The Real Deal Miami

Flood insurance costs a rising tide

December 02, 2009 06:44PM

A redrawing of South Florida’s flood zones will boost insurance costs for homeowners who live in higher-risk zones. The Federal Emergency Management Agency revised the region and divided it into different flood-risk zones, from A (high risk) to X (low risk). The letter designation will be used to determine whether property owners must get flood insurance, and also be factored into the costs of premiums. The most expensive policies can cost as much as $2,000. [Miami Herald]