Broward County changed the areas for flood insurance requirements on August 18, 2014. South Florida has plenty of sunshine and plenty of rain. After endless years of paying and having flood insurance, we are now informed, this is no longer necessary. Flood insurance costs about $400.00 or $500.00 per year per property. That money goes a long way in home protection due to rising water. Coverage covers up to $250,000.00 for structure and $100,000 to replace contents. Lenders on home mortgages are now sending letters out letting their customers know flood insurance is no long necessary. If you have escrowed you mortgage together with taxes and insurance, your lender may no longer be placing this into your mortgage and you may want to set up a seperate yearly transaction for this.

I remember about there was an area in Miami that did not require flood insurance. We had a multitude of storms pass and these homeowners lost their homes due to flood waters. No one had flood insurance as it was not required. It was an extremely sad situation. You can check out the latest information in regards to flood maps.