How much does flood insurance cost?

Flood insurance premium costs depend on a variety of factors. In 2021, FEMA implemented a new risk rating methodology called Risk Rating 2.0: Equity in Action (RR2.0). Under RR2.0, while the average cost of flood insurance is still unknown, the maximum rate is $12,125 a year using the current methodology, although that could change in future years. In 2021, pre-RR2.0, the average annual cost for flood insurance was just under $1,000 per year. Learn more about flood insurance and Risk Rating 2.0 at FEMA.gov.