HoneyQuote, a digital insurance agency based in Florida, has unveiled a new flood insurance marketplace, providing homeowners in the state with an additional avenue for securing coverage. This launch is timely, as many Floridians navigate a recent flood insurance mandate from Citizens, the state’s property insurer of last resort.
Citizens’ new requirement, effective January 1st and part of a phased implementation, dictates that homeowners with $500,000 or more in dwelling coverage from the insurer must obtain flood insurance to maintain their home and wind coverage. Eventually, by 2027, all policyholders will be required to carry flood insurance regardless of their dwelling coverage level.
With over 900,000 Floridians currently insured through Citizens, HoneyQuote aims to streamline the process. Freddy Seikaly, HoneyQuote’s CEO, stated in a press release, “With flood insurance requirements tightening and storms becoming more severe, homeowners need a simple and reliable way to get covered. Our flood insurance marketplace empowers Floridians to shop, compare, and secure affordable policies without the stress of navigating a complicated process.”
Where to Find Flood Insurance in Florida
Florida homeowners can acquire flood insurance through two primary channels: the National Flood Insurance Program (NFIP) and various private insurance companies.
To obtain coverage through the NFIP, homeowners can directly contact participating flood insurance companies or use the NFIP’s online quotation tool. However, eligibility for NFIP coverage is contingent on residing in a participating community that adheres to FEMA guidelines aimed at minimizing flood risk.
According to a 2024 NFIP report, Florida has 1.7 million NFIP policyholders, representing over $450 billion in total coverage. Additionally, homeowners in high-risk flood zones may be obligated to purchase flood insurance to satisfy requirements associated with their government-backed mortgages. Those who don’t meet NFIP criteria and still seek flood insurance must explore options from independent private insurance providers.
HoneyQuote’s Market Position
While not the first quote-comparison tool for flood insurance in Florida, HoneyQuote leverages a distinct market presence in the state’s property insurance sector. Launched in 2019, the agency reports having insured over $1 billion in property value since its inception; in 2024, the company sold a majority stake to NSI Insurance Group.
HoneyQuote’s flood insurance tool aggregates quotes from multiple private companies, including some that offer “write your own” policies from the National Flood Insurance Program (NFIP). By inputting their address into the HoneyQuote platform, Florida homeowners can receive a curated list of insurance options from various providers.
