How much does flood insurance cost?

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Flood insurance protects your home and possessions from flood damage caused by natural disasters. It’s sold separately from homeowners insurance, and the cost of flood insurance varies significantly from state to state.

The top 10 most significant flood events in the U.S. have all happened within the last 20 years, with the price tag for incurred damages reaching into the billions. Coastal regions commonly experience flooding at higher levels, but even landlocked states can be at risk.

As more Americans are forced to contend with the dangers of flood disasters, it’s important for homeowners to know the price of flood insurance in their home state. Wondering how much is flood insurance? Let’s walk through flood insurance costs in every state and see what factors affect the price of coverage.

Average cost of flood insurance by state

When it comes to flood insurance, homeowners in some states pay much more for their coverage than they would in other places. The frequency of flooding plays a big role in the cost. But other factors like age of the home and building materials also factor into how much a homeowner will have to pay for flood insurance.

Below is the average cost of flood insurance for each state. To find these averages, Bankrate relied on flood insurance premium data sourced from FEMA.gov.

State Average Cost of Flood Insurance
Alabama $686.71
Alaska $901.96
Arizona $665.99
Arkansas $847.08
California $805.83
Colorado $855.56
Connecticut $1,394.83
Delaware $724.06
Florida $723.61
Georgia $550.33
Hawaii $684.36
Idaho $672.64
Illinois $745.56
Indiana $1,045.22
Iowa $999.30
Kansas $1,044.54
Kentucky $881.65
Louisiana $970.54
Maine $664.43
Maryland $1,064.81
Massachusetts $572.91
Michigan $1,251.25
Minnesota $1,008.06
Mississippi $900.48
Missouri $694.75
Montana $1,070.76
Nebraska $704.11
Nevada $997.81
New Hampshire $720.91
New Jersey $1,060.08
New Mexico $960.79
New York $843.38
North Carolina $1,154.84
North Dakota $814.39
Ohio $676.52
Oklahoma $1,046.51
Oregon $856.08
Pennsylvania $888.66
Rhode Island $1,175.58
South Carolina $1,389.22
South Dakota $671.83
Tennessee $931.04
Texas $860.72
Utah $581.11
Vermont $653.78
Virginia $1,391.24
Washington $736.86
West Virginia $901.16
Wisconsin $1,104.16
Wyoming $973.44

The most expensive states for flood insurance

While most regions of the U.S. can experience some levels of flooding, coastal states are at the highest risk for flood damage. As you can see, 4 out of the 5 most expensive states for flood insurance are located along the Eastern Seaboard.

Due to the higher risk of flooding in coastal states, homeowners who live in these regions end up paying more for flood insurance than those located further inland. Of all the states in the Union, Connecticut homeowners can expect to pay the most for their flood coverage.

  1. Connecticut $1,394.83
  2. Virginia $1,391.24
  3. South Carolina $1,389.22
  4. Michigan $1,251.25
  5. Rhode Island $1,175.58

The least expensive states for flood insurance

Some states don’t see as much damage from floods. In these states, flood insurance is much more affordable. If you’re a homeowner looking for flood insurance, and you’re lucky enough to live in one of the states below, expect to pay a fraction of the premium cost you would in many other places around the U.S.

If you live in Georgia, you’ll have access to the cheapest average rates of flood insurance in the whole nation.

  1. Georgia $550.33
  2. Massachusetts $572.91
  3. Utah $581.11
  4. Vermont $653.78
  5. Maine $664.43

Factors that determine flood insurance cost

Insurance policies can be customized to fit the needs and financial situation of the homeowner, so the cost of flood insurance can change quite a bit from person to person. Let’s dive into the factors that affect the cost of flood insurance.

Flood risk

The first thing that determines the cost of flood insurance is the region where you live. Most places in the U.S. have at least some flood risk. But in places where flooding is more common, flood insurance costs more. To find how much of a risk flooding is in your area, check out FEMA’s flood maps for your region.

Home location

Where your home is located also plays a role in the cost of flood coverage. If your home is located on an elevation that could prevent flooding, you may receive a lower rate, even if you live in a region that’s prone to flooding.

Home age and construction

Flood insurance providers also pay close attention to how your home was constructed, as well as how old the home is. Older homes were built before modern construction materials and techniques were available and so could be at a higher risk for flooding.

Type of coverages

The types of coverages you want in your flood insurance policy will affect the cost. If you want more coverage, your policy will cost more. If you only want barebones coverage for a few things, you might be able to save money on your premiums.

Deductible and coverage limit

Insurance providers commonly allow policyholders to select the deductibles and coverage limits in their insurance policies. As a general rule of thumb, the lower the deductible and the higher the coverage limit, the more expensive your policy will be.

What does flood insurance cover

Flood insurance only covers flood damage from natural disasters. If a water pipe breaks in your home and floods the floor, your flood insurance policy won’t cover it.

Flood insurance doesn’t cover “preventable” damage from flooding either, such as mildew. So it’s important to pay close attention to what protections you receive from flood insurance.

According to the National Flood Insurance Program (NFIP), here’s what’s covered by flood insurance:

Building coverage:

  • Plumbing and electrical systems
  • Water heaters and furnaces
  • Cooking stoves, refrigerators and built-in appliances (like dishwashers)
  • Permanently installed carpeting
  • Permanently installed bookcases, cabinets and paneling
  • Window blinds
  • Foundation walls, anchorage systems and staircases.
  • Detached garages
  • Fuel tanks, well water tanks and pumps and solar energy equipment

Contents coverage:

  • Personal belongings such as furniture, electronic equipment and clothing
  • Curtains
  • Washer and dryer
  • Portable and window air conditioners
  • Microwave oven
  • Carpets not included in building coverage (e.g., carpet installed over wood floors)
  • Valuable items such as furs and original artwork (up to $2,500)

Keep in mind that these coverage details are from the policies offered by NFIP. Private flood insurance providers may have policy coverages that differ from what’s listed above.

Frequently asked questions

What is the best home insurance company?

Home insurance is highly specific to the individual needs of the homeowner. To find the best home insurance for your needs, we recommend shopping around for quotes from a few different providers. Check out our Best Home Insurance Companies to find a provider who’s good fit for you.

Does flood insurance cover sewage backup?

Flood insurance only covers flood damage from natural disasters. If your home receives flood damage from a sewage backup, your flood insurance will not cover the cost of fixing the damage.