NORTH FORT MYERS, Fla. — More homeowners are being required to carry flood insurance on their homes because of new flood zones designated by FEMA in Southwest Florida.

Many homeowners are deciding to drop their rising flood insurance policies altogether, but that could make it more difficult to sell if you’re planning to unload it anytime soon.

Many homes in North Fort Myers neighborhoods were underwater during Hurricane Ian.

Joshua Martin said the water was over his chain link fence, and he said he had white caps in his backyard during the flooding as his family evacuated to safety on the second floor of their home.

Luckily though, he has flood insurance, but many of his neighbors did not.

“I just don’t understand that mentality. Unless you’re sitting on a quarter million dollars of liquid cash to put your house back together… flood insurance is one of those things that you’ve got to have,” Martin responded.

However, many homeowners are choosing to cancel their flood insurance altogether.

John Gardener owns the Lee County Insurance Agency in North Fort Myers and said he has been amazed by how many people call and want to cancel their flood insurance policies.

Gardner knows firsthand how important it is after he lost his business and home. 

His flood insurance costs recently went up, but he said keeping it in place will benefit the next buyer.

“You can either buy my house and take my flood policy for $1k a year, or you can get your own for $8k,” Gardner explained.

That’s how much it would cost the next owner to buy a policy rather than inherit his federally-backed insurance policy.

“I don’t have to carry flood, but if I let that policy go today and after 30 days go to buy it again or go to sell my house and the buyer has to get flood insurance…the premium on my house is nearly $8k right now,” Gardner said.

He explained that keeping home insurance serves as a tool to make it easier for people to sell their homes.