If you are planing on closing your Miami, Coral Gables, Coconut Grove or Pinecrest home. Then most likely your bank will require that your purchase flood insurance. Even though your property may be located in zone X ( not a flood zone) your lender  may requiere it in order to close    on  your property

President Obama signed a bill to that would extend the National Insurance Program -to November 18, 2011. The National Insurance program was created by the government because of the lack of afordable flood insurance nationwide.

If you are buying a condo in Brickell or Miami Beach this should not be concern for you unless the master insurance policy for the condo building in which you are purchasing does not include flood insurance. Something to check on before you go to the closing table.

Please drop me a line with any questions that you may have.