How Much Does Flood Insurance Cost in my State?įlood insurance costs vary based on multiple factors, including where you live, the cost to replace your home and how much coverage you buy. Most homeowners with flood insurance buy it from the National Flood Insurance Program, but you may be able to purchase a policy in the private market.Ī flood insurance policy typically covers you for flooding related to torrential rains, storm surges, inland flooding, flash floods and other times when water may flood from outside your home. To get flood coverage, you need a separate flood insurance policy. Standard homeowners insurance does not cover flood damage that’s caused from water coming from outside the home’s foundation.Ī standard homeowners policy includes insurance for water damage if it’s caused by something like a sudden burst pipe, accidental leaks, ice dams and water from a roof leak. Does Homeowners Insurance Cover Flood Damage? An NFIP policy provides up to $250,000 of dwelling coverage and $100,000 for contents coverage. The average flood insurance cost increase under FEMA’s new pricing system (called Risk Rating 2.0) is 86%.įlood insurance costs an average of $859 a year from the NFIP.The cheapest state for flood insurance is Nevada ($593 per year) and the most expensive state for flood insurance is Connecticut ($1,491 per year).The average cost of flood insurance is $859 a year, according to FEMA.