Flood insurance data & statistics (Updated 2023)

Flooding is the most destructive and expensive natural disaster in the United States. It's also the most common. Nearly every corner of the country is susceptible or in close proximity to at least one major source of flood events — rivers, rainfall, storm surge, and tides — making flooding not just a possibility, but something that will inevitably happen where you live.

Given the expense and unpredictability of these events, home insurance policies eventually stopped covering flood damage altogether. If you weren't privy to this fact, you're not alone. In fact, over half of all U.S. homeowners aren't aware that homeowners insurance doesn't cover flooding. With billion-dollar flood events now occurring in the places you'd least expect — like Kentucky and Missouri — and the fact that a quarter of all insured flood losses occur to homes outside of high-risk flood zones, you should consider flood insurance regardless of your location.

12 facts about flooding and flood insurance

1. Just 1 inch of flood water can cause $25,000 in damages [1]

2. 99% of U.S. counties were affected by a flooding disaster from 1996 to 2019 [2]

3. 90% o​​f natural disasters in the U.S. involve flooding [3]

4. You’re 27 times more likely to experience a flood than a fire during a 30-year mortgage [4]

5. 25% of flood claims occur to homes outside of high-risk areas [5]

6. 53% of homeowners don’t realize that flood damage is not covered by standard home insurance policies [6]

7. Over 95% of flood insurance policies are purchased through the National Flood Insurance Program (NFIP) versus the private insurance market [7]

8. Only 1 in 10 homeowners have flood insurance through the NFIP [8]

9. Louisiana has the highest percentage of flood-insured homes — nearly 25% of homes are protected through the NFIP [9] [10]

10. Minnesota has the lowest percentage of flood-insured homes — just 0.33% have a flood insurance policy through the NFIP [11] [12]

11. As of 2023, the average annual NFIP flood insurance rate is $939 [13]

12. From 2016 to 2022, the average flood claim payout from the NFIP was $66,000 [14]

Learn more >> How to get flood insurance in 5 simple steps

NFIP flood insurance rates by state

The average cost of an NFIP flood insurance policy is $939, according to data provided by the National Flood Insurance Program. [15] However, how much you ultimately pay depends on the following factors:

• Your coverage amounts and type of coverage

• The age and build of your home

• Your home’s location and flood zone

Here’s a breakdown of how much homeowners paid on average in 2022, depending on what state they lived in.

State	Average annual cost	Average monthly cost
Alabama	$927	$77
Alaska	$454	$38
Arizona	$825	$69
Arkansas	$849	$71
California	$901	$75
Colorado	$860	$72
Connecticut	$1,590	$133
Delaware	$874	$73
Florida	$958	$80
Georgia	$791	$66
Hawaii	$1,437	$120
Idaho	$862	$72
Illinois	$1,039	$87
Indiana	$917	$76
Iowa	$867	$72
Kansas	$870	$73
Kentucky	$1,060	$88
Louisiana	$813	$68
Maine	$953	$79
Maryland	$608	$51
Massachusetts	$1,269	$106
Michigan	$811	$68
Minnesota	$943	$79
Mississippi	$858	$71
Missouri	$978	$82
Montana	$899	$75
Nebraska	$824	$69
Nevada	$715	$60
New Hampshire	$1,216	$101
New Jersey	$1,081	$90
New Mexico	$891	$74
New York	$1,184	$99
North Carolina	$791	$66
North Dakota	$798	$67
Ohio	$883	$74
Oklahoma	$876	$73
Oregon	$936	$78
Pennsylvania	$1,075	$90
Rhode Island	$1,062	$89
South Carolina	$798	$66
South Dakota	$937	$78
Tennessee	$887	$74
Texas	$776	$65
Utah	$645	$54
Vermont	$1,197	$100
Virginia	$743	$62
Washington	$918	$76
Washington, D.C.	$404	$34
West Virginia	$1,133	$94
Wisconsin	$878	$73
Wyoming	$907	$76

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Source: FEMA

Learn more >> How much does flood insurance cost in 2024?

Top 5 states with the cheapest flood insurance rates

With an average flood insurance rate of $716 per year, Utah has the cheapest flood insurance of any U.S. state. Alaska, North Dakota, Nevada, and Iowa are also among the most affordable states for flood insurance.

1. Utah: $716

2. Alaska: $747

3. North Dakota: $805

4. Nevada: $805

5. Iowa: $819

Top 5 states with the most expensive flood insurance rates

Connecticut's average NFIP flood insurance price of $1,557 per year is the most expensive of any U.S. state, followed by Massachusetts, Hawaii, New York, and Rhode Island.

1. Connecticut: $1,557

2. Massachusetts: $1,418

3. Hawaii: $1,399

4. New York: $1,304

5. Rhode Island: $1,289

NFIP flood insurance policies by state

We analyzed data from the National Flood Insurance Program [16] and the U.S. Census Bureau [17] to calculate the percentage of homes in each state with flood insurance policies through the NFIP.

State	Number of homes	Active NFIP policies	Insured homes
Alabama	2,288,330	52,278	2.28%
Alaska	326,200	2,200	0.67%
Arizona	3,082,000	26,402	0.86%
Arkansas	1,365,265	13,416	0.98%
California	14,392,140	203,929	1.42%
Colorado	2,491,404	18,424	0.74%
Connecticut	1,530,197	32,633	2.13%
Delaware	448,735	26,386	5.88%
District of Columbia	350,364	2,049	0.58%
Florida	9,865,350	1,714,008	17.37%
Georgia	4,410,956	79,545	1.8%
Hawaii	561,066	60,529	10.79%
Idaho	751,859	5,688	0.76%
Illinois	5,426,429	35,331	0.65%
Indiana	2,923,175	18,217	0.62%
Iowa	1,412,789	11,467	0.81%
Kansas	1,275,689	8,207	0.64%
Kentucky	1,994,323	19,078	0.96%
Louisiana	2,073,200	509,020	24.55%
Maine	739,072	7,450	1.01%
Maryland	2,530,844	64,563	2.55%
Massachusetts	2,998,537	56,020	1.87%
Michigan	4,570,173	19,903	0.44%
Minnesota	2,485,558	8,184	0.33%
Mississippi	1,319,945	60,997	4.62%
Missouri	2,786,621	18,231	0.65%
Montana	514,803	4,089	0.79%
Nebraska	844,278	8,424	1%
Nevada	1,281,018	10,190	0.8%
New Hampshire	638,795	7,424	1.16%
New Jersey	3,761,229	210,483	5.6%
New Mexico	940,859	10,914	1.16%
New York	8,488,066	165,633	1.95%
North Carolina	4,708,710	139,127	2.95%
North Dakota	370,642	8,255	2.23%
Ohio	5,242,524	26,655	0.51%
Oklahoma	1,746,807	11,576	0.66%
Oregon	1,813,747	24,394	1.34%
Pennsylvania	5,742,828	49,392	0.86%
Rhode Island	483,474	11,254	2.33%
South Carolina	2,344,963	206,573	8.81%
South Dakota	393,375	3,015	0.77%
Tennessee	3,031,605	27,148	0.90%
Texas	11,589,324	786,051	6.78%
Utah	1,151,414	3,932	0.34%
Vermont	334,318	3,219	0.96%
Virginia	3,618,247	100,739	2.78%
Washington	3,202,241	31,864	1%
West Virginia	855,635	12,490	1.46%
Wisconsin	2,727,726	11,798	0.43%
Wyoming	271,887	1,610	0.59%

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To calculate the percentage of owner-occupied homes in each state with flood insurance through the NFIP, we divided the number of active NFIP policies in each state as of 2023 by the total number of owner-occupied homes in that state, according to the U.S. Census Bureau.

Top 5 states with homeowners most prepared for flood disasters

We nailed down the states with the highest percentage of homes with flood insurance through the NFIP. 

Top 5 states with homeowners least prepared for a flood

Here are the top five states with the lowest percentage of homes with flood insurance through the NFIP.

NFIP flood insurance claims and total payouts by state

The average flood insurance claim payout through the NFIP was $44,401 in 2021. [18] Check out the table below to find out how many claims were filed in your state — and the average payout for the claims that were approved.

State	Total claims	Average claim payout
Alabama	563	$32,187
Alaska	11	$14,078
Arizona	160	$33,200
Arkansas	148	$ 36,195
California	79	$ 37,590
Colorado	51	$ 20,017
Connecticut	904	$ 25,738
Delaware	118	$ 15,276
District of Columbia	21	$ 6,994
Florida	4,288	$ 37,385
Georgia	598	$ 29,787
Hawaii	114	$ 36,106
Idaho	4	$ 1,984
Illinois	120	$ 16,004
Indiana	114	$ 42,566
Iowa	26	$ 38,248
Kansas	28	$ 25,152
Kentucky	730	$ 34,800
Louisiana	20,865	$ 60,344
Maine	5	$ 18,341
Maryland	192	$ 12,306
Massachusetts	207	$ 16,875
Michigan	330	$ 14,424
Minnesota	5	$ 16,559
Mississippi	1,609	$ 24,216
Missouri	148	$ 34,532
Montana	4	$ 0
Nebraska	16	$ 33,163
Nevada	38	$ 39,988
New Hampshire	22	$ 62,740
New Jersey	7,297	$ 37,990
New Mexico	55	$ 21,134
New York	3,793	$ 33,248
North Carolina	707	$ 40,724
North Dakota	5	$ 5,463
Ohio	193	$ 24,348
Oklahoma	76	$ 44,050
Oregon	37	$ 15,473
Pennsylvania	2,188	$ 33,042
Rhode Island	74	$ 24,992
South Carolina	256	$ 16,401
South Dakota	N/A	N/A
Tennessee	1,115	$ 51,241
Texas	2,357	$ 32,074
Utah	21	$ 21,465
Vermont	26	$ 28,669
Virginia	302	$ 13,278
Washington	70	$ 39,584
West Virginia	240	$ 29,075
Wisconsin	36	$ 9,441
Wyoming	2	$ 0

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Methodology

To calculate the average flood insurance claims payout through the NFIP in each state, we divided the total claims payments in each state by the number of claims that were filed and closed with payment in that same state. [19]  

The NFIP didn’t have data available for South Dakota as of December 2021, which is why we marked that state as N/A.

Top 10 cities most at risk of flooding

Not surprisingly, most of the top 10 cities at risk of flooding due to storm surge and hurricane-force winds can be found in coastal areas throughout Florida.

Here’s how it breaks down, according to CoreLogic data analyzed by the Insurance Information Institute. [20]

Rank	City	Homes at risk of storm surge	Homes at risk of hurricane-force winds
1.	New York, NY	781,823	3,378,397
2.	Miami, FL	738,994	1,997,608
3.	Tampa, FL	544,433	1,102,691
4.	New Orleans, LA	396,870	424,460
5.	Virginia Beach, VA	395,653	578,622
6.	Fort Meyers, FL	321,940	348,965
7.	Bradenton, FL	284,828	373,133
8.	Houston, TX	261,103	1,987,408
9.	Jacksonville, FL	220,301	548,161
10.	Naples, FL	197,265	201,314

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Methodology

To calculate the cities most at risk of flooding in the U.S., the Insurance Information Institute analyzed CoreLogic data of the number of homes located in areas at high risk of storm surge or hurricane-force winds. [21]

Average NFIP flood claims by year

Here’s the average flood claim payout per year up until 2018, according to FEMA. [22]

Year	Total NFIP policies	Average flood claim payout
2009	5,700,235	$25,133
2010	5,645,436	$26,529
2011	5,646,144	$31,053
2012	5,620,017	$62,674
2013	5,568,642	$27,185
2014	5,406,725	$29,459
2015	5,205,094	$39,861
2016	5,081,470	$62,247
2017	5,047,602	$91,735
2018	5,178,978	$42,580

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Top 10 most expensive flood catastrophes in the U.S.

Hurricane Katrina will go down as the most expensive flood catastrophe in terms of total claims paid out by the NFIP — causing $16,258 million of destruction. Meanwhile, Hurricane Harvey brought the highest cost of destruction per household — with homeowners averaging over $115,000 in payments per claim filed with the NFIP.

Check out all 10 of the most expensive flood catastrophes in the U.S. from 1978 to 2019 below. [23]

Rank	Flood catastrophe	Date	States affected	Total flood claims paid (in millions)	Average claim amount
1.	Hurricane Katrina	August 2005	AL, FL, GA, LA, MS, TN	$16,258	$97,474
2.	Hurricane Harvey	September 2017	AL, AR, FL, GA, KY, LA, MS, NC, TX	$8,909	$116,823
3.	Superstorm Sandy	October 2012	CT, DC, DE, MA, MD, ME, NC, NH, NJ, NY, OH, PA, RI, VA, VT, WV	$8,804	$66,517
4.	Hurricane Ike	September 2008	AR, IL, IN, KY, LA, MO, OH, PA, TX	$2,702	$57,866
5.	Louisiana severe storms	August 2016	LA	$2,468	$91,507
6.	Hurricane Ivan	September 2004	AL, DE, FL, GA, LA, MD, MS, NJ, NY, NC, OH, PA, TN, VA, WV	$1,608	$57,097
7.	Hurricane Irene	August 2011	CT, DC, DE, MA, MD, ME, NC, NH, NJ, NY, PA, RI, VA, VT	$1,346	$30,369
8.	Tropical Storm Allison	June 2011	FL, LA, MS, NJ, PA, TX	$1,105	$36,028
9.	Hurricane Irma	September 2017	FL, GA, SC	$1,054	$48,095
10.	Hurricane Matthew	October 2016	FL, GA, NC, SC, VA	$654	$39,455

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Learn more >> Which U.S. states have the most hurricanes?

Private flood insurance in the U.S.

The number of insurance companies writing private flood coverage has increased over the last few years — with 175 carriers selling private flood insurance in 2020. [24]

Learn more >> NFIP vs. private flood insurance companies

Why are more people getting private flood insurance? 

In the past, flood insurance was viewed as an untouchable risk. But thanks to technological advancements, flood events are more predictable, flood maps are more accurate than that of their FEMA counterparts, and it's now easier to assess the risk faced by each home.

Private flood insurance is also becoming more popular with homeowners since it can offer higher coverage limits than the NFIP, which currently caps coverage at $250,000. It also helps that the federal government ruled that regulated mortgage lenders must accept flood insurance policies from private insurers as long as they’re comparable to NFIP policies.

Learn more >> The best flood insurance companies of 2024

Largest private flood insurance companies

Here are the top writers of private flood insurance in the U.S. in 2020, according to data from the National Association of Insurance Commissioners (NAIC). [25]  

Insurance company	Total premiums written	Market share
Zurich	$98,749	13.8%
Assurant	$97,374	13.6%
AIG	$75,318	10.6%
AXA	$68,696	9.6%
Swiss Re	$67,471	9.5%
Arch Capital Group	$49,678	7%
Berkshire Hathaway	$41,417	5.8%
Liberty Mutual	$38,601	5.4%
Allstate	$35,584	5%
MAPFRE	$27,123	3.8%

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Methodology

The Insurance Information Institute analyzed NAIC data of direct premiums written in 2020 for both private residential and commercial coverage from private insurance companies. [26]

Direct premiums are the amount insurance companies make off of each individual insurance policy.

The table does not include FM Global, which reclassified private flood insurance as part of allied lines in 2019. FM Global had $300 million in direct premiums written for private flood insurance in 2018 — 43% of the total U.S. private flood market.