Miami-Beach-Retains-Favorable-Flood-Insurance-Rating-Version-Final-5.24.22
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City of Miami Beach, 1700 Convention Center Drive, Miami Beach, FL 33139, www.miamibeachfl.gov
OFFICE OF MARKETING & COMMUNICATIONS, Tel: 305.673.7575 Press Release
Melissa Berthier, Email: melissaberthier@miamibeachfl.gov
Matt Kenny, Email: mattkenny@miamibeachfl.gov
FOR IMMEDIATE RELEASE
May 24, 2022
Miami Beach Retains Favorable Flood Insurance Rating
— The community continues to enjoy an overall 25% savings on flood insurance premiums —
Miami Beach, FL – Miami Beach is one of three Miami-Dade municipalities that have achieved
a favorable Class 5 flood insurance rating from the Federal Emergency Management Agency
— collectively saving city policyholders some 25% in lower flood insurance premiums. The
discount amounts to $8.6 million a year in combined savings from insuring both city assets and
private properties through the National Flood Insurance Program.
“These favorable flood insurance premiums flow from the countless hours we’ve dedicated to
stormwater management planning and our communication efforts around flood awareness,”
City Manager Alina T. Hudak explained. “We also work diligently to preserve and enhance our
open space, including our magnificent dune system in Miami Beach.”
The rating was first achieved in 2019 when Miami Beach improved upon its previous Class 6
rating. FEMA recently notified the city that it has renewed the Class 5 rating for an additional
three years.
“When it comes to real estate, Miami Beach is a globally recognized brand and one of the most
resilient cities in the world,” according to Vice Chair Carlos Gutierrez, Real Estate Broker
Associate with Coldwell Banker Realty, who serves on the Miami Beach Program for Public
Information Committee. The Committee works on flood awareness outreach that contributed to
the city’s Class 5 rating. “As a real estate professional, investments in Miami Beach are
attractive thanks to a fully committed city government and its volunteer leaders like my
colleagues on this committee.”
FEMA commended Miami Beach for its community actions and “determination to lead your
community to be more disaster resistant.” The agency said the discount would apply to most
policies issued or being renewed on or after Oct. 1, 2022 in Miami Beach through the National
Flood Insurance Program.
“This savings is a tangible result of the flood mitigation activities your community implements to
protect lives and reduce property damage,” the agency stated.
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