The average cost of flood insurance in New York is $109 per month through the NFIP, the federal government program that provides most flood insurance policies in the U.S. Meanwhile, private flood insurance costs around $118 per month in New York.
Looking at the 50 New York towns and cities with the most NFIP policyholders, average flood insurance costs are as high as $2,636 in Ocean Beach, a village with an extreme risk of flooding over the next 30 years; and as low as $609 per year in Massapequa Park, a town with a minor risk of flooding, according to Risk Factor.
Here’s a look at the average cost of flood insurance in New York cities with at least one active FEMA flood insurance policy.
Methodology and why you can trust our rates
Policygenius has analyzed home insurance rates provided by Quadrant Information Services in March 2022 for ZIP codes in all 50 states plus Washington, D.C., for a 40-year-old female homeowner with no claim history, good credit, a $1,000 deductible, and the following coverage limits:
Dwelling: $300,000
Other structures: $30,000
Personal property: $150,000
Loss of use: $60,000
Liability: $300,000
Medical: $1,000
All rates based on the above coverage limits except where otherwise noted.
Some carriers may be represented by affiliates or subsidiaries. Rates provided are a sample of costs. Your actual quotes may differ.
Your flood insurance costs are generally calculated based on the following factors:
Where you live
Your home’s elevation and construction type
The amount of coverage in your policy
Policy deductible amount
In addition to the above factors, the amount you pay for flood insurance will also depend on how your flood insurance provider calculates your rates.
10 cheapest New York cities for flood insurance
Of the 50 cities and towns with the most active flood insurance policies in the state, we found that these ones have the cheapest flood insurance on average in New York.
City | Average annual cost |
Massapequa Park | $609 |
Shelter Island | $783 |
Amherst | $815 |
Huntington | $829 |
Lawrence | $867 |
Vestal | $870 |
North Hempstead | $936 |
Johnson City | $938 |
Islip | $994 |
Union | $1,012 |
10 most expensive New York cities for flood insurance
Of the 50 cities and towns with the most active flood insurance policies in New York, we found that these are the most expensive on average for flood insurance.
City | Average annual cost |
Ocean Beach | $2,636 |
Larchmont | $2,461 |
Rye | $2,294 |
Yonkers | $2,215 |
Troy | $2,183 |
Quogue | $2,153 |
Westhampton Beach | $2,111 |
Bayville | $2,075 |
Owego | $1,931 |
Saltaire | $1,901 |
Flood insurance rates by flood zone in New York
Flood insurance rates in New York will generally vary depending on where you live and whether or not your house is in a FEMA flood zone, which it determines based on the likelihood of flooding over a period of time.
Any A or V zone, for example, has at least a 1% chance of flooding during any given year. Also referred to as a 100-year flood plain, these areas have the highest flood risk, according to FEMA flood maps.
Here are the average flood insurance rates in areas with a high risk, moderate to low risk, and undetermined risk, according to an analysis of NFIP premium data.
Flood zone | Average annual cost |
High risk (A or V) | $2,019 |
Moderate to low risk (B, C, or X) | $671 |
Undetermined risk (D) | $923 |
Our insurance experts at Policygenius can help you find the right flood insurance for your needs at the best possible rate.
How do FEMA and the NFIP set flood insurance rates?
FEMA recently implemented the National Flood Insurance Program's (NFIP) pricing approach. Effective April 1, 2023, this approach uses industry best practices and cutting-edge technology to set flood insurance rates so they more appropriately reflect a property’s flood risk.
Most of these changes are designed to create a more equitable division of premiums across all policyholders. Here are some examples of the changes they made to improve flood insurance pricing:
NFIP’s pricing approach allows FEMA to set fairer rates and uses up-to-date actuarial principles based upon new technology.
FEMA is addressing rating disparities by using a wider variety of flood risk variables, including flood frequency, distance to a water source, elevation, cost to rebuild, and what type of flood you are likely to experience, including river overflow, storm surge, coastal erosion and heavy rainfall.
Some of the previous considerations for FEMA’s flood insurance rate stayed the same, like those listed below:
Most flood insurance rates cannot not increase more than 18% per year.
Discounts are still available for pre-FIRM subsidized and newly mapped properties.
Policyholders are allowed to transfer their discount by assigning their flood insurance policy to the new owner when selling their home.
Communities can continue earning National Flood Insurance Program rate discounts of 5% - 45% based on the Community Rating System classification.
