Four South Florida Disaster Counties Have Nearly $108 Billion in Flood Insurance Coverage
Release Date: October 8, 2000
Release Number: 1345-03
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Miami, FL -- Miami-Dade, Broward, Collier and Monroe, the four south Florida counties declared eligible for disaster aid October 4, have flood insurance coverage that amounts to a staggering $107,909,105,000.
In simpler terms, that's $107.9 billion, and it represents 49 percent of the entire state's coverage under the National Flood Insurance Program.
A check of NFIP records also shows that since the Federal Emergency Management Agency program began in 1978, flood policyholders in the four jurisdictions have paid $245 million in premiums, but collected more than $329.9 million in approved claims.
That's more than $85.3 million in net gain for the 51,790 claims that were paid.
Here's a breakdown of applicable figures for the counties.
- Miami-Dade policyholders have paid more than $90.1 million in premiums on 313,094 policies that provide more than $40.2 billion in coverage.
- Broward policyholders have paid more than $106.3 million n premiums on just over 400,000 policies with coverage totaling in excess of $52.8 billion.
- Collier flood policyholders have paid more than $25.5 million in premiums on 72,005 policies that provide more than $9.4 billion in coverage.
- Monroe policyholders have paid $22.5 million in premiums for 38,507 policies that provide more than $5.5 billion in coverage.
Florida boasts more flood insurance policies than any other state, with 1.7 million flood policies that provide $217.3 billion in coverage. That figure equals 40 percent of all flood policies in the nation.
Last Modified: Wednesday, 12-Nov-2003 15:50:20