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. Since October 20, 2026, FEMA also lets you get a quote and buy an NFIP policy online at FloodSmart.gov in participating NFIP communities. 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 | Maximums range from about $1 million to $5 million or more, depending on the company, the flood zone and the home |
| Contents limit | Up to $100,000 | Maximums are often $250,000 to $500,000, and some go higher. Some companies set contents as a share of the building limit (for example, up to 50% or 70%) |
| Contents paid at | Actual cash value (depreciated) | Many pay actual cash value unless you add replacement cost. Some include replacement cost. Florida’s “preferred” flood type, from Florida-admitted companies, must pay replacement cost for contents that are repaired or replaced |
| Additional living expenses | Not covered | Often available, sometimes as an add-on. Limits range from a set amount (about $5,000 to $50,000) to a share of the building limit (about 5% to 20%). Some pay only part of each expense (for example, 75%) or don’t pay for the first few days. Required in Florida’s “preferred” type from Florida-admitted companies |
| Detached structures | A detached garage is covered up to 10% of the building limit, and that amount reduces the building limit. Other detached buildings need their own policy | Often about 10% of the building limit, sometimes with a dollar cap (for example, $100,000). Some companies add it on top of the building limit, and others take it out of the building limit or offer a separate limit |
| Basements | Limited to a list of items, such as furnaces, water heaters, a washer and dryer, and a freezer and the food in it. Most other belongings and finishes in a basement are not covered | Some offer limited basement contents coverage (for example, $10,000 to $15,000). Others don’t cover basements |
| Waiting period | Generally 30 days, with exceptions (for example, at a mortgage closing) | Commonly 7 to 15 days, depending on the company. Often waived at a home closing, and some companies also waive it when you switch from another flood policy |
| Who can buy | Buildings in communities that take part in the NFIP. Some buildings can’t be covered, such as newer buildings over water and some buildings in federally protected coastal barrier areas | Each company sets its own rules. Common limits include prior flood losses, mobile or manufactured homes and buildings over water. Some companies also exclude unrepaired flood damage, homes in a FEMA floodway or some coastal locations |
| Renewal | Federal program | A private company may choose not to renew |
| Paying the renewal late | 30-day grace period. Claims are honored if you renew and pay in full within it | Depends on the company. Some require payment before the expiration date and leave no coverage for the gap if you pay late, so check the policy’s renewal terms |
| Selling the home | An NFIP policy with building coverage can be assigned to the buyer | Depends on the company. A private policy may let a buyer take it over (assume it), so check the policy |
| Surplus lines | Not applicable | Many of the private flood policies our agency can quote are Florida surplus lines policies. These add a state surplus lines tax to the premium and may add fees, are not protected under the Florida Insurance Guaranty Act if the company becomes insolvent, and use rates and forms not approved by any Florida regulatory agency. A surplus lines policy must say so on its first page |
| Apartment buildings (5+ units) | Up to $500,000 building per building and $100,000 contents; no loss-of-rents coverage | Set by each company. Some offer higher limits and rental income (check the policy) |
Private flood column: general ranges from the private flood policies our agency can quote as of October 2026, not every private flood policy sold in Florida. They depend on the company, the property and its location, and they change. Not every company offers every option. Check the actual policy and quote.
Florida’s private flood policy types
Florida law (§627.715) lets Florida-admitted 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
- FEMA press release HQ-26-170, “FEMA Launches New Option to Buy National Flood Insurance Program Policy Online” (Oct. 20, 2026): https://www.fema.gov/press-release/20261020/fema-launches-new-option-buy-national-flood-insurance-program-policy-online
- FEMA, Standard Flood Insurance Policy, Dwelling Form (44 CFR Part 61, Appendix A(1)): https://www.ecfr.gov/current/title-44/chapter-I/subchapter-B/part-61/appendix-Appendix%20A(1)%20to%20Part%2061
- Fla. Stat. §626.916 (2026): https://www.flsenate.gov/Laws/Statutes/2026/626.916
- Fla. Stat. §626.932 (2026): https://www.flsenate.gov/Laws/Statutes/2026/626.932
- Fla. Stat. §626.924 (2026): https://www.flsenate.gov/Laws/Statutes/2026/626.924
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.
