Floods are the most common natural disaster in the United States. And they can be devastating: Just an inch or two of water damage can cause more than $25,000 in repairs and lost property.
Flood insurance is unique because most policies are sold and backed by the federal government. (Homeowners insurance generally doesn’t cover flood damage.)
But that valuable protection comes at a cost, roughly $752 on average nationwide in 2022. Many policyholders have seen their flood insurance premiums rise following a FEMA risk rating system rolled out in December 2021.
Here’s how much flood insurance costs now along with
