Florida Unveils Elevation Program to Mitigate Flood Risks for Homes

At the recent Florida Chamber of Commerce Insurance Summit, officials announced a groundbreaking initiative, Elevate Florida, designed to assist homeowners in flood-prone areas by providing financial support for home elevation projects. Spearheaded by Florida’s Division of Emergency Management, the program offers a combination of federal grants and low-interest Small Business Administration (SBA) loans to cover the 25% homeowner contribution required for grant eligibility. Homeowners can also refinance existing mortgages through the program, an unprecedented feature.

The program leverages $2 billion in federal disaster relief funds allocated after Hurricanes Debby, Helene, and Milton to support elevation and mitigation projects. The initiative addresses a critical need, as many older homes, built before modern building codes, remain vulnerable to storm damage. State officials emphasize that elevating homes could reduce insurance costs and minimize claims, easing the financial burden on homeowners and insurers alike.

Additional resources are expected to be released soon, but homeowners are encouraged to start documenting flood damage and repair costs. Elevate Florida complements other state programs, such as My Safe Florida Home, which has seen high demand for wind mitigation grants. Industry stakeholders agree that comprehensive mitigation programs are crucial as Florida faces increasing storm intensity and rising sea levels.