Understanding flood insurance
FIRM advocates for Monroe County residents, businesses and homeowners. We have fought successfully since 2006 against excessive, discriminatory and unaffordable property insurance rates.
flood resources
Quick links to Key West, Monroe County and Federal Resources
Monroe County, Key West and the Federal Emergency Management Administration maintain detailed and updated information on flood insurance requirements for homeowners, businesses and landlords and access to interactive maps and applications for flood mitigation grants.
City of Key West
The city offers an interactive map with property values and floodplain documents and a substantial improvement and damage tracking module.
Monroe County
The county’s floodplain management program includes information on ordinances and regulations, new maps and the popular flood mitigation grants.
FEMA/NFIP
The National Flood Insurance Program (NFIP) is managed by the FEMA and is delivered to the public by a network of more than 50 insurance companies.
New Florida flood insurance requirements
Citizens' Property Insurance Corp.
adds flood policy mandate
Effective Jan. 1, 2024, Citizens requires flood insurance coverage for new and renewal policies with wind coverage that insure dwellings with a replacement cost of $600,000 or more. By 2027, all structures regardless of value will be required to have flood insurance.
Learn more about the mandate
The law mandates all policies with wind coverage must maintain flood coverage as outlined below.
- Effective January 1, 2025 - Structures that have a dwelling replacement cost of $500,000 or more
- Effective January 1, 2026 - Structures that have a dwelling replacement cost of $400,000 or more
- Effective January 1, 2027 - All structures (including tenant) regardless of value
Risk Rating 2.0 versus Flood zones
Risk Rating 2.0 — not your flood zone — determines your flood insurance premium. For almost six decades most Florida Keys homeowners have known what flood zone they’re in and they often used an X-zone designation as a selling tool.
But, since 2022, flood zones don’t matter as much. That’s because the National Flood Insurance Program’s Risk Rating 2.0 bases flood insurance premiums on the individual building, not the flood zone.
Criteria include distance from water; type of construction; previous flooding and flood type; replacement cost and height of first floor from base flood elevation.
Risk Rating 2.0 is the biggest pricing structure change since FEMA’s NFIP was established in 1968. Fair Insurance Rates for Monroe (FIRM) estimates that more than 90 percent of Monroe County homeowners will experience flood insurance rate increases under Risk Rating 2.0.
Learn about home elevation and grants
FIRM partnered with the City of Key West, Monroe County, and Monroe County Extension Services to educate homeowners on the steps to elevate their homes out of the floodplain. The project explored all aspects of home elevation including cost, return on investment, methods, barriers, permitting, duration and financing.
Are you interested in obtaining grant funds to elevate, demolish/reconstruct, or sell your home that is below base flood elevation, at risk of flooding, or has flooded before resulting in a National Flood Insurance Program (NFIP) flood insurance claim?
Elevate Florida is a first-of-its-kind, groundbreaking statewide residential mitigation program. Led by the Florida Division of Emergency Management (FDEM), this program is designed to protect homes and communities by reducing damage caused by natural disasters like hurricanes and floods. Elevate Florida works like FEMA’s FMA grant applications previously administered by Monroe County.
Make at least a $100 donation to FIRM KEYS and receive a discount on your residential flood elevation certificate survey. Make at least a $500 donation to FIRM KEYS and receive a discount on your commercial elevation certificate survey.
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Frequently asked questions about flood insurance
What Property Insurance do I need in Florida?
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FEMA FLOOD MAP UPDATE
In January 2020, FEMA held Community meetings throughout the Keys, offering the public an opportunity to view and comment in person on the proposed...
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How does the Claims Process Work?
The first step in the claims process is to contact your insurance agent. If that is not feasible then you should contact your carrier directly. It...
What is the “My Safe Florida Home” Program
The My Safe Florida Home Program was re-enacted in 2022. The program was created to strengthen Florida homes against hurricanes and save homeowners...
How are Rates determined for flood insurance?
The National Flood Insurance Program (NFIP) sets flood premiums based on a rating methodology called Risk Rating 2.0 “Equity in Action” (RR2.0)....
Where do i purchase wind or flood insurance?
Windstorm insurance can be purchased through your local insurance agent who represents multiple companies or through a captive insurance agent who...
RISK RATING 2.0
The Coalition for Sustainable Flood Insurance aggregates significant information on national flood insurance with particular attention to the impact of Risk Rating 2.0 on policy premiums.
National policy quote database
The Coalition for Sustainable Flood Insurance
Since April 2013, GNO, Inc. has led the Coalition for Sustainable Flood Insurance (CSFI), a national coalition of approximately 250 organizations across 35 states, formed during the implementation of the Biggert-Waters Act. CSFI was a driving force behind the passage of the Homeowner Flood Insurance Affordability Act (HFIAA), compromise legislation that was cosponsored by more than 235 Members of the House and supported by 306 Members, representing the overwhelming support of both caucuses, and passed the Senate with the support of 72 Senators.
There are four primary policy areas CSFI has focused on that will provide for this stronger framework – mitigation, mapping, affordability, and program participation. CSFI is currently assembled around the implementation of Risk Rating 2.0 and enactment of a long-term NFIP reauthorization.
CSFI is an initiative of Greater New Orleans, Inc. For more information, please contact Peter Waggonner, GNO, Inc.’s Public Policy Manager, at pwaggonner@gnoinc.org or (504) 527-6980.