Flooding can be one of the most common and expensive natural disasters in Florida—and Fort Myers homeowners are especially vulnerable. After Hurricane Ian, flood maps were redrawn, insurance premiums shifted dramatically, and many residents found themselves either underinsured or paying much more than expected. Because there is typically a waiting period before flood insurance becomes effective, it’s essential to plan and secure coverage before a flood event occurs.
As we move through 2025, it’s critical to understand how flood insurance works under FEMA’s new Risk Rating 2.0 model, why flood coverage matters even outside high-risk zones, and how to choose the right policy for your home. Most homeowners insurance policies don’t cover flood damage, so you’ll typically need to get a separate flood insurance policy. The federal government’s National Flood Insurance Program (NFIP) provides flood insurance to homeowners. While coverage is essential everywhere, it is particularly necessary in high-risk flood areas, where the likelihood of flooding is significantly higher.
Why Flood Insurance Is Separate from Homeowners Insurance
A common misconception in Florida is that homeowners insurance covers flood damage. Surprise! It doesn’t. Only flood insurance provides comprehensive coverage for flood-related losses. Even if your home is destroyed by storm surge or rising water during a hurricane, your homeowner’s policy won’t pay for those losses unless you have a separate flood insurance policy active.
Flood insurance is available through the National Flood Insurance Program (NFIP) or private insurers, and coverage can include:
- Structural damage to the home
- Damage to electrical, plumbing, and HVAC systems
- Flooring, walls, and appliances
- Personal property (optional contents coverage)
To understand what your insurance policies cover, talk to your insurance agent.
If you want to buy flood insurance, one of our insurance agents at Lott & Gaylor can help you purchase the right policy and explain the available insurance policies along with timelines. Keep in mind, it’s important to buy flood insurance before a flood event occurs, as there is typically a waiting period before coverage begins.
If your home is in a designated flood zone—and especially if you carry a mortgage—flood insurance may be required by your lender. But many Fort Myers homeowners are surprised to learn they’re now in a higher-risk area due to FEMA’s updated flood maps.
FEMA Flood Zone Changes in Fort Myers
FEMA enacted significant flood zone changes in Fort Myers in late 2022, when updated flood maps for Lee County reclassified thousands of homes into higher-risk categories, including AE and VE zones. As FEMA’s flood map dictates flood risk assessment and high-risk area identification, these revisions carry considerable implications for insurance requirements and rates.
- Lenders began requiring flood insurance for more properties, especially those located in high risk areas.
- Premiums increased for many homeowners.
- Some owners discovered their coverage was inadequate.
Even properties that had never flooded before are now considered at risk, particularly those near the Caloosahatchee River, tidal areas, or low-elevation inland zones.
Is your home affected? Not sure? Ask your local insurance agency, Lott & Gaylor, so they can review your flood map and help you understand your flood risk, which is essential for determining your insurance needs and coverage requirements.
What Is Risk Rating 2.0?
FEMA’s Risk Rating 2.0 is a new flood insurance pricing methodology that became fully effective in 2023. Instead of the previous model, which relied mainly on zone-based maps, Risk Rating 2.0 employs property-specific information to set your premium. Your flood insurance premium is based on your property’s flood risk, your desired amount of coverage, and other considerations such as your deductible and coverage options. Knowing how much cover you need is key to choosing the right policy and keeping your premium under control.
Key Factors in Risk Rating 2.0:
- Distance to water sources (canals, rivers, coastline)
- Ground elevation and first-floor height
- Foundation type (e.g., slab, crawlspace, raised)
- Building materials and construction date
- Cost to rebuild the home
This means two homes on the same street—previously rated the same—could now have drastically different premiums based on elevation and building specs.
While this shift makes pricing more equitable, it also creates uncertainty for many homeowners. In some cases, premiums decreased. In others, they jumped significantly—especially for older homes without elevation certificates.
What Fort Myers Homeowners Should Do in 2025
1. Find Out If You Need Flood Insurance
Even if your mortgage lender does not require it, flood insurance is still highly recommended:
- As the most common natural disaster in the United States, flooding can be devastating; just one inch of water can cause up to tens of thousands of dollars in damages.
- 1 in 3 claims occur outside high-risk zones
- The average FEMA claim payout is around $40,000
No matter where they live, nearly all homeowners are vulnerable to flood danger. Since standard homeowners or renters insurance usually does not cover flood damage, it’s important to evaluate your flood risk and consider specialized flood insurance coverage.
2. Evaluate Your Options: NFIP vs. Private Flood Insurance
NFIP policies cap $250,000 for building coverage and $100,000 for contents. Flood insurance is typically a separate policy from homeowners insurance, and a flood policy can be obtained through the National Flood Insurance Program’s authorized providers or private insurers. If your home is valued higher, private flood insurance may offer:
- Higher coverage limits (you may pay an additional premium for increased limits or extra personal property protection)
- Additional living expense coverage
- Shorter waiting periods
- Potentially lower premiums depending on risk profile
Note: Coverage for ground-level enclosures, such as basements or crawlspaces, may be limited and should be carefully reviewed when selecting a policy.
3. Understand the Waiting Period
To avoid coverage gaps, remember that NFIP flood insurance policies have a 30-day waiting period before they take effect. It’s crucial to purchase your policy well in advance of any storm predictions. Private insurers may offer coverage that starts in as little as 7 days. Don’t wait until a storm is forecast—get coverage in place now. If you experience flood damage, your insurance agent can help you file flood insurance claims and guide you through the process.
How Lott & Gaylor Helps Fort Myers Residents
As a trusted local agency serving Southwest Florida for over 40 years, we guide clients through every aspect of flood insurance, including:
- Zone analysis based on current FEMA maps
- Explanation of Risk Rating 2.0 changes
- Elevation certificate reviews
- Comparison of NFIP vs. private flood insurance options
- Multi-policy bundling to help save on premiums
- Shopping around with different insurance providers helps you find the best coverage for your needs.
If your community doesn’t participate in the National Flood Insurance Program (NFIP), you won’t be able to get flood insurance through them.
We help clients understand the details of their insurance policies, including what is covered and how to protect against flood loss. Our team also emphasizes the importance of having your insurance provider’s information readily available to streamline the claims process in the event of a disaster.
We understand the unique flood risks in Fort Myers—from McGregor Boulevard to the coastal inlets of Cape Coral—and we tailor policies to match your home’s exact needs.
Protect Your Property with the Right Flood Coverage
Floods can happen fast. Coverage can’t.
Whether your home is on the river, near a canal, or simply in a low-lying area, having the right flood insurance policy in place could save you from financial devastation. Flood insurance coverage is essential to cover flood damage from costly natural disasters, which are among the most expensive and common disasters in the U.S. Standard homeowners insurance does not cover flood damage, so a separate policy is required to ensure complete protection against flood losses. Please don’t leave it up to chance or outdated maps.
Contact Lott & Gaylor today for a custom flood insurance review—and gain peace of mind before the next storm hits.
Fort Myers Flood Insurance FAQ’S
1. Does homeowners insurance cover flood damage in Florida?
No, standard homeowners insurance in Florida does not cover flood damage, including losses caused by storm surge or rising water. To protect your home from flood-related disasters, you need a separate flood insurance policy, which is available through the National Flood Insurance Program (NFIP) or private insurance providers. Many homeowners are surprised to learn this after major storms, so it’s best to secure coverage before hurricane season.
2. What is FEMA’s Risk Rating 2.0 and how does it affect my flood insurance rate?
Risk Rating 2.0 is FEMA’s updated flood insurance pricing model. It calculates your premium based on property-specific risk factors like elevation, distance to water, and rebuild cost. Unlike the old system based only on flood zones, Risk Rating 2.0 means neighboring homes may now have very different premiums. This change makes pricing more accurate—but also more complex.
3. Did my flood zone change after Hurricane Ian in Fort Myers?
Yes, after Hurricane Ian, FEMA updated flood maps for Lee County in late 2022. Thousands of properties in Fort Myers were reclassified into higher-risk flood zones, such as AE and VE. As a result, many homeowners now face mandatory flood insurance requirements from lenders—even in areas that had never flooded before. Check with a local agent to see if your property was affected.
4. How long does it take for flood insurance to become active?
NFIP flood insurance policies have a 30-day waiting period before coverage begins. This means you need to purchase your policy well in advance of any potential storm or flood event. Some private flood insurance providers offer faster activation, sometimes as little as 7 days, depending on underwriting rules. Don’t wait until a storm is forecast—get coverage in place early.
5. Should I choose private flood insurance or NFIP coverage?
Both options have pros and cons. NFIP policies cap at $250,000 for building and $100,000 for contents. In contrast, private flood insurance may offer higher limits, shorter waiting periods, and additional living expenses coverage. It can also be more competitively priced depending on your risk profile. A local agency like Lott & Gaylor can compare both and help you choose the right flood policy.
