Buyer question
Do I need flood insurance to buy a home in Miami-Dade?
Short answer
If you finance the purchase and the home is in a high-risk flood zone on FEMA’s maps, your lender will require flood insurance. Homeowners insurance does not cover flood damage, so many buyers outside those zones buy it too.
How to check a home
Look up the address on FEMA’s Flood Map Service Center to see its flood zone. Ask the seller whether they have an elevation certificate and what they pay for flood insurance now.
What to budget for
Flood insurance is a separate policy, from the National Flood Insurance Program or a private insurer. Get a quote during your inspection period, since the cost depends on the specific home.