium is subsidized at all — something a licensed agent can establish in minutes.
What to bring to a licensed agent
Arrive with four things: your flood zone and panel date from FEMA's Flood Map Service Center; your foundation type and first-floor height; your rebuild cost, which is not market value; and your lender's written flood requirement, which narrows the field before anything else does.
Then ask the structural questions this page has set up: what is available for this address in each channel, whether any policy offered is certified under section 627.715(11), and what the effective date would be.
Talk to someone who is licensed to compare
We cannot compare policies or insurers for you. What we do is pass your details to one independent, licensed Florida insurance agency serving your ZIP code — so one person calls you back, rather than nine.
Common questions
Which is better, NFIP or private flood insurance?
We cannot answer that. Under Florida law, comparing insurance products and advising on insurance matters is the work of a licensed agent, and FloodReady Florida holds no insurance licence. This page describes how each channel is structured so the conversation with a licensed agent starts further along. The answer depends on your building, your lender's requirements, and what is available for your address.
What are the five types of flood coverage a Florida insurer can write?
Section 627.715 of the Florida Statutes names them: standard, preferred, customized, flexible and supplemental. Standard must be equivalent to an NFIP standard flood insurance policy. Preferred must include everything standard includes plus water intrusion from outside the structure, additional living expenses, and replacement cost adjustment on contents. Customized must be broader than standard. Flexible must include at least one listed provision, such as a limit tied to the mortgage balance. Supplemental sits on top of another flood policy.
Can Citizens Property Insurance write my flood coverage?
No. Section 627.715(6) of the Florida Statutes states that Citizens Property Insurance Corporation may not provide insurance for the peril of flood. That is why a Citizens policyholder who is required to carry flood coverage has to obtain it from the NFIP or from an insurer writing flood coverage in Florida.
What is the notice my agent asks me to sign before leaving the NFIP?
Section 627.715(8) requires an agent to give you a written notice, which you sign, before placing flood coverage with an admitted or surplus lines insurer for a property that currently has NFIP coverage. The notice tells you that if you discontinue NFIP coverage provided at a subsidized rate, the full risk rate may apply if you later seek to reinstate coverage under the program.
Sources
- The Florida Senate — Florida Statutes § 627.715, Flood insurance. The five coverage bases, the statutory definition of flood, rate filing, surplus lines export, the Citizens prohibition at subsection (6), the pre-placement notice at subsection (8), and OIR certification at subsection (11).
- The Florida Senate — Florida Statutes § 626.112. Licence requirement for transacting insurance, including soliciting and advising as to insurance matters.
- FEMA, National Flood Insurance Program — What you need to know about buying flood insurance. Coverage limits, separate deductibles, the exclusion list including temporary housing and additional living expenses, the 30-day waiting period and its four exceptions, and the statement that more than 48 participating companies all offer the same rates.
- FEMA — Cost of Flood Insurance for Single-Family Homes under NFIP's Pricing Approach. Rating factors, the glide path and the 18 percent statutory cap.
- FEMA, NFIP for Agents — Increased Cost of Compliance Coverage. The $30,000 limit and qualifying conditions.
- Citizens Property Insurance Corporation — Flood. The flood coverage requirement, phase-in dates by dwelling value, and the exclusions for condominium unit-owner and tenant policies.
- Florida Office of Insurance Regulation — Flood Insurance. Florida's regulatory role and the public list of companies eligible to write flood coverage under s. 627.715, F.S.
- Florida Department of Financial Services — Licensee Search. Verify an insurance agent or agency licence.
FloodReady Florida is not an insurance agency, insurance agent, broker, or public adjuster, and is not licensed to transact insurance in Florida or any other state. We do not sell insurance, quote premiums, recommend policies, or compare specific insurers or products. Everything on this page is a published program rule or the text of Florida law with its source named. None of it is insurance advice, and none of it is a recommendation to buy, keep, or cancel any coverage.
If you ask us to, we pass your details to one independent, appropriately licensed Florida insurance agency serving your area. We are paid a flat referral fee, and that fee is fixed and is not dependent on whether you buy anything. We receive no commission, override, or any payment contingent on a sale.
Statutes, program rules and product availability change. Confirm current terms with a licensed professional, and read official National Flood Insurance Program information at floodsmart.gov.
Keep reading: The 30-day waiting period · What flood insurance costs · Do I need it? · Claims guides