Last reviewed: October 2026.
Florida homeowners can buy flood insurance from the National Flood Insurance Program (NFIP), run by FEMA and sold through insurance companies and agents, or from a private flood insurer. This is a general comparison. Every private policy is different, so check the actual policy.
At a glance
| NFIP | Florida private flood | |
|---|---|---|
| Building limit (residential) | Up to $250,000 | Set by each company |
| Contents limit | Up to $100,000 | Set by each company |
| Contents paid at | Actual cash value (depreciated) | Varies. Florida’s “preferred” private flood type must pay replacement cost |
| Additional living expenses | Not covered | Varies. Required in Florida’s “preferred” type |
| Waiting period | Generally 30 days, with exceptions (for example, at a mortgage closing) | Set by each company |
| Renewal | Federal program | A private company may choose not to renew |
Florida’s private flood policy types
Florida law (§627.715) lets companies offer several kinds of private flood coverage: – Standard: the same coverage as the NFIP policy. – Preferred: NFIP-level coverage plus some outside water intrusion, additional living expenses, and replacement cost on contents. – Customized: broader than the NFIP. – Flexible: may limit coverage, for example to the mortgage balance or actual cash value. – Supplemental: adds to an NFIP or other flood policy.
If you need flood for Citizens, the law accepts NFIP coverage or the standard, preferred or customized types. See the Citizens flood requirement.
Continuous coverage: a key trade-off
If you have an NFIP policy with a discounted rate and let it lapse, including by switching to private flood, you may lose that discount and pay full-risk rates if you come back. Florida law requires your agent to give you a written notice to sign before moving you from the NFIP to a private flood policy.
Lenders
Federal rules let lenders accept qualifying private flood policies for required flood coverage. Check with your lender.
Talk with us
We can compare NFIP and private options with you. Call (352) 371-7977 or contact us.
Sources
- FEMA FloodSmart agents, coverage: https://agents.floodsmart.gov/topics/selling-flood-insurance/coverage
- FEMA FloodSmart, policy terms: https://www.floodsmart.gov/policy-terms
- FEMA FloodSmart, buy a policy: https://www.floodsmart.gov/get-insured/buy-a-policy
- Fla. Stat. §627.715 (2026): https://www.flsenate.gov/Laws/Statutes/2026/627.715
- Fla. Stat. §627.351(6)(aa) (2026): https://www.flsenate.gov/Laws/Statutes/2026/627.351
- NAIC, flood and continuous coverage: https://content.naic.org/sites/default/files/committee_related_documents/Flood%2520Document%2520-%2520v2019-11-18.pdf
General information, not legal or coverage advice. Coverage depends on the policy issued, its terms and underwriting. Requirements current as of October 2026; confirm with your agent, insurer or Citizens. McGriff-Williams Insurance is an independent insurance agency licensed in Florida. We are not affiliated with FEMA, the NFIP or Citizens Property Insurance Corporation.
