Flood Insurance

Substantial Improvement Requirements
The Village of Biscayne Park and the National Flood Insurance Program require that if the cost of reconstruction, rehabilitation, additions, or other improvements to a building equal or exceeding 50% of the building’s market value, the building must meet the same construction requirements as a new building. This includes elevating the lowest floor to current standards. Damaged buildings must also be brought up to the same standards. 
All properties located in a Special Flood Hazard Area (SFHA) and secured by a federally backed mortgage must carry flood insurance. The two types of flood insurance coverage are structural and contents. Renters can buy coverage even if the owner does not insure the structure. To find out more about flood insurance contact any licensed insurance agent. 
Policy Start Date
When purchasing flood insurance, the policy does not go into effect until 30 days after the purchase date. For the most current information on flood insurance premiums and to locate a flood insurance agent in your area, please visit https://www.floodsmart.gov/.