Florida's overall flood insurance rate for hazard-zone homes is just 41 percent. Fannie Mae ostensibly requires mortgage lenders to make sure property owners buy this insurance to qualify for federally backed loans, and yet in 59 percent of the cases, that insurance isn't being paid for. Average annual premiums range from about $4,200 in Horseshoe Beach, a town of 169 residents on the Gulf Coast where 78 percent of policies have been dropped since 2012, down to about $200 in several cities. In most, it's between $300 and $500.