Nevada, if you live in a FEMA-designated high-risk flood zone—and these zones have been changing in recent years—you may be required to purchase separate flood insurance to comply with your mortgage lender’s coverage requirements.
Conventional homeowners insurance policies do not include
damage caused by flooding. Approximately 90% of all natural disasters in the US involve flooding, making it too risky for insurers to cover under a standard home insurance policy.
Despite the devastation flooding can cause, only 27% of US homeowners purchase flood insurance, according to the Insurance Information Institute. Many homeowners simply assume flooding is covered—which puts them at risk of having to pay thousands of dollars out of pocket if disaster strikes.
To help homeowners save the most money on insurance-related costs, the home and
auto insurance comparison app
Jerry has created your guide to flood insurance in Nevada, including how to know if this coverage is required or recommended in your area.
What is flood insurance?
Flood insurance is property insurance separate from home insurance that covers losses due to a natural disaster that causes flooding.
While a standard insurance policy typically covers water damage caused by plumbing failures, your house and belongings are not protected by a standard policy if they are damaged in a flood. This is why purchasing a separate flood insurance policy is recommended to most (if not all) homeowners.
What does flood insurance cover?
Flood insurance consists of two types of coverage: building coverage, which refers to the structure itself, and contents coverage, which includes your personal possessions.
Together, both coverages protect the house itself and property inside including appliances, flooring, furniture, electronics, jewelry or other valuables, and electrical and heating systems.
Flood insurance does not protect every object in your home or cover every source of flooding. For example, water damage not directly caused by large-scale flooding (which is defined as two or more acres or multiple properties) is not covered.
Similarly, property such as cash, vehicles, and items kept in basements—along with temporary living arrangements needed as a result of a flood—are not covered under flood insurance.
Here’s a more detailed breakdown of what’s covered (or not) under each type of insurance
Electrical and plumbing systems
Water heaters and furnaces
Large appliances like dishwashers or refrigerators
Permanently installed bookcases, cabinets, and paneling
Permanently installed carpets
Foundational walls, staircases, and anchorages
Fuel tanks, solar panels, and well water tanks/pumps
Decks and patios
Fences and landscaping
Washing machine and dryer
Portable air conditioners, including window units
Carpets not included in building coverage
Valuables such as artwork up to $2,500
Anything stored in a basement
Do you need flood insurance in Nevada?
You may need flood insurance in the Sagebrush State, depending on your mortgage type and location.
No federal or state law dictates that all homeowners in the state must purchase flood insurance. Instead, you’ll likely be required to purchase separate flood insurance in addition to your standard homeowners policy if you have a federally-backed mortgage on a house in a high-risk flood zone.
Although you can get flood insurance through the NFIP, your policy will actually be underwritten by a private company, such as
If it turns out that your home or property is not in a designated high-risk area, you can still choose to purchase flood insurance—it never hurts to have the extra protection, especially since over 40% of claims filed to the NFIP come from areas outside of high-risk flood zones.
To date, a mere 0.8% of Nevada homeowners carry flood insurance. With the risk of flash flooding common in the state, most Nevada homeowners would benefit from the added protection of flood insurance.
To buy an NFIP-approved flood insurance policy, you must reside in one of Nevada’s participating communities (here’s a
helpful list from FEMA). If you don’t see your hometown on this list, you can still purchase flood insurance through a private company such as Neptune or FloodSimple.
What flood zones require flood insurance in Nevada?
Federal flood insurance purchasing requirements apply to Nevada homeowners whose property lies in a flood zone with a letter grade starting with A or V. These zones are defined as having a 26% chance of flooding within 30 years.
If you live in a flood zone graded B, C, D, or X, flood insurance coverage isn’t required, but your flood risk isn’t nonexistent. You should consider purchasing flood insurance anyway.
Key Takeaway If you live in a high-risk flood zone (i.e., A or V) and have a government-backed mortgage, you will be required to carry flood insurance.
How much does flood insurance cost in Nevada?
The national average cost for flood insurance is $739 per year, and Nevada’s average flood insurance premium is just slightly higher at $772 a year, which comes out to $64 a month.
Fortunately, beginning April 2022, about 23% of flood insurance premiums nationwide will drop. A happy 21% of Nevada flood policyholders will see their rates decrease.
Approximately 73% of Nevadans who carry flood insurance will see their premiums increase up to $10 a month. Another 3% will see increases between $11 and $20 more per month, and the remaining 3% of policies will increase by more than $20.
The final cost of your flood insurance policy depends on multiple factors such as your location, the size, type, and age of the building or property you’re covering, and more.
Note that NFIP coverage for residential customers tops out at $250,000 for building coverage and $100,000 for contents coverage. Your policy may have one of various deductible limits as well.
How to save money on flood and auto insurance in Nevada
To reduce the cost of flood insurance premiums in Nevada, try one of these strategies:
While homeowners insurance doesn’t cover flooding to your house, the right car insurance coverage will help pay for a flooded vehicle. If you’re in the market for a new or better car insurance policy, just use the free broker app
Jerry partners with over 50 top insurance companies, which means you’ll have access to the best rates available in your area. If you ever have questions about the insurance shopping process, Jerry’s team of friendly and knowledgeable agents is only a text or call away.
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