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Study: Floridians in Flood Zones Underpaying for Flood Insurance by Average of 379%

March 15, 2021

If you live in Florida, you should probably be paying more for flood insurance. And you likely will be soon.

That first finding is the conclusion of a new analysis by First Street Foundation, a nonprofit research group focused on climate impacts on property value, which found that the majority of Floridians face a higher flood risk than their insurance costs would indicate.

The second prediction comes because the National Flood Insurance Program is rolling out a new way of pricing flood insurance later this year. Experts expect it will lead to higher rates for homeowners in flood-prone places like Florida. Potentially, a lot higher in some places.

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