How much does flood insurance cost?

Flood insurance costs an average of $939 per year or $78 per month, according to our analysis of the latest data released by FEMA. However, your own rates may vary based on your home's location and elevation.

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Pat HowardManaging Editor & Licensed Home Insurance ExpertPat 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.

Edited by

Jennifer GimbelJennifer GimbelSenior Managing Editor & Home Insurance ExpertJennifer Gimbel is a senior managing editor and home insurance expert at Policygenius, where she oversees our homeowners insurance coverage. Previously, she was the managing editor at Finder.com and a content strategist at Babble.com.
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Deante' PeakeDeante' PeakeLicensed Property & Casualty ExpertDeante' Peake is a licensed property and casualty insurance expert and a former operations manager at Policygenius.

Updated|5 min read

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The average cost of flood insurance in the U.S. is $939 per year for a policy with $225,000 in building coverage and $75,000 in contents coverage, according to our analysis of 2023 National Flood Insurance Program (NFIP) policy data released by FEMA. [1]

If your house is in a high-risk flood zone and you have a mortgage on the property, your lender will likely require you to purchase flood insurance. While it may seem like just another added expense, it's more important than ever to have flood insurance given the increased frequency and severity of flood events due to rising sea levels and climate change.

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Average flood insurance cost by state

Flood insurance rates are influenced by several factors specific to your property and policy, such as where you live, the amount of coverage in your policy, your deductible amount, and whether you're purchasing NFIP or private flood insurance.

Average flood insurance prices are anywhere from $700 to $1,500 per year, depending on your state and your home's proximity to the the coast or a major body of water. While the highest average premiums are mainly in New England, flood insurance costs are increasing the fastest in Texas, Louisiana, Florida, and other southern states.

State

Average annual cost

Difference from previous year (%)

Average building coverage amount

Average contents coverage amount

Alaska

$747

-15%

$231,051

$82,459

Alabama

$986

6%

$212,027

$72,253

Arkansas

$917

9%

$182,580

$66,752

Arizona

$852

14%

$219,752

$78,193

California

$859

7%

$237,933

$91,363

Colorado

$945

6%

$221,506

$81,685

Connecticut

$1,557

0%

$230,060

$80,517

District of Columbia

$721

-2%

$214,370

$81,844

Delaware

$1,077

4%

$234,931

$81,204

Florida

$964

9%

$226,767

$75,373

Georgia

$856

9%

$222,559

$81,406

Hawaii

$1,399

6%

$240,487

$87,130

Iowa

$819

2%

$171,929

$64,323

Idaho

$881

8%

$228,863

$85,600

Illinois

$1,026

1%

$185,357

$65,896

Indiana

$987

7%

$179,480

$65,078

Kansas

$858

6%

$170,216

$65,592

Kentucky

$1,057

6%

$155,817

$53,330

Louisiana

$856

11%

$211,586

$75,783

Massachusetts

$1,418

1%

$228,514

$79,007

Maryland

$855

-2%

$227,104

$81,129

Maine

$1,078

0%

$222,861

$79,907

Michigan

$886

0%

$191,235

$70,546

Minnesota

$823

3%

$202,957

$77,671

Missouri

$1,009

2%

$171,431

$61,579

Mississippi

$880

9%

$197,466

$71,962

Montana

$920

2%

$197,366

$75,044

North Carolina

$920

5%

$223,840

$72,259

North Dakota

$805

5%

$221,528

$86,741

Nebraska

$934

1%

$187,941

$67,676

New Hampshire

$1,017

-2%

$210,548

$74,089

New Jersey

$1,209

2%

$233,430

$67,543

New Mexico

$944

8%

$199,207

$71,264

Nevada

$805

5%

$224,903

$82,623

New York

$1,304

3%

$229,192

$79,380

Ohio

$937

3%

$171,153

$62,197

Oklahoma

$906

10%

$194,754

$72,743

Oregon

$921

4%

$228,110

$84,727

Pennsylvania

$1,030

4%

$172,028

$61,604

Rhode Island

$1,289

-4%

$227,571

$80,955

South Carolina

$852

2%

$236,792

$86,382

South Dakota

$924

6%

$193,069

$72,512

Tennessee

$875

8%

$209,210

$77,546

Texas

$843

17%

$221,728

$84,315

Utah

$716

3%

$219,500

$85,089

Virginia

$907

5%

$222,658

$75,434

Vermont

$1,059

2%

$199,773

$72,875

Washington

$930

4%

$225,801

$79,984

Wisconsin

$869

3%

$190,420

$71,330

West Virginia

$1,037

11%

$139,153

$48,183

Wyoming

$868

-3%

$220,208

$85,815

Collapse table

Source: Federal Emergency Management Agency policy data for 2022 and 2023

The cheapest states for flood insurance

With an average NFIP flood insurance rate of $716 per year, Utah has the cheapest flood insurance of any U.S. state. Rounding out the best states for cheap flood insurance are Alaska, North Dakota, Nevada, and Iowa.

  1. Utah: $716

  2. Alaska: $747

  3. North Dakota: $805

  4. Nevada: $805

  5. Iowa: $819

The most expensive states for flood insurance

Connecticut's average NFIP flood insurance price of $1,557 per year is the most expensive of any U.S. state, followed by Massachusetts, Hawaii, New York, and Rhode Island.

  1. Connecticut: $1,557

  2. Massachusetts: $1,418

  3. Hawaii: $1,399

  4. New York: $1,304

  5. Rhode Island: $1,289

Find the average cost of flood insurance in your state in 2023

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 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%

Collapse table

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.

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 oureditorial standards.

  1. The Federal Emergency Management Agency

    . "

    OpenFEMA Dataset: FIMA NFIP Redacted Policies - v1

    ." Accessed March 14, 2023.

  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

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.

Editor

Jennifer Gimbel is a senior managing editor and home insurance expert at Policygenius, where she oversees our homeowners insurance coverage. Previously, she was the managing editor at Finder.com and a content strategist at Babble.com.

Expert reviewer

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

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