End-of-2024 Reflection: Florida Insurance and Resiliency
As 2024 draws to a close, I’ve been reflecting on the challenges and lessons learned from last year’s back-to-back hurricanes—Helene and Milton—which pummeled Tampa Bay between September 26 and October 10. While it’s been many months since those storms, their impact still resonates, and I believe our community can benefit from revisiting the hard-earned insights on Florida insurance, building codes, and overall preparedness.
Hurricane Helene: Unprecedented Flooding
Helene delivered historic flood levels across Tampa Bay. In neighborhoods with older homes built before 1975—where flood elevations weren’t part of original construction requirements—many families endured three to four feet of floodwater inside. The resulting damage was heartbreaking. The standard National Flood Insurance Program (NFIP) limit of $250,000 simply isn’t enough in today’s market, and it provides no coverage for additional living expenses. For these families, the financial and emotional toll has been immense.
In contrast, homes built post-1975 (and elevated to meet flood code) weathered the event far better. Most experienced only minor flooding in garages or damage to pools, landscaping, and lower-level storage. While flood policies don’t cover those items, these homeowners were able to move back in almost immediately.
Hurricane Milton: Testing the Florida Building Code
Where Helene brought record-setting floods, Milton unleashed powerful winds and surprising freshwater flooding—even in areas deemed “safe” or outside traditional flood zones. This was a true test of Florida’s building codes. Structures updated with newer roofs (post-2002), hurricane impact glass or shutters, and modern roof-to-wall connections (hurricane clips) fared remarkably well. With minimal visible damage, many homeowners were back to normal living within hours.
For older, non-code-compliant homes, however, the story was different: torn-off roofs, severe structural damage, and longer displacement times. While homeowners insurance did cover more than flood alone—like loss-of-use—being forced out of one’s home is still a traumatic experience.
Key Takeaways for a Resilient Florida
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Flood Elevation Works
- Enforcing elevation requirements and the 50% rule (which prevents significantly damaged older homes from being repaired to subpar standards) should remain a priority. Manipulating appraisals to skirt these rules doesn’t help in the long run. Raising homes to meet or exceed code is essential for our future resilience.
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Florida Building Code Works
- Updated construction practices, resilient roofing, impact glass, and secure roof-to-wall connections truly minimize damage. The “My Safe Florida Home” program is a great start, but it should expand so more homeowners can afford critical upgrades.
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Flood Insurance for All
- After Milton, it’s clear that even homes in so-called “safe” zones can flood. Yet, many banks don’t allow preferred-zone flood insurance to be escrowed with mortgage payments. That should change to encourage year-round coverage and help homeowners budget more effectively.
Looking Ahead
We’ve all struggled in the wake of these storms, but these hardships underscore the need for stronger building codes, improved elevation standards, and broader insurance participation. Programs that support homeowners in updating their roofs, adding hurricane clips, and installing impact glass—without excessive red tape—are crucial to creating a more resilient Florida.
As we turn the page on 2024, let’s continue to push for a #FloridaStrong that protects everyone in our community. Our shared experiences remind us that storms will come, but with the right policies and proactive measures, we can weather them—and rebuild—together. Stay safe, stay prepared, and let’s keep working toward a stronger, more resilient Tampa Bay for years to come.
**This blog provides a brief overview of the terms and phrases used within the insurance industry. These definitions are not applicable in all states or for all insurance and financial products. This is not an insurance contract. Other terms, conditions and exclusions apply. Please read your official policy for full details about coverage. These definitions do not alter or modify the terms of any insurance contract.