Everything You Need to Know About Flood Insurance in Wyoming

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If your Wyoming home is in a flood zone that FEMA considers high-risk, your mortgage lender might require you to purchase flood insurance.
Flooding can occur anywhere—and since it’s such a common disaster, most home insurance policies exclude damage from flooding. Many homeowners realize too late that they need to purchase a separate flood insurance policy to protect their property. 
No matter where you live, it’s vital to understand how flood insurance works and what your level of flood risk is. That’s why home and auto insurance comparison app Jerry is here to give you the rundown on flood insurance in Wyoming.
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What is flood insurance?

Flood insurance is a type of property insurance that provides financial protection against losses and damage caused by external flooding
A standard homeowners insurance policy might provide protection against water damage due to covered perils, like a burst pipe, but when it comes to flooding from sources outside your home, you usually have to purchase a separate flood insurance policy.

What does flood insurance cover?

There are two types of flood insurance coverage: building coverage and contents coverage. Building coverage will protect your home itself, while contents coverage covers your personal belongings.
These two coverages combined can help protect your furniture, valuables, furnaces, appliances, carpets, electrical and plumbing systems, and more. 
You’ll be reimbursed for an amount exceeding your deductible and below your policy limit, which is often $250,000 for building coverage and $100,000 for contents coverage.
Unfortunately, flood insurance won’t cover everything. Specifically, items kept in basements, currency, and vehicles won’t get coverage from a flood insurance policy (the right car insurance can protect your vehicle against flooding).
Not every kind of flood will be covered, either. Only damage due to large-scale flooding that covers two or more normally dry acres or two or more properties will be eligible for flood insurance payouts. (This means that a sump pump failure in your basement won’t be covered.)
Here are some flooding events that could warrant coverage:
  • Unusual and/or rapid surface water accumulation or runoff from a source
  • Overflow of inland or tidal waters
  • Mudflows
  • Collapse of land along a shoreline due to erosion caused by waves or water currents exceeding expected levels
Here’s a more in-depth look at what is and isn’t covered by flood insurance:
Type of coverageWhat it coversWhat it doesn’t cover
BuildingDetached garages Water heaters and furnaces Refrigerators, dishwashers, and other large appliances Electrical and plumbing systems Permanently installed bookcases, cabinets, and paneling Permanently installed carpets Window blinds Foundation walls, staircases, anchorage systems Fuel tanks Solar panels Well water tanks/pumpsDecks and patios Hot tubs, swimming pools Fences, landscaping
ContentsClothing Furniture Electronics Curtains Washing machines, dryers Portable and window air conditioners Carpets not included in building coverage Valuables like jewelry or artwork up to $2,500Valuable papers Currency Precious metals Items kept in a basement

Do you need flood insurance in Wyoming?

While there’s no legal requirement for you to have a flood insurance policy in Wyoming, your mortgage lender might require you to have one if you live in a high-risk area.
Typically, homeowners with a federally-backed mortgage and a property in a moderate- to high-risk flood zone will be required to purchase coverage. Private lenders may also require borrowers to take out flood insurance policies in high-risk situations.
Over the next 30 years, the overall flood risk in Wyoming is expected to increase by 5.7%, with a total of 37,200 properties at risk of significant flooding by 2050. 
Casper is the Wyoming city with the highest risk with 4,718 properties, or 19% of its total properties, especially vulnerable to flooding. Jackson has the greatest proportion of properties at risk with 34% (1,812 properties), which is expected to grow to 38% by 2050 around (2,036 properties). 
Even if flood insurance isn’t required for you, you should still consider investing in a policy. Flooding can happen anywhere, and over 40% of claims submitted to the National Flood Insurance Program (NFIP) come from low- or moderate-risk zones. 
You can find flood insurance policies through the NFIP or a private provider. 
If you’re looking to purchase an NFIP-backed flood insurance policy in Wyoming, you’ll need to live in a participating community (you can review FEMA’s list here). 
If you don’t live in a participating community, you can still search for policies through private companies like Neptune.

What flood zones require flood insurance in Wyoming?

Whether a mortgage lender requires you to have flood insurance in Wyoming will vary depending on what kind of flood zone you live in. If you’re not sure of your area’s risk, you can check using FEMA’s Flood Map Service Center or Flood Factor®
If your Wyoming property lies within a high-risk flood zone—which will begin with the letter A or V—a federally-backed mortgage will require that you purchase a flood insurance policy. Properties in high-risk areas have a 26% chance of flooding within 30 years.
Flood zones beginning with B, C, D, or X will have a lower risk of flooding, and you wouldn’t be required to purchase flood insurance with a federally-backed mortgage. 
However, flooding can still be a possibility no matter where you live, so that doesn’t mean you shouldn’t consider a policy. 
Key Takeaway While having flood insurance isn’t a legal requirement in Wyoming, you might have to purchase a policy to satisfy your mortgage lender’s requirements if you live in a high-risk flood zone.

How much does flood insurance cost in Wyoming?

The average cost of a flood insurance policy in Wyoming is about $1,017 per year, or $85 per month, which is a little more than the national average of about $958 per year.
Like your home insurance policy, how much your flood insurance policy will cost varies on a number of factors, like where you live, the level of flood risk, the size and age of your home, rebuilding costs, and so on. 
Flood insurance prices are set to change in the coming months thanks to Risk Rating 2.0, FEMA’s new pricing system. New policies have been priced using the updated methodology since October 2021, and changes for existing policies will go into effect upon renewal dates on and after April 2022.
What does this mean for you? In Wyoming, 30.3% of single-family home policyholders are expected to see a decrease in their premiums, while 63.5% are expected to see an increase of $10 or less per month.

How to save money on flood and auto insurance in Wyoming

While flood insurance can provide vital protection for your home and many of your belongings, your car insurance policy will be responsible for protecting your vehicle in a flood.
Need a better car insurance policy? The Jerry app can help you find one! After downloading the app, you can review competitive quotes from dozens of top insurance providers to find the right amount of coverage for you at the right price. You can even bundle with your home insurance for additional savings!
Once you find the right policy, Jerry’s end-to-end support can help you with setting up that new policy and canceling your old one.
Getting started takes less than a minute, and on average, Jerry users save $887 a year on car insurance!
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