What's the Cost of Flood Insurance?

Depending on where you live, those average rates can range from $427 per year in Alaska to $1,749 per year in West Virginia.

Flood insurance directly from private companies can be more expensive, but it can also offer better coverage than the National Flood Insurance Program (NFIP). Your flood insurance rates depend on several factors, including where you live, how close you are to a large body of water and your home's elevation and construction.

How much does flood insurance cost?

Those prices include coverage for your house and your personal belongings.

The government sells flood insurance through the National Flood Insurance Program. But you can also buy private flood insurance.

It's a good idea to shop around since private flood insurance could cost less than a similar NFIP flood insurance policy in some areas.

Cost of flood insurance by state

Average flood insurance rates are as low as $427 per year (in Alaska) and as high as $1,749 per year (in West Virginia). That's a difference of more than $1,300 per year. The gap in average National Flood Insurance Program flood insurance rates can reflect factors like the cost to rebuild homes, how often it floods and the amount of damage caused by a typical flood.

When buying flood insurance, how close you are to a large body of water, your home's elevation and how much it would cost to repair your house will all likely play a large role in determining your rate.

Do you need flood insurance?

You'll likely need flood insurance if you have a mortgage and live somewhere prone to flooding.

A Special Flood Hazard Area (SFHA) has a roughly 1 in 4 chance of flooding over a 30-year period. Mortgage lenders almost always require flood coverage in these areas, and it's usually a good idea to have coverage even if your house is paid off.

You can find out if you live in a high-risk flood zone by looking up your address on the FEMA Flood Map Service Center.

Even if you don't live in a high-risk zone, you should at least consider buying flood insurance. Roughly 29% of NFIP flood insurance claims are from areas that are not high risk.

Does homeowners insurance cover flood damage?

Insurance companies define flooding as floodwater covering at least two or more acres of normally dry land (or two or more properties). That needs to happen for your flood insurance to kick in.

Floods usually include water damage from overflowing river banks, flash floods and hurricanes, but not from flooding caused by a leaky pipe.

Homeowners insurance sometimes pays for water damage caused by a broken pipe or a backed-up sewer, although this is often an add-on coverage option. It may also cover rain damage. For example, if a storm breaks your window and rain gets in your home, your homeowners policy should pay to replace your carpets.

What does flood insurance cover?

Flood insurance covers damage to your home and the cost to replace or repair your stuff inside the house. FEMA flood insurance requires you to buy each policy separately. Many private flood insurance companies let you buy both coverage types together.

The average flood insurance payout between 2016 and 2022 was more than $66,000.

If you want higher coverage limits, consider buying a private flood insurance policy. Allstate, through its subsidiary National General, sells policies with up to $1.5 million in physical property coverage and up to $150,000 for temporary living costs like hotel or apartment stays.

If you have higher coverage needs, Chubb sells private flood insurance with policy limits of up to $15 million. Keep in mind that private flood insurance isn't as widely available as FEMA flood insurance.

Tips to save on flood insurance

The best way to save on flood insurance is to look at both the National Flood Insurance Program and private insurance coverage options. Rates for NFIP coverage will be locked in, so you can check if private flood insurance policies offer better rates or, more likely, better coverage.

But you can also make changes to your home or coverage to lower rates.

Elevate your home or add flood-resistant features

If you change your home to stand up better against flooding, you can potentially lower the rates you pay. The most dramatic choice can be elevating your house.

Houses in flood-prone areas often stand on columns with parking and storage on the first floor. This prevents floodwater from damaging the parts of your house that are lived in and the most expensive to repair.

If you elevate your home in this way, make sure to get a new version of what's called an "elevation certificate." You'll need to work with a surveyor, engineer or architect, and with a local floodplain management official.

Lower your coverage or raise your deductible

If you can afford to go with less coverage, you can pay a lower rate every year on your flood insurance. You might not need enough coverage to fully rebuild your home, as flooding often only damages part of the structure.

You could also raise your deductible, which you have to pay when you file a claim for flood damage. That means you'll pay more when you need to use your flood insurance, but you'll pay less each month.

Frequently asked questions

Methodology

The most recently available rate data and state-specific breakdowns came from the National Flood Insurance Program as of the end of 2025. Private flood insurance coverage limits came from the Nationwide and Chubb websites.

Other sources include the Department of Homeland Security and Floodsmart.gov.