Florida Homeowners Insurance Calculator: Wind and Flood
Budget Florida home insurance cost from your own rate or quote: yearly and monthly, coverage, hurricane deductible, Citizens and flood covered.
What This Calculator Does
Give it the home's size and rebuild cost, or a quote you already hold, and you get the premium for escrow, yearly and monthly. Next to it sit the coverage of a standard policy and the hurricane deductible written out as an amount. Florida and Citizens rules apply where they're relevant. The rate is always yours to enter; the calculator never guesses what an insurer would charge.
Who Is This For
Useful when you're planning the budget for a South Florida purchase, deciding on a renewal, or drafting an offer for a client. Condo purchasers and investors holding a rental home can run their numbers here too.
How It Works
Whether you hold a quote decides what you type. Without one, enter the square footage, the rebuild cost per square foot and an insurance agent's rate per $1,000. With one, enter its dwelling coverage and premium. Policy type and county go in first either way; credit, deductibles and flood follow, then Calculate.
Frequently Asked Questions
How do hurricane deductibles work for a Florida policy?
Insurers must let you pick from $500, 2%, 5% and 10% of your dwelling coverage (F.S. 627.701). Once coverage reaches $250,000, the insurer can drop the $500 option. You pay the deductible once per calendar year, however many storms hit. Most conventional lenders won't accept one above 5%.
Does home insurance cover flooding?
No. Home insurance leaves flood out, so you need a separate flood policy, from the National Flood Insurance Program (NFIP) or a private carrier. If your property sits in a FEMA zone starting with A or V, your lender will insist on it. Typically, NFIP coverage begins 30 days after purchase, and buying it with a mortgage is the exception. The NFIP caps building coverage at $250,000.
Who qualifies for Citizens, and who has to carry flood insurance?
Citizens will insure a home whose dwelling coverage is below $700,000 ($1,000,000 in Miami-Dade and Monroe), but only when no private company offers comparable coverage for no more than 20% above the Citizens premium. If your Citizens policy includes wind, it also requires flood insurance: in FEMA flood zones that is already the rule, and outside them it is phasing in by dwelling value until it reaches every such policy. Condo-unit policies are exempt.
What is a wind mitigation inspection good for?
Discounts. Insurers are obliged to apply them to the windstorm portion of your premium (F.S. 627.0629), and this inspection documents what earns them. The inspector logs roof geometry, roof attachment method, a sealed deck as secondary water barrier and opening protection on form OIR-B1-1802, good for 5 years.