A standard home insurance policy doesn't cover water damage causing by flooding, which means you'll need separate flood insurance to get reimbursed in the event that your house is flooded. Some mortgage lenders may actually require you to purchase flood insurance if your home is in a Special Flood Hazard Area (SFHA), which are areas with a high-to-extreme risk of flooding.
While flood insurance may seem like just another useless homeownership cost, it's become an increasingly necessary piece of financial protection for homeowners throughout the country given the increased frequency of severe coastal and inland flood events. Learn about how much flood insurance costs in your state, ZIP code, and flood zone, as well as different strategies to keep your rates down.
How much is flood insurance?
The average cost of flood insurance is $74 a month or $888 per year, according to a Policygenius analysis of 2023 policyholder data released by the Federal Emergency Management Agency (FEMA).  This analysis is based on the average policy cost with the National Flood Insurance Program (NFIP) — which provides the vast majority of flood insurance policies in the U.S. — however, it doesn't take into account what homeowners might pay for private flood insurance (which isn't backed by the federal government).
Average cost of flood insurance by state
Depending on your state, average annual flood insurance costs can range anywhere from $400 to $1,600, with states on the East Coast currently paying the most. Here's the average cost of flood insurance in each state (plus Washington, D.C.) for a single-family home in 2023, according to FEMA.
Average annual cost
Average monthly cost
Average flood insurance rates by flood zone
Flood insurance premiums can vary substantially depending on which flood zone you live in. Homeowners in SFHAs where flood insurance is generally required by lenders, such as zone AE, pay around 59% more on average than homeowners in moderate-to-low risk areas.
Homeowners in undetermined risk areas, which are typically rural areas where a flood hazard analysis has not yet been conducted by FEMA, pay 35% more on average than homeowners in high-risk areas.
Here's how average flood insurance rates compare in each flood zone.
Average annual cost
High risk (all A and V zones)
Moderate to low risk (all B, C, and X zones)
Undetermined risk areas (Zone D)
The cheapest states for flood insurance
With an average rate of $404 per year, Washington, D.C. has the cheapest flood insurance in the U.S., followed by Alaska, Maryland, Utah, and Nevada.
Washington, D.C.: $404
Most expensive states for flood insurance
Connecticut's average flood insurance rate of $1,590 per year is the most expensive of any state, followed by Massachusetts, Hawaii, New York, and Rhode Island.
New Hampshire: $1,216
Compare flood insurance rates by ZIP code
Food insurance prices can vary substantially depending on which ZIP code, as a home's base flood elevation and other factors that impact rates can differ from neighborhood to neighborhood and even block to block.
We calculated average flood insurance rates for around 14,000 U.S. ZIP codes with at least five active NFIP policies, as well as how this amount compares to the overall average in the state for each ZIP code.
Type in your ZIP code below to see the average cost of flood insurance where you live.
5 factors that impact the cost of flood insurance
There are multiple factors that the NFIP and private flood insurance companies use to calculate your flood insurance rates, including your home's location, characteristics (like its foundation type), and the home's replacement cost value, which is based on how much it'd cost to rebuild your home from the ground up in the event of a disaster.
Here’s a look at the different factors that affect flood insurance prices.
Flood risk in your location
Your flood insurance rates hinge primarily on your home's location and how susceptible it is to being flooded. If your house is near a large body of water or in an SFHA, meaning a high-risk flood zone with at least a 26% chance of flooding during the course of a 30-year mortgage, you’ll likely pay significantly more than if you lived in a moderate- to low-risk area.
Flood insurance costs are also based on various details about your home, such as its foundation type (like if you have a basement or crawlspace), its age, and whether appliances and other property inside the home is above the base flood elevation (BFE). Homes with finished basements, lots of property below the BFE, or that aren't retrofit with flood mitigation features are likely going to cost more to insure.
The more coverage you need to replace your home or personal possessions, the higher your flood insurance premiums will be. The NFIP provides up to $250,000 in building coverage to cover damage to your home’s structure and any built-in systems or appliances. You also have the option of purchasing up to $100,000 in contents coverage for your personal belongings, such as clothing and furniture. If you opt for private flood insurance, you may have access to higher limits of coverage for both your home and your belongings.
Your policy deductible is the amount you’re responsible for paying before your flood insurance will cover the rest of the damage. Choosing a higher deductible can lower your rates, but increases the out-of-pocket amount you need to pay when you make a claim.
Where are flood insurance rates increasing the most under Risk Rating 2.0?
In October 2021, FEMA completely overhauled how it determines NFIP flood insurance prices by introducing a new pricing methodology called Risk Rating 2.0. The changes increased the cost of flood insurance on roughly 77% of existing NFIP policies.
According to FEMA, Risk Rating 2.0 incorporates more flood risk variables -- such as the property's replacement value and the likelihood of flash floods and other types of flooding that weren't considered before -- rather than the legacy rating system which only considered the home's flood zone and larger bodies of water. 
The agency claims that the new rates will be more equitable and that premiums will be more closely aligned with a property's actual flood risk. However, it also means that a substantial number of policyholders all over the country are going to see their rates skyrocket for the foreseeable future until each policy reaches its "risk-based cost" according to the new rating system. Federal law states that the NFIP can't increase rates more than 18% in any given year, so it will likely take a number of years for the risk-based cost of many policies to be fully realized.
According to a 2023 report from the Congressional Research Service, FEMA estimates that 50% of current NFIP policies will be at their full risk rate after five years, while 90% will reach their full risk-based cost after 10 years. 
With existing NFIP flood insurance policies set to see an average rate increase of 51% nationally in the next 10 years, from the current average of $888 to the average risk-based cost of $1,808, certain states will likely see their average premiums surge more than others.
Here's the states where flood insurance is set to increase the most in the next five to 10 years.
Average annual risk-based cost
Difference from current cost (%)
District of Columbia
Do I need flood insurance?
Since most homeowners insurance policies don’t cover water damage from flooding, you’ll want to consider flood insurance if your house is in an area at risk of flooding. If you don’t have flood insurance and your home gets flooded, you’ll have to pay for repairs and new belongings out of your own pocket. Flood insurance is also typically required if your home is in a high-risk flood zone and you have a federally backed mortgage.
However, a startling number of homeowners who should have flood insurance are uninsured, according to our analysis.
Of the roughly 7 million housing units located in Special Flood Hazard Areas (SFHAs), the highest flood risk designation, just 21% of those homes have flood insurance.  
The table below provides a state-by-state breakdown of this finding.
Estimated SFHA homes
Estimated uninsured SFHA homes
Estimated percentage of uninsured SFHA homes
District of Columbia
How to save money on flood insurance
There are several steps you can take to mitigate your home’s flood risk and also lower your flood insurance rates. According to FEMA, these are the most effective ways to lower your flood insurance rates. 
Floodproof your house. Elevating your house, moving water heaters and other home systems to higher ground, filling in basements and crawl spaces, and installing flood openings or barriers in your home can all lead to lower flood insurance rates.
Increase your policy deductible. Setting your deductible at the $10,000 maximum can reduce your rates by as much as 40%, according to FEMA. Before increasing your deductible, make sure it’s set to an amount you can afford.
Community-wide discounts. If your community is enrolled in the NFIP’s Community Rating System, you’re eligible for a discount of anywhere from 5% to 45%. You can visit FEMA’s Community Rating System page to see if your community participates.
Use an elevation certificate. An elevation certificate (EC) is a document that details your home’s flood risk. If you have an EC and it can prove that your home is above the Base Flood Elevation in your community, that could help lower your rates.
To find the average cost of flood insurance in each state and flood zone across the U.S., Policygenius analyzed the latest available NFIP premium data released by FEMA for every state and over 14,000 ZIP codes in the U.S.