07/10/2026
Call me if you’re ready to make the move to Florida 🌴🌺📱
🗺️ Flood insurance in Florida is not required for every home. It is required in high-risk zones when there is a federally backed mortgage, and most Citizens policies with wind coverage will need flood coverage by January 1, 2027.
A paid-off home in any zone has no federal flood requirement, though going without coverage means carrying the full risk yourself.
Florida's tax side is genuinely strong: no state income tax on Social Security, pensions, 401(k)s, or IRAs, no state estate or inheritance tax, and a homestead exemption of up to $50,000.
The Save Our Homes cap then limits homesteaded assessed-value increases to roughly 3% per year, which compounds into real savings for long-term residents.
On the cost side, Florida hurricane deductibles are typically 2%, 5%, or 10% of your dwelling coverage, so a 5% deductible on a $400,000 policy means the first $20,000 of storm damage is yours.
Flood and homeowners premiums vary widely by flood zone, elevation, roof age, and carrier, and Medigap premiums in Florida also run higher than in many states.
Establishing residency generally means making Florida your primary home and spending more than half the year there, roughly the 183-day standard, and you can rent rather than own.
For a retiree leaving a state with a 5% to 9% income tax, the savings are real, but the honest comparison is taxes, insurance, housing, and maintenance together.
If you made the move, did the insurance side change your math, or did the tax savings still win?
*The content shared here is for educational and informational purposes only. It is not personalized investment, tax, legal, or financial advice. Consult a licensed professional before making decisions based on your specific situation.*
