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Florida Bill Could See Higher Flood Insurance Costs This Year

Florida Bill Could See Higher Flood Insurance Costs This Year

Miami Herald27-05-2025

A bill trying to "bolster hurricane relief and recovery" in Florida could end up increasing the cost of flood insurance for thousands of homeowners in the state, experts warned, adding more weight to their growing financial burden.
Senate Bill 180, which has already passed both the Florida House and Senate with nearly unanimous support, is now heading to Governor Ron DeSantis' desk. The bill aims to help homeowners in the Sunshine State rebuild more quickly after natural disasters, which are becoming more frequent and destructive due to climate change.
However, in its attempt to expedite these efforts, critics argue that the legislation may hinder residents from implementing key changes that would enhance their homes' resilience to extreme weather events.
Florida homeowners have seen the cost of home insurance skyrocket in recent years due to a combination of more frequent and severe natural disasters, widespread fraud, and excessive litigation.
Although the market has stabilized over the past year, homeowners in the state continue to pay some of the highest premiums in the country. At $2,625 per year, the average cost of home insurance in the state is 24 percent higher than the national average of $2,110, according to NerdWallet.
Flood insurance, which is not required by law, is an additional cost on top of the standard property insurance policy for homeowners in the state. According to NerdWallet, the average annual cost of flood insurance in the state is $865 for a National Flood Insurance Program (NFIP) policy.
Changes introduced by SB 180 could increase the cost of flood insurance even further for Florida homeowners, potentially discouraging some from obtaining coverage for their homes at all-a risky proposition in such a disaster-prone state.
SB 180 has been celebrated by sponsor Nick DiCeglie, a Republican state senator representing Indian Rocks Beach, as legislation that would offer Florida homeowners "a clear path to recovery" after being hit by a storm.
"We're fighting for families to focus on rebuilding without additional delays or burdens, especially for those who sustained damage or lost their homes," the senator said in a press release.
"Working with our state and local emergency responders, we can streamline restoration efforts and improve emergency response coordination, fortifying and strengthening our communities before the next storm."
Newsweek reached out to DiCeglie via email for comment on Monday.
The bill's efforts to streamline rebuilding after a hurricane, however, include a two-year freeze on the adoption of stricter building codes that could strengthen Florida homes, a measure that critics say would prevent local governments from introducing important reforms.
It would also make it easier for homeowners whose properties have been destroyed or damaged in a natural disaster to avoid elevating their homes once they rebuild-an improvement that experts consider crucial to strengthen residences against more frequent and more severe extreme weather events.
Under the proposed legislation, only homes that have suffered storm damage equal to more than 50 percent of their value must be demolished and rebuilt entirely-the minimum requirement set by the Federal Emergency Management Agency (FEMA).
Strengthening a home exposed to potentially devastating natural disasters not only makes this property more resilient, protecting the owner and their assets, but it also makes coverage more affordable. Insurers often offer discounts to policyholders who make efforts to strengthen their homes against extreme weather events under programs such as FEMA's Flood Mitigation Assistance Grant and the Sunshine State's Elevate Florida.
This state-run program, launched last year, offers to cover at least 75 percent of the cost of mitigation projects, including elevating a home damaged in a storm, which promises to lower insurance costs and increase the property's value.
A study conducted by the state and cited by several local newspapers found that 44 out of the 122 communities that currently elevate their homes after an impactful natural disaster would lose points toward discounts on flood insurance premiums due to SB 180.
Twelve would no longer qualify for the level of discount they currently benefit from: Bay County, Leon County, Orange County, Dania Beach, Jupiter Beach, Palm Springs, Estero, Lake Mary, Hialeah, Bonita Springs, Hollywood and the Pensacola Beach Santa Rosa Island Authority.
According to the study's estimates, approximately 44,000 Florida homeowners would end up paying more for flood insurance coverage as a result of the bill taking effect, resulting in a total annual increase of $1.6 million statewide, or $36 per person.
Florida state Senator Nick DiCeglie, who sponsored the bill, in a statement: "If we can keep one more person in their home to keep them out of the 50 percent rule, that's one person that does not have to deal with the incredibly stressful situation of tearing down their home and elevating."
Del Schwalls, a floodplain management consultant, told the Tampa Bay Times: "It's really frustrating. It prevents anyone from trying to fix this flood, repair, flood, repair cycle."
Kimberleigh Dinkins, policy and planning director of advocacy group 1000 Friends of Florida, in a statement: "A lot of times, a local government can evaluate the impact that a storm has on their community, and make adjustments to their land development code to make themselves more resilient. Under this scenario, they wouldn't be able to do that."
She added: "It's removing one of the tools in the toolbox to increase resiliency. It basically is saying: okay, you have more opportunities to build back in a way that's resulting in flooding."
The bill is now awaiting the governor's signature, but DeSantis has not yet indicated whether he will sign the legislation. If signed, the bill's provisions could take effect during the upcoming hurricane season, potentially affecting insurance premiums and building standards statewide amid ongoing market volatility.
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