Basic homeowners insurance policies will not cover damages resulting from flooding. Around 90% of natural disasters in the U.S. involve flooding, which generally affects multiple properties at the same time, making it too big of a threat to be covered by a standard homeowners insurance policy.

The

Insurance Information Institute (III)

conducted a study in 2020 that found only 27% of homeowners in the U.S. have flood insurance. Unfortunately, many people either think they don’t need it or that their home insurance covers flooding—and only find out otherwise when it’s too late.

Weather patterns are becoming more erratic and severe, so it’s more important than ever to understand your state’s requirements on flood insurance. Home and

car insurance

super app

Jerry

put together this guide to flood insurance in Arizona, where 13% of all properties are at risk for flooding.

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What is flood insurance?

Flood insurance is a kind of insurance specially designed to cover financial losses stemming from water damage caused by flooding.

Your standard homeowners insurance policy will not cover your belongings or home structure if they are damaged in a flood. Water damage caused by certain perils, like plumbing failures, is covered, but flood damage is not. This is why purchasing a separate flood insurance policy is so important!

What does flood insurance cover?

Flood insurance is divided into two sections: contents coverage, which covers your personal belongings, and building coverage, which covers the structure of the home itself.

Combined, these two coverages financially protect jewelry, furniture, electronics, electric and heating systems, carpet, appliances, and more.

Remember: flood insurance doesn’t cover every item in your home—or every kind of flooding there is. Sewer backups that were not a result of large-scale flooding (meaning two or more acres or multiple properties), personal property stored in basements, money, cars, or additional living expenses will not be covered by flood insurance.

Take a look at this chart for a more in-depth breakdown of what is and isn’t covered by the different kinds of insurance:

Type of coverage	What it covers	What it doesn’t cover
Building	Electrical and plumbing systems Water heaters and furnaces Large appliances like dishwashers or refrigerators Permanently installed bookcases, cabinets, and paneling Permanently installed carpets Window blinds Foundational walls, staircases, and anchorages Detached garages Fuel tanks, solar panels, and well water tanks/pumps	Decks and patios Swimming pools Fences and landscaping
Contents	Clothing Furniture Electronic equipment Curtains Washing machine and dryer Portable air conditioners, including window units Carpets not included in building coverage Valuables such as artwork up to $2,500	Valuable papers Currency Anything stored in a basement

MORE:

Does renters insurance cover flood damage?

Do you need flood insurance in Arizona?

If you want the shortest answer possible: perhaps.

There isn’t a law on the federal or state level that requires homeowners to have a flood insurance policy. However, if you want to get a federally-backed mortgage on a home located in a high-risk flooding zone, you’ll be required to purchase flood insurance.

Your mortgage lender will most likely require you to have a flood insurance policy if you live in an area at moderate-to-high risk for flooding.

The

National Flood Insurance Program (NFIP)

, which is overseen by FEMA, offers flood insurance based on risk level to homeowners. The NFIP manages flood insurance for homeowners, but the actual policies come from private insurance companies like

Farmers

Insurance.

A mandate from your mortgage lender isn’t necessary to buy flood insurance—you do not even have to be in a FEMA-designated high-risk flooding zone. Anyone can buy a flood insurance policy if they choose to, and it’s especially a good idea if you’re in one of the 62,351 properties in

Phoenix

alone at risk for flooding.

Homeowners outside of FEMA’s designated high-risk flooding zones file over 40% of NFIP claims.

If you want to buy a flood insurance policy backed by the NFIP, you have to live in one of Arizona’s participating communities (check with this

list

from FEMA). You can still buy flood insurance if your city or town isn’t on FEMA’s list—you’ll just need to go through a private insurance company instead.

What flood zones require flood insurance in Arizona?

Arizona follows the guidelines of the NFIP. You can determine your home’s risk level on their website, and if you’re in a high enough risk zone your mortgage lender will require you to have flood insurance. Typically, this includes flood zones starting with an A or V.

You can use FEMA’s handy

Flood Map Service Center

Flood Factor®

tools to determine your home’s flood risk level.

Key Takeaway You will be required to buy flood insurance if you live in a FEMA-designated high-risk zone and have a federally-backed mortgage.

How much does flood insurance cost in Arizona?

The U.S. national average price of flood insurance is $739 per year, and Arizona’s average price falls just shy of that mark at $720 per year.

In October 2021, the NFIP decided to implement a new methodology for pricing flood insurance called Risk Rating 2.0. Around 23% of flood insurance premiums across the country will decrease as of April 2022, but 68% of Arizona policies are expected to rise to $10 per month.

The precise cost of your flood insurance premium will depend on a few things: size and building type, location, age of the property, and more. Residential flood insurance customers have coverage limits of $100,000 for contents coverage and $250,000 for building coverage. Your insurance company might also set a deductible limit.

MORE: How to prevent a flooded basement

How to save money on flood and auto insurance in Arizona

Want to lower the price of flood insurance in Arizona? Try these options:

Follow FEMA’s

Provide your insurance agent with an

elevation certificate

Pick contents-only coverage

Pick a higher deductible

Keep in mind that your flood insurance will not cover any damage to a vehicle. To make sure your car is covered during a flood, download the

Jerry

app today. After you enter your information, Jerry compares affordable quotes from over 50 top-rated insurance companies in 45 seconds to find you the best deals.

Jerry users save an average of $887 per year on

car insurance

premiums—which is more than the average yearly cost of flood insurance in Arizona!

“
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got me insured through Allstate with $100 of savings each month compared to my previous insurance. The customer service was excellent, and they even detected an error my previous insurer didn’t!” —Warren H.

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