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South Florida's Flood Maps Are Being Updated. Will You Get Hit With Paying For Insurance?

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For hundreds of thousands of people who live in South Florida, flood insurance is a fact of life – whether they have ever been flooded or not. It's probably required if you live in a flood zone and have a mortgage.

For the first time in years, South Florida will be getting new flood risk maps, which will redraw the lines for what property is in at-risk areas. That means residents not previously in a flood zone can end up in one now – even if they weren't before.

Florida is home to more flood insurance policies than any other state by a factor of three. Almost two million properties in the state carry flood insurance. One of every eight flood insurance policies in the nation covers a property in South Florida.

The new maps won't be in effect for another 18 to 24 months, senior engineer and project manager for FEMA’s coastal studies Mark Vieira told WLRN.  

Residents on the coast have flood insurance policies that are cheaper than they should be because the National Flood Insurance Program uses outdated risk modeling. The average premium in Florida provided by the NFIP is roughly $700 a year. For that, homeowners get $250,000 of coverage for their homes. The cost of insurance is likely to increase in the future.

WLRN would like to know: How are your housing costs affected by flood insurance? Fill out our form below and a producer or reporter may be in touch.

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