How much does flood insurance cost per year?

According to FEMA, the average flood insurance cost for a policy from the National Flood Insurance Program (NFIP) is approximately $700 annually. However, your price will vary based on your location, type of home, and other factors.

FEMA also states that if you qualify for federal disaster relief after a flood and you’re uninsured, you’re required to buy a flood insurance policy in order to get federal assistance in the future. Learn more about how flood insurance works.

Flood insurance cost factors

The cost of flood insurance is determined by several components, such as:

Coverage selection

Both the coverage type and amount of coverage can influence your rate.

Risk for flooding

Homes in high-risk flood zones may pay more for flood insurance than homes with moderate or low risk for flooding. Learn how base flood elevation works.

Age of construction of your home

Older properties may be more expensive to insure against flooding compared to homes built with more modern construction materials.

Cost to replace personal property

The value of the contents in your home, including furniture, antiques, appliances, and electronic items, affect the cost of flood insurance. Learn how you may protect your belongings with personal property coverage.

Deductible amount

The higher your deductible on your flood policy, the lower your premium.

Get flood insurance through Progressive

Safeguard your home and personal property against rising groundwater and potential flooding. Get a flood insurance quote and purchase online.