What is the average cost of homeowner's insurance in a flood zone?

I want to buy a home right on the Mississippi River that's on a flood plain. I'm worried about insurance costs. What's the average cost of home insurance in a flood zone?

“Flood coverage is a separate policy in addition to your home insurance. It’s only available if your community participates in the National Flood Insurance Program (NFIP) through FEMA.
You can purchase flood insurance directly through NFIP. You can also look into private insurers that offer policies through the Write Your Own Policy program.
Generally speaking, you should expect to pay about $700 a year on average. Flood insurance premiums are federally regulated, so the price could change depending on federal mandates.
Prices will vary depending on:
  • how often your area floods.
  • the type and amount of coverage purchased.
  • the deductible.
  • the design and age of your home.
  • the location of your home’s contents.
If you have both home insurance and car insurance through one insurance company, ask about flood insurance. You may be eligible for an additional multi-policy discount on your home and auto policies.
If you want help finding ways to save on flood and home insurance, try using the free Jerry app. Jerry compares rates from the top providers and delivers the best deals to your phone in minutes.”
Eric Schad
Answered on Sep 13, 2021
Eric Schad has been a freelance writer for nearly a decade, as well as an SEO specialist and editor for the past five years. Before getting behind the keyboard, he worked in the finance and music industries (the perfect combo). With a wide array of professional and personal experiences, he’s developed a knack for tone and branding across many different verticals. Away from the computer, Schad is a blues guitar shredder, crazed sports fan, and always down for a spontaneous trip anywhere around the globe.

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