Hundreds of thousands of homes across the Southeastern United States are now falling within newly designated flood zones, necessitating the purchase of flood insurance by many property owners starting July 31. The revisions to federal flood maps by the Federal Emergency Management Agency (FEMA) are expected to affect approximately 138,800 additional structures in Miami-Dade, Palm Beach, and Broward counties alone, marking a significant expansion of high-risk flood areas compared to previous assessments.
According to FEMA data, Miami-Dade County will see approximately 252,015 structures classified as being in the special hazard area, representing an increase of 45,420 structures from previous maps. In Palm Beach County, the number of properties in the flood zone rises to 34,154, an increase of 5,800. Broward County, home to Fort Lauderdale, will experience nearly 89,000 parcels moving from low-risk to higher-risk flood zones, as reported by the South Florida Sun Sentinel.
Trevor Burgess, president and CEO of Neptune Flood, a major private flood insurance provider based in St. Petersburg, Florida, noted that these revisions reflect significant changes in water levels, population growth, and landscape alterations over the past two decades. Neptune Flood, which currently underwrites over 191,000 policies, anticipates a rise in policy numbers following FEMA’s updated flood maps.
The timing of FEMA’s map revisions coincides with recent heavy rainfall and subsequent flooding in parts of Miami-Dade and Broward counties, resulting in anticipated insurance claims expected to reach hundreds of millions of dollars, according to Aon, a global professional services firm.
Despite the federal updates, Burgess highlighted the critical role of local communities in enforcing flood mitigation regulations to prevent future flood damage. He pointed to instances like Lee County, Florida, where FEMA recently revoked community-wide flood insurance discounts due to inadequate flood prevention measures during rebuilding efforts post-Hurricane Ian in 2022.
Nationwide, the changes underscore broader trends in flood insurance coverage. In Texas, National Flood Insurance Program (NFIP) policies have decreased by 6% over the past year, while Louisiana has experienced a similar decline despite having a substantial number of flood policies.
As these adjustments take effect, stakeholders across the Southeast are grappling with the implications of increased flood risks and the associated financial burdens on property owners and insurers alike.
