Flood Insurance in Holmes County

Flood Insurance in Holmes County, Florida

Holmes County is in northwestern Florida in the Panhandle. This region is home to clear springs, deep forests, and miles of rivers – a destination away from tourist traffic and the bustle of city life. But its proximity to these natural wonders also makes the area susceptible to flooding.

Holmes County residents don’t have to look too far back to see how devastating flooding can be. In September 2020, a hurricane displaced many folks in Holmes County and the region opened a shelter to support those whose homes were uninhabitable.

It’s a reminder of how important flood insurance is. Homeowners insurance doesn’t cover water damage from storm surges or external sources, so flood coverage is the only way to protect your home from this risk.

Let’s take a look at how much flood insurance costs and when you’re required to have flood coverage in Holmes County.

Holmes County Flood Insurance costs

Our average flood insurance costs $204 a year in Holmes County. That’s $323 less than the National Flood Insurance Program’s average for the region: $527 a year.

Turns out, you can stand to save a lot of money by choosing a private insurance company like Kin for your flood coverage. A recent study shows that 77 percent of homes can get lower Florida flood insurance rates if they work with private providers instead of the NFIP.

Kin vs. NFIP average flood insurance premiums

Your home’s safety features and flood zone will ultimately determine what your flood coverage costs will be. To see what your rate will be, give us a call to get a quote.

Flood Zones in Holmes County, Florida

Close to three million single-family Florida homes are at risk of flood damage from category-five storms. Additionally, nearly 20 percent of Florida counties have experienced 50 or more flood events in the past 24 years.

Holmes County is no exception. According to FEMA’s flood maps, there are two high-risk flood zones here: A and AE. Both have a 1 percent chance of annual flooding and a 26 percent chance of flooding over a thirty-year mortgage period.

These flood zones exist throughout Holmes County, but some areas have a higher concentration. For example, Westville has high flood risks thanks to its proximity to the Choctawhatchee River. According to Flood Factor, 19 percent of Westville’s properties are at risk for flooding. That number is expected to rise by 4.7 percent over the next 30 years.

If you’re a Florida homeowner with a federally backed mortgage and live in an A or V flood zone – you’re required to have flood insurance.

What Holmes County Flood Insurance covers

What flood insurance covers depends on where you buy your policy. For example, our flood insurance covers your home, other structures, and your belongings from external water damage. The NFIP’s coverage only covers your home and your belongings.

The amount of coverage varies, too. Because you add on our flood coverage to your homeowners' policy, we match your flood limits to your underlying policy limits. So if your home is insured for $300,000, you’ll have $300,000 in flood coverage for your dwelling, too. The NFIP’s limits max out at $250,000 for the home and $100,000 for belongings.

How to prepare for a flood in Holmes County

While flood insurance helps you get back on your feet after a flood, there are steps you can take before a flood arrives to minimize your losses. The best place to start is by understanding your flood risk. Look up your home’s flood zone so you know the likelihood of a flood happening where you live.

Here are some resources that can help:

• Look up your address on Flood Factor to see your past, current, and future flood risks.
• Take steps to lower your home’s risk of flooding.
• Check out our tips for creating a disaster preparedness plan.
• Explore the Holmes County’s FEMA Flood Zone Map.
• Understand what each flood zone means.