Living near water comes with beautiful views, but also the risk of flooding. And with climate change increasing those risks, flood insurance is becoming less of a 'maybe' and more of a 'must-have'. But what's the average cost of flood insurance for homeowners?
The honest answer? It varies. A lot. Factors influencing the premium include your home's location (flood zone!), elevation, construction type, and coverage amount. Nationally, you might see averages hovering around $700-$1200 per year. However, coastal properties or those in high-risk zones can easily exceed this.
Importantly, your homeowner's policy *doesn't* usually cover flood damage. Flood insurance is a separate policy, often obtained through the National Flood Insurance Program (NFIP) or private insurers. Don't wait for a flood warning to start looking. Get quotes from multiple sources and understand your flood risk today. Protecting your biggest investment is worth it!
