Although flood insurance is not mandated by California law, homeowners in many areas may be required to purchase coverage as required by mortgage lenders. Regardless of whether it’s a requirement for your lender, if you live in areas prone to flooding, it’s definitely something you should take into consideration. 

Here are some important details to note if you’re considering purchasing: 

Flood Insurance Cost

The first question people usually want to know: how much is flood insurance? In California, flood insurance costs average about $779 per year— that’s relatively low, when you consider the benefits of your coverage. 

Standard flood policies cover up to $250k maximum on the building and $100k on personal property. If you’re in a high-risk zone, you might want to purchase excess flood coverage, which would cover costs beyond the $250,000 and insure your property beyond the basic maximum. 

What Defines a “Flood”?

Floods are defined as a general and temporary condition of partial or complete inundation of two or more acres of normally dry land or of two or more properties from: 

  • Overflow of inland or tidal waters
  • Unusual and rapid accumulation or runoff of surface waters from any source 
  • Mudflow
  • Collapse or subsidence of land along the shore of a lake or similar body of water as a result of erosion or undermining caused by waves or currents of water exceeding anticipated cyclical levels that result in a flood as defined above. 

Your insurance will cover you under these conditions— many of which threaten California properties at a higher rate than other parts of the country. 

Is Flood Insurance Right for You? 

FEMA’s Flood Map Service Center is one way to determine your property’s flood risk. However, living in most coastal counties and even inland, flooding from dam breaks, storms and other natural disasters are always a possibility. The annual $779 flood insurance cost can save you hundreds of thousands of dollars in the long run. 

If you’re considering insurance or need help answering any questions about policies, companies, etc, please contact us today. 

NHC Insurance Services

NHC Insurance Services offers the best combination of coverage, value and price tailored specifically to your individual needs. We’re an independent insurance agency with access to a variety of highly-rated insurance providers with a wide selection of policy options. We cross-reference your needs and budget with the best available providers and policies to create a personalized insurance package for you. 

Request a flood insurance quote today.