Flood insurance statistics in 2022

We break down average flood insurance rates by state, how likely you are to file a claim, and why it pays to take out a policy — even if you’re not in a high-risk flood zone.

Pat Howard 1600

By

Pat Howard

Pat Howard

Managing Editor & Licensed Home Insurance Expert

Pat Howard is a managing editor and licensed home insurance expert at Policygenius, where he specializes in homeowners insurance. His work and expertise has been featured in MarketWatch, Real Simple, Fox Business, VentureBeat, This Old House, Investopedia, Fatherly, Lifehacker, Better Homes & Garden, Property Casualty 360, and elsewhere.

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Did you know a standard homeowners insurance policy doesn’t cover any damage caused by flooding? You’re not alone. Over half of all homeowners in the U.S. had no idea either. Add to this the fact that a quarter of all flood claims occur to homes outside high-risk flood zones, and it’s no wonder experts recommend all homeowners sign up for flood insurance.

Not sure where to begin? Or how much you can expect to pay? We broke down flood insurance facts and statistics to make sure you’re prepared for when the unthinkable happens.

Compare rates and shop affordable flood insurance today

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Flood insurance data and facts

  • Just 1 inch of flood water can cause $25,000 in damages [1]

  • 99% of U.S. counties were affected by a flooding disaster from 1996 to 2019 [2]

  • 90% o​​f natural disasters in the U.S. involve flooding [3]

  • You’re 27 times more likely to experience a flood than a fire during a 30-year mortgage [4]

  • 25% of flood claims occur to homes outside of high-risk areas [5]

  • 53% of homeowners don’t realize that flood damage is not covered by standard home insurance policies [6]

  • Over 95% of flood insurance policies are purchased through the National Flood Insurance Program (NFIP) versus the private insurance market [7]

  • Only 1 in 10 homeowners have flood insurance through the NFIP [8]

  • Louisiana has the highest percentage of flood-insured homes — nearly 25% of homes are protected through the NFIP [9] [10]

  • Minnesota has the lowest percentage of flood-insured homes — just 0.33% have a flood insurance policy through the NFIP [11] [12]

  • As of 2022, the average annual NFIP flood insurance rate is $985 [13]

  • As of 2021, the average flood claim payout from the NFIP was $44,401 [14]

  • 145 people died due to a flooding catastrophe in 2021 — up 145% from 2020 [15]

Learn more >> How to get flood insurance in 5 simple steps

NFIP flood insurance rates by state

The average cost of an NFIP flood insurance policy is $738, according to data provided by the National Flood Insurance Program. [16] However, how much you ultimately pay depends on the following factors:

  • Your coverage amounts and type of coverage

  • The age and build of your home

  • Your home’s location and flood zone

Here’s a breakdown of how much homeowners paid on average in 2021, depending on what state they lived in.

State

Average annual rate

Average monthly rate

Alabama

$717

$60

Alaska

$963

$80

Arizona

$747

$62

Arkansas

$952

$79

California

$880

$73

Colorado

$989

$82

Connecticut

$1,496

$125

Delaware

$757

$63

District of Columbia

$854

$71

Florida

$613

$51

Georgia

$724

$60

Hawaii

$687

$57

Idaho

$797

$66

Illinois

$1,135

$95

Indiana

$1,147

$96

Iowa

$1,199

$100

Kansas

$1,033

$86

Kentucky

$1,150

$96

Louisiana

$736

$61

Maine

$1,122

$94

Maryland

$630

$53

Massachusetts

$1,298

$108

Michigan

$1,080

$90

Minnesota

$1,002

$84

Mississippi

$830

$69

Missouri

$1,228

$102

Montana

$883

$74

Nebraska

$1,080

$90

Nevada

$798

$67

New Hampshire

$1,075

$90

New Jersey

$957

$80

New Mexico

$948

$79

New York

$1,266

$106

North Carolina

$742

$62

North Dakota

$819

$68

Ohio

$1,211

$101

Oklahoma

$973

$81

Oregon

$950

$79

Pennsylvania

$1,370

$114

Rhode Island

$1,427

$119

South Carolina

$637

$53

South Dakota

$1,099

$92

Tennessee

$978

$82

Texas

$656

$55

Utah

$714

$60

Vermont

$1,648

$137

Virginia

$796

$66

Washington

$969

$81

West Virginia

$1,305

$109

Wisconsin

$1,076

$90

Wyoming

$1,067

$89

Methodology

State averages were calculated using 2021 data provided by the National Flood Insurance Program. [17] We divided the total written premiums and federal policy fees in each state by the number of in-force policies in each state to determine the average cost of premiums and fees by state.

Learn more >> How much does flood insurance cost in 2022?

Find the average cost of flood insurance in your state in 2022

Top 10 states with the most expensive flood insurance rates

Why do land-locked states like Vermont, Missouri, and West Virginia have some of the highest rates around? It’s likely because most of the homeowners opted for flood insurance in these states because their home is located on a floodplain, which is a low-lying area near a river that’s prone to flooding. The greater risk of flooding comes with a higher insurance price tag to match.

Rank

State

Average annual rate

Average monthly rate

1.

Vermont

$1,648

$137

2.

Connecticut

$1,496

$125

3.

Rhode Island

$1,427

$119

4.

Pennsylvania

$1,370

$114

5.

West Virginia

$1,305

$109

6.

Massachusetts

$1,298

$108

7.

New York

$1,266

$106

8.

Missouri

$1,228

$102

9.

Ohio

$1,211

$101

10.

Iowa

$1,199

$100

Top 10 states with the cheapest flood insurance rates

Meanwhile, coastal states including Florida, Maryland, and South Carolina have some of the cheapest flood insurance rates. Why? Because of the National Flood Insurance Program’s goal to make access to flood insurance for homeowners who are most at risk more affordable.

Rank

State

Average annual rate

Average monthly rate

1.

Florida

$613

$51

2.

Maryland

$630

$53

3.

South Carolina

$637

$53

4.

Texas

$656

$55

5.

Hawaii

$687

$57

6.

Utah

$714

$60

7.

Alabama

$717

$60

8.

Georgia

$724

$60

9.

Louisiana

$736

$61

10.

North Carolina

$742

$62

Compare rates and shop affordable flood insurance today

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NFIP flood insurance policies by state

We analyzed data from the National Flood Insurance Program [18] and the U.S. Census Bureau [19] to calculate the percentage of homes in each state with flood insurance policies through the NFIP.

State

Number of homes

Active NFIP policies

Insured homes

Alabama

2,288,330

52,278

2.28%

Alaska

326,200

2,200

0.67%

Arizona

3,082,000

26,402

0.86%

Arkansas

1,365,265

13,416

0.98%

California

14,392,140

203,929

1.42%

Colorado

2,491,404

18,424

0.74%

Connecticut

1,530,197

32,633

2.13%

Delaware

448,735

26,386

5.88%

District of Columbia

350,364

2,049

0.58%

Florida

9,865,350

1,714,008

17.37%

Georgia

4,410,956

79,545

1.8%

Hawaii

561,066

60,529

10.79%

Idaho

751,859

5,688

0.76%

Illinois

5,426,429

35,331

0.65%

Indiana

2,923,175

18,217

0.62%

Iowa

1,412,789

11,467

0.81%

Kansas

1,275,689

8,207

0.64%

Kentucky

1,994,323

19,078

0.96%

Louisiana

2,073,200

509,020

24.55%

Maine

739,072

7,450

1.01%

Maryland

2,530,844

64,563

2.55%

Massachusetts

2,998,537

56,020

1.87%

Michigan

4,570,173

19,903

0.44%

Minnesota

2,485,558

8,184

0.33%

Mississippi

1,319,945

60,997

4.62%

Missouri

2,786,621

18,231

0.65%

Montana

514,803

4,089

0.79%

Nebraska

844,278

8,424

1%

Nevada

1,281,018

10,190

0.8%

New Hampshire

638,795

7,424

1.16%

New Jersey

3,761,229

210,483

5.6%

New Mexico

940,859

10,914

1.16%

New York

8,488,066

165,633

1.95%

North Carolina

4,708,710

139,127

2.95%

North Dakota

370,642

8,255

2.23%

Ohio

5,242,524

26,655

0.51%

Oklahoma

1,746,807

11,576

0.66%

Oregon

1,813,747

24,394

1.34%

Pennsylvania

5,742,828

49,392

0.86%

Rhode Island

483,474

11,254

2.33%

South Carolina

2,344,963

206,573

8.81%

South Dakota

393,375

3,015

0.77%

Tennessee

3,031,605

27,148

0.90%

Texas

11,589,324

786,051

6.78%

Utah

1,151,414

3,932

0.34%

Vermont

334,318

3,219

0.96%

Virginia

3,618,247

100,739

2.78%

Washington

3,202,241

31,864

1%

West Virginia

855,635

12,490

1.46%

Wisconsin

2,727,726

11,798

0.43%

Wyoming

271,887

1,610

0.59%

Methodology

To calculate the percentage of owner-occupied homes in each state with flood insurance through the NFIP, we divided the total number of active NFIP policies [20] in each state by the total number of owner-occupied homes in that state according to the U.S. Census Bureau. [21]

Keep in mind that we did not take into account homes with private flood insurance.

Learn more >> NFIP vs. private flood insurance companies

Top 5 states with homeowners most prepared for a flood

We nailed down the states with the highest percentage of homes with flood insurance through the NFIP. 

Rank

State

Insurance homes

1.

Louisiana

24.55%

2.

Florida

17.37%

3.

Hawaii

10.79%

4.

South Carolina

8.81%

5.

Texas

6.78%

Top 5 states with homeowners least prepared for a flood

Here are the top five states with the lowest percentage of homes with flood insurance through the NFIP.

Rank

State

Insured homes

1.

Minnesota

0.33%

2.

Utah

0.34%

3.

Wisconsin

0.43%

4.

Michigan

0.44%

5.

Ohio

0.51%

NFIP flood insurance claims and total payouts by state

The average flood insurance claim payout through the NFIP was $44,401 in 2021. [22] Check out the table below to find out how many claims were filed in your state — and the average payout for the claims that were approved.

State

Total claims

Average claim payout

Alabama

563

$32,187

Alaska

11

$14,078

Arizona

160

$33,200

Arkansas

148

$ 36,195

California

79

$ 37,590

Colorado

51

$ 20,017

Connecticut

904

$ 25,738

Delaware

118

$ 15,276

District of Columbia

21

$ 6,994

Florida

4,288

$ 37,385

Georgia

598

$ 29,787

Hawaii

114

$ 36,106

Idaho

4

$ 1,984

Illinois

120

$ 16,004

Indiana

114

$ 42,566

Iowa

26

$ 38,248

Kansas

28

$ 25,152

Kentucky

730

$ 34,800

Louisiana

20,865

$ 60,344

Maine

5

$ 18,341

Maryland

192

$ 12,306

Massachusetts

207

$ 16,875

Michigan

330

$ 14,424

Minnesota

5

$ 16,559

Mississippi

1,609

$ 24,216

Missouri

148

$ 34,532

Montana

4

$ 0

Nebraska

16

$ 33,163

Nevada

38

$ 39,988

New Hampshire

22

$ 62,740

New Jersey

7,297

$ 37,990

New Mexico

55

$ 21,134

New York

3,793

$ 33,248

North Carolina

707

$ 40,724

North Dakota

5

$ 5,463

Ohio

193

$ 24,348

Oklahoma

76

$ 44,050

Oregon

37

$ 15,473

Pennsylvania

2,188

$ 33,042

Rhode Island

74

$ 24,992

South Carolina

256

$ 16,401

South Dakota

N/A

N/A

Tennessee

1,115

$ 51,241

Texas

2,357

$ 32,074

Utah

21

$ 21,465

Vermont

26

$ 28,669

Virginia

302

$ 13,278

Washington

70

$ 39,584

West Virginia

240

$ 29,075

Wisconsin

36

$ 9,441

Wyoming

2

$ 0

Methodology

To calculate the average flood insurance claims payout through the NFIP in each state, we divided the total claims payments in each state by the number of claims that were filed and closed with payment in that same state. [23]  

The NFIP didn’t have data available for South Dakota as of December 2021, which is why we marked that state as N/A.

Top 10 cities most at risk of flooding

Not surprisingly, most of the top 10 cities at risk of flooding due to storm surge and hurricane-force winds can be found in coastal areas throughout Florida.

Here’s how it breaks down, according to CoreLogic data analyzed by the Insurance Information Institute. [24]

Rank

City

Homes at risk of storm surge

Homes at risk of hurricane-force winds

1.

New York, NY

781,823

3,378,397

2.

Miami, FL

738,994

1,997,608

3.

Tampa, FL

544,433

1,102,691

4.

New Orleans, LA

396,870

424,460

5.

Virginia Beach, VA

395,653

578,622

6.

Fort Meyers, FL

321,940

348,965

7.

Bradenton, FL

284,828

373,133

8.

Houston, TX

261,103

1,987,408

9.

Jacksonville, FL

220,301

548,161

10.

Naples, FL

197,265

201,314

Methodology

To calculate the cities most at risk of flooding in the U.S., the Insurance Information Institute analyzed CoreLogic data of the number of homes located in areas at high risk of storm surge or hurricane-force winds. [25]

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Average NFIP flood claims by year

Here’s the average flood claim payout per year up until 2018, according to FEMA. [26]

Year

Total NFIP policies

Average flood claim payout

2009

5,700,235

$25,133

2010

5,645,436

$26,529

2011

5,646,144

$31,053

2012

5,620,017

$62,674

2013

5,568,642

$27,185

2014

5,406,725

$29,459

2015

5,205,094

$39,861

2016

5,081,470

$62,247

2017

5,047,602

$91,735

2018

5,178,978

$42,580

Top 10 most expensive flood catastrophes in the U.S.

Hurricane Katrina will go down as the most expensive flood catastrophe in terms of total claims paid out by the NFIP — causing $16,258 million of destruction. Meanwhile, Hurricane Harvey brought the highest cost of destruction per household — with homeowners averaging over $115,000 in payments per claim filed with the NFIP.

Check out all 10 of the most expensive flood catastrophes in the U.S. from 1978 to 2019 below. [27]

Rank

Flood catastrophe

Date

States affected

Total flood claims paid (in millions)

Average claim amount

1.

Hurricane Katrina

August 2005

AL, FL, GA, LA, MS, TN

$16,258

$97,474

2.

Hurricane Harvey

September 2017

AL, AR, FL, GA, KY, LA, MS, NC, TX

$8,909

$116,823

3.

Superstorm Sandy

October 2012

CT, DC, DE, MA, MD, ME, NC, NH, NJ, NY, OH, PA, RI, VA, VT, WV

$8,804

$66,517

4.

Hurricane Ike

September 2008

AR, IL, IN, KY, LA, MO, OH, PA, TX

$2,702

$57,866

5.

Louisiana severe storms

August 2016

LA

$2,468

$91,507

6.

Hurricane Ivan

September 2004

AL, DE, FL, GA, LA, MD, MS, NJ, NY, NC, OH, PA, TN, VA, WV

$1,608

$57,097

7.

Hurricane Irene

August 2011

CT, DC, DE, MA, MD, ME, NC, NH, NJ, NY, PA, RI, VA, VT

$1,346

$30,369

8.

Tropical Storm Allison

June 2011

FL, LA, MS, NJ, PA, TX

$1,105

$36,028

9.

Hurricane Irma

September 2017

FL, GA, SC

$1,054

$48,095

10.

Hurricane Matthew

October 2016

FL, GA, NC, SC, VA

$654

$39,455

Learn more >> Which U.S. states have the most hurricanes?

Private flood insurance in the U.S.

The number of insurance companies writing private flood coverage has increased over the last few years — with 175 carriers selling private flood insurance in 2020. [28]

Year

Private flood insurance companies

2018

127

2019

152

2020

175

Why are more people getting private flood insurance? 

In the past, flood insurance was viewed as an untouchable risk. But thanks to technological advancements, flood events are more predictable, flood maps are more accurate than that of their FEMA counterparts, and it's now easier to assess the risk faced by each home.

Private flood insurance is also becoming more popular with homeowners since it can offer higher coverage limits than the NFIP, which currently caps coverage at $250,000. It also helps that the federal government ruled that regulated mortgage lenders must accept flood insurance policies from private insurers as long as they’re comparable to NFIP policies.

Learn more >> The best flood insurance companies of 2022

Largest private flood insurance companies

Here are the top writers of private flood insurance in the U.S. in 2020, according to data from the National Association of Insurance Commissioners (NAIC). [29]  

Insurance company

Total premiums written

Market share

Zurich

$98,749

13.8%

Assurant

$97,374

13.6%

AIG

$75,318

10.6%

AXA

$68,696

9.6%

Swiss Re

$67,471

9.5%

Arch Capital Group

$49,678

7%

Berkshire Hathaway

$41,417

5.8%

Liberty Mutual

$38,601

5.4%

Allstate

$35,584

5%

MAPFRE

$27,123

3.8%

Methodology

The Insurance Information Institute analyzed NAIC data of direct premiums written in 2020 for both private residential and commercial coverage from private insurance companies. [30]

Direct premiums are the amount insurance companies make off of each individual insurance policy.

The table does not include FM Global, which reclassified private flood insurance as part of allied lines in 2019. FM Global had $300 million in direct premiums written for private flood insurance in 2018 — 43% of the total U.S. private flood market.

Compare rates and shop affordable flood insurance today

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References

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Policygenius uses external sources, including government data, industry studies, and reputable news organizations to supplement proprietary marketplace data and internal expertise. Learn more about how we use and vet external sources as part of our

editorial standards.
  1. National Flood Services

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    Estimated Flood Loss Potential

    ." Accessed December 29, 2021.

  2. FEMA

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    Historical Flood Risk and Costs

    ." Accessed December 29, 2021.

  3. Insurance Information Institute

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    Facts + Statistics: Flood insurance

    ." Accessed December 29, 2021.

  4. National Insurance Commissioners Association

    . "

    Flood Insurance Basics

    ." Accessed December 29, 2021.

  5. Policygenius

    . "

    Home Insurance Literacy Survey 2020: Americans are confused about coverage

    ." Accessed December 29, 2021.

  6. Wharton University of Pennsylvania Risk Management and Decision Process Center

    . "

    The Emerging Private Residential Flood Insurance Market in the United States

    ." Accessed December 29, 2021.

  7. risQ, Inc.

    . "

    Economic and Racial Inequality in FEMA SFHA Flood Zone Designations

    ." Accessed December 29, 2021.

  8. National Flood Insurance Program

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    Flood Insurance Data and Analytics

    ." Accessed December 29, 2021.

  9. U.S. Census Bureau

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    2020 Population and Housing State Data

    ." Accessed May 27, 2022.

  10. National Weather Service

    . "

    NWS Preliminary US Flood Fatality Statistics

    ." Accessed December 29, 2021.

Author

Managing Editor & Licensed Home Insurance Expert

Pat Howard

Managing Editor & Licensed Home Insurance Expert

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Pat Howard is a managing editor and licensed home insurance expert at Policygenius, where he specializes in homeowners insurance. His work and expertise has been featured in MarketWatch, Real Simple, Fox Business, VentureBeat, This Old House, Investopedia, Fatherly, Lifehacker, Better Homes & Garden, Property Casualty 360, and elsewhere.

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