How Much Does Flood Insurance Cost?

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Q: How much does flood insurance cost?

A: There’s no clear-cut answer to this question. There are a few factors that will determine the cost of your flood insurance including:

  • Location: If you live in a high-risk flood zone, the cost of coverage will understandably be higher. If you live in a low-risk flood zone, the cost will likely be a lot less.
  • Type of coverage: Flood policies can cover buildings, personal belongings, or both. If you opt for more coverage, the cost of your policy will understandably be more expensive.

That being said, the cost of your policy could be high if you live in a high-risk area and opt for comprehensive coverage of all property or low if you live in a low-risk area and just pay for personal belonging coverage. However, it’s worth noting that the national average premium is below $1,000 for a flood policy, even in high-risk areas.

If you want an accurate range of flood insurance policy options, talk to your independent agent. This is the best way to determine the coverage you need or want as well as various pricing options for the scope of coverage you desire. 

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