How much does flood insurance cost in 2022?

The average cost of flood insurance through the National Flood Insurance Program is $738 per year, but your own flood insurance rates will vary depending on your home’s location and how much coverage you need.

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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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The average monthly cost of flood insurance in the U.S. is $62, according to our analysis of 2022 National Flood Insurance Program (NFIP) policy data. [1] However, keep in mind your own flood insurance rates will vary depending on your coverage amounts and flood zone.

If you live in a special flood hazard areas, like zones A, AE, or AO, you’ll likely have higher flood insurance rates than a homeowner in an area with lower flood risk. Lenders also usually require homeowners in high-risk flood zones to purchase flood insurance. While it may be tough to avoid unless you own your home outright, there are plenty of ways to keep costs down.

Compare rates and shop affordable flood insurance today

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State

Average cost all flood zones

Average annual cost moderate-risk areas

Average annual cost high-risk areas

Alabama

$782

$655

$1,161

Alaska

$766

$680

$1,130

Arizona

$680

$640

$790

Arkansas

$721

$642

$1,251

California

$707

$654

$811

Colorado

$805

$693

$1,852

Connecticut

$1,198

$825

$2,585

Delaware

$939

$720

$1,307

District of Columbia

$686

$661

$2,197

Florida

$785

$610

$1,198

Georgia

$699

$623

$971

Hawaii

$1,033

$709

$2,815

Idaho

$731

$662

$2,398

Illinois

$729

$692

$1,769

Indiana

$691

$675

$1,236

Iowa

$752

$682

$1,054

Kansas

$736

$713

$2,001

Kentucky

$796

$698

$1,713

Louisiana

$656

$603

$986

Maine

$1,065

$862

$2,959

Maryland

$755

$676

$1,116

Massachusetts

$883

$784

$1,836

Michigan

$753

$710

$1,605

Minnesota

$722

$681

$1,585

Mississippi

$773

$683

$2,254

Missouri

$746

$680

$1,019

Montana

$821

$762

$1,593

Nebraska

$815

$709

$1,723

Nevada

$767

$673

$1,103

New Hampshire

$937

$718

$1,170

New Jersey

$749

$668

$1,288

New Mexico

$974

$760

$2,300

New York

$725

$710

$1,091

North Carolina

$769

$703

$1,235

North Dakota

$699

$644

$1,070

Ohio

$732

$679

$1,855

Oklahoma

$646

$615

$1,282

Oregon

$745

$689

$1,222

Pennsylvania

$766

$710

$2,097

Rhode Island

$1,001

$796

$2,554

South Carolina

$738

$605

$944

South Dakota

$745

$694

$1,796

Tennessee

$693

$633

$1,229

Texas

$643

$594

$1,212

Utah

$667

$648

$1,173

Vermont

$731

$654

$1,158

Virginia

$815

$725

$2,475

Washington

$733

$661

$1,186

West Virgina

$721

$687

$1,949

Wisconsin

$737

$697

$1,220

Wyoming

$799

$716

$2,088

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

The cheapest states for flood insurance

Texas and Louisiana — two states with arguably the highest flood risk — also happen to be the cheapest for NFIP flood insurance. Rounding out the top five are the states of Oklahoma, Utah, and Arizona. 

  1. Texas: $643

  2. Oklahoma: $646

  3. Louisiana: $656

  4. Utah: $667

  5. Arizona: $680

The most expensive states for flood insurance

Three of the five most expensive states for NFIP flood insurance are located in the Northeast: Connecticut, Maine, and Rhode Island. Hawaii and New Mexico join them as two of the most expensive states for NFIP coverage. 

  1. Connecticut: $1,198

  2. Maine: $1,065

  3. Hawaii: $1,033

  4. Rhode Island: $1,001

  5. New Mexico: $974

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

5 factors that affect your flood insurance rates

There are multiple factors that the NFIP and private flood insurance companies use to calculate your flood insurance rates, including your home's flood risk, the type of coverage in your policy, your policy's deductible amount, and the age and design of your home. 

Here’s a look at the different variables that determine your flood insurance rates.

Flood zone

Your flood insurance rates hinge primarily on how susceptible your home is to being flooded. If your house is in a FEMA-designated 100-year flood plain, meaning an area that faces a 26% chance of flooding during the span of a 30-year mortgage, you’ll likely pay significantly more than if you lived in a moderate to low-risk area. 

Flood zone

Average annual cost

High-risk areas

$1,167

Moderate to low-risk flood areas

$630

Coverage types and amounts

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. The more building or contents coverage you choose, the higher your flood insurance premiums will be. 

Home age and construction

The age of your house and the way it’s built will also have a significant impact on your flood insurance costs. Older homes that don’t have proper flood mitigation features, like flood openings or barriers, or home’s that aren’t built up to modern floodproofing standards are likely going to cost more to insure. 

Deductible amount

Your policy deductible is the amount you’re responsible for paying before flood insurance will cover your claim. A higher deductible means lower rates, but it also means you’ll be paying more out of pocket if you ever file a claim for flood damages.

Risk Rating 2.0

Your flood insurance rates may also have been impacted by Risk Rating 2.0 — FEMA’s new method for calculating flood insurance rates. The changes, which went into effect on new policies in October 2021 and existing ones in April 2022, are expected to increase flood insurance rates on roughly 77% of existing NFIP policies. 

According to FEMA, the rate changes do a better job of reflecting each home’s actual flood risk by taking additional sources of flooding into consideration, like heavy rainfall and storm surge. [2] Before the changes, your rates were primarily based on your home’s flood zone.  

Learn more >> How will Risk Rating 2.0 impact flood insurance rates where you live?

What does flood insurance cover?

Flood insurance covers water damage to your home and belongings caused by natural flooding, including heavy rains, overflowing lakes and rivers, storm surge, and rapid snowmelt. 

However, flooding that originates in your house — like a burst pipe or ruptured water heater — is typically covered under your homeowners insurance. Additionally, if a flash flood causes your sewer lines to backup and your house is subsequently flooded, that also wouldn’t be covered by flood insurance. 

FEMA flood insurance includes two types of coverage with their own separate deductible options: building property coverage and personal property coverage.

Building property coverage

  • Your home’s structure and foundation

  • Electrical and plumbing systems

  • Furnaces and water heaters

  • Built-in appliances, including refrigerators, stoves, and dishwashers

  • Permanently installed carpeting

  • Central air-conditioners

  • Cabinets, paneling, and bookcases

  • Detached garages

  • Fuel tanks, well water tanks and pumps, and solar equipment 

Personal property coverage

  • Clothing

  • Furniture

  • Electronics

  • Window air conditioning units

  • Portable appliances

  • Washer and dryers

  • Freezers

  • Artwork, furs, jewelry, and watches

Learn more >> What flood insurance covers

Do I need flood insurance?

Since most homeowners insurance policies don’t cover water damage from flooding, you’ll need 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.  

Learn more >> When is flood insurance required?

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. [3] [4]

The table below provides a state-by-state breakdown of this finding.

State

Estimated SFHA homes

Estimated uninsured SFHA homes

Estimated percentage of uninsured SFHA homes

Alabama

128,846

113,345

88.0%

Alaska

8,271

7,303

88.3%

Arizona

99,388

87,064

87.6%

Arkansas

82,189

75,705

92.1%

California

388,325

307,591

79.2%

Colorado

43,615

39,571

90.7%

Connecticut

86,907

75,573

87.0%

Delaware

34,713

25,114

72.3%

District of Columbia

3,465

3,260

94.1%

Florida

1,893,920

1,389,972

73.4%

Georgia

231,038

205,089

88.8%

Hawaii

46,243

40,635

87.9%

Idaho

17,047

15,024

88.1%

Illinois

118,485

105,161

88.8%

Indiana

121,354

113,422

93.5%

Iowa

40,825

37,371

91.5%

Kansas

44,039

41,505

94.2%

Kentucky

90,049

80,197

89.1%

Louisiana

247,341

88,224

35.7%

Maine

17,904

15,715

87.8%

Maryland

56,411

43,318

76.8%

Massachusetts

181,393

166,470

91.8%

Michigan

140,620

131,859

93.8%

Minnesota

56,622

54,542

96.3%

Mississippi

145,578

125,269

86.0%

Missouri

76,393

69,179

90.6%

Montana

15,824

14,661

92.7%

Nebraska

39,982

36,260

90.7%

Nevada

31,772

26,337

82.9%

New Hampshire

37,073

34,805

93.9%

New Jersey

230,313

142,352

61.8%

New Mexico

41,125

34,994

85.1%

New York

269,165

214,888

79.8%

North Carolina

225,079

172,863

76.8%

North Dakota

22,977

21,471

93.4%

Ohio

159,918

149,084

93.2%

Oklahoma

90,510

86,605

95.7%

Oregon

59,125

50,107

84.7%

Pennsylvania

160,839

144,530

89.9%

Rhode Island

29,053

25,684

88.4%

South Carolina

196,450

127,900

65.1%

South Dakota

18,781

17,821

94.9%

Tennessee

92,805

83,631

90.1%

Texas

611,937

482,059

78.8%

Utah

11,108

10,625

95.7%

Vermont

13,564

12,391

91.4%

Virginia

153,168

120,385

78.6%

Washington

29,863

17,124

57.3%

West Virgina

62,339

55,395

88.9%

Wisconsin

112,100

107,925

96.3%

Wyoming

5,317

4,845

91.1%

The percentage of uninsured homes in SFHAs is the ratio of the number of active NFIP policies (as of October 2021) to total housing units in SFHAs in each state based on NYU Furman Center’s ‘Housing in the U.S. Floodplains’ study.

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. [5]

  • 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.

Compare rates and shop affordable flood insurance today

We don't sell your information to third parties.

Frequently asked questions

Is private flood insurance cheaper than NFIP insurance?

The private flood insurance market is getting bigger, and that may be better for flood insurance rates, according to a study conducted by consulting firm Milliman. The study looked at three states that account for over 50% of NFIP policies — Florida, Texas, and Louisiana — and found that an overwhelming number of homes in each state could see cheaper rates with private flood insurance.

Learn more >> The best flood insurance companies in the U.S.

How much does flood insurance cost in zone AE?

The average cost of NFIP flood insurance in high-risk flood areas is $1,167 per year. Homes in the AE zone account for most SFHA policies, so you should expect to pay around that much if your house is located in that zone.

Is flood insurance required?

Flood insurance isn’t required by law, but if you live in a SFHA and you have a federally-backed mortgage on your house, your lender will likely require flood insurance before extending you a loan.

What does flood insurance cover?

Flood insurance covers your home, its foundation, and contents inside your house like furniture, electronics, and jewelry if they’re damaged by flooding. A standard NFIP policy offers up to $250,000 in building coverage for your home, and $100,000 in contents coverage for your belongings.

Methodology

To find the average cost of flood insurance in each state and flood zone across the U.S., Policygenius analyzed the latest available NFIP flood insurance policy data from OpenFEMA — FEMA’s publicly available rate tables. Average rates were based on a single-family home with $250,000 in building coverage and $100,000 in contents coverage.

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. The Federal Emergency Management Agency

    . "

    OpenFEMA

    ." Accessed June 03, 2022.

  2. Federal Emergency Management Agency

    . "

    Risk Rating 2.0: Equity in Action

    ." Accessed June 03, 2022.

  3. NYU Furman Center

    . "

    Housing in the U.S. Floodplains

    ." Accessed June 03, 2022.

  4. Federal Emergency Management Agency

    . "

    How can I pay less for flood insurance?

    ." Accessed June 03, 2022.

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.

Expert reviewer

Licensed Property & Casualty Expert

Deante' Peake

Licensed Property & Casualty Expert

gray linkedin icon link

Deante' Peake is a licensed property and casualty insurance expert and a former operations manager at Policygenius.

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