The rate you pay for flood coverage is calculated based on the flood risk where you live, along with several other factors.
In this article
How much does flood insurance cost in Texas?
You can purchase flood insurance through the NFIP, which is part of FEMA. Flood insurance in Texas costs an average $59 a month. This is $14 a month cheaper than the national average. Your flood insurance quote is based on the following factors:
- Your home's flood zone
- Your home's age
- The design of your house
- The types of coverage purchased
- Your policy deductible
- Your property's elevation
The table below shows rates for flood insurance policies through the NFIP. These rates are set by the U.S. government.
| Flood zone | Average annual rate |
|---|---|
| A | $866 |
| AE | $961 |
| D | $1,969 |
| V | $286 |
| VE | $1,406 |
| X | $610 |
| Note: The cost of flood insurance in Special Flood Hazard Areas (SFHAs) was calculated using publicly available NFIP data. | |
- A Special Flood Hazard Area, or SFHA, is usually designated by the letters A or V. These are high-risk flood areas.
- Zone X is a minimal- to moderate-risk area.
- Zone D indicates areas where there are possible, but undetermined, flood risks.
You can find your area's risk of flooding by using FEMA's online tool.
Where to get flood insurance in Texas
Many homeowners in Texas find flood insurance through the NFIP. You can purchase flood insurance through a company that writes and services NFIP flood insurance policies. Here are some insurance companies that write NFIP policies in Texas:
- Assurant
- The Hartford
- Allstate
- USAA
- Farmers
- Homesite
Flood insurance rates are set by FEMA and are consistent across all insurers. There is also a small market for private flood insurance if you don't want NFIP flood insurance. Private flood insurance may provide higher coverage limits.
Private flood insurance vs. NFIP
A big advantage in getting private flood insurance is that you could get higher coverage limits. Flood insurance policies from FEMA have a maximum limit of $250,000 for building coverage and $100,000 for possessions.
Getting private flood insurance also allows you more opportunities to shop around and potentially find a lower rate. NFIP flood policies cost the same regardless of which company issues your policy.
On the flip side, private flood insurance may have limited availability in certain areas.
Do I need flood insurance in Texas?
You are required to have flood insurance if you live in a high-risk flood area and have a federally-backed mortgage. Mortgage lenders usually require you to carry flood insurance in such cases to protect their investment.
We recommend that homeowners have flood insurance even if it is not required by federal law or your mortgage lender. Standard home insurance does not cover damage from floods. That means without a flood insurance policy, your home is not fully protected.
Risk of flooding in Texas
Since Texas has a shoreline on the Gulf of Mexico, many homes there are at risk of flooding. According to Risk Factor, due to rising seas, about 18% of properties in Texas have greater than a 26% chance of being affected by flooding over the next three decades.
How can I pay less for flood insurance?
If you're looking to lower your flood insurance rate, you can take the following steps:
- Increasing your deductible can lower your premium. The higher your deductible, the lower your flood insurance rate will be. We recommend making sure you have the deductible amount readily available in the event of a claim.
- Providing an elevation certificate to your agent may help you lower your premium. An elevation certificate has information on the elevation of the lowest floor in your home, the characteristics of your home and the flood zone in which your home is located.
- Making some updates to your home may help you save on your premium. Elevating your home and utilities, installing flood openings and filling in your basement can lower your premium.
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