The average flood insurance cost in Georgia varies based on your location and individual property risks, like the ground elevation of your home and your proximity to flooding sources.
You can check a local flood map to see if your home is in one of Georgia’s high-risk flood zones. If you are in a moderate-risk or high-risk flood zone, it is wise to invest in flood insurance, especially since homeowners and renters insurance policies don’t cover natural flood damage. Estimates from the Federal Emergency Management Agency (FEMA) show that flood damage can cost up to $25,000 per inch of water.
TABLE OF CONTENTS
Residents in Georgia pay less for flood insurance than the national average.
Chattooga County is the most expensive location for flood insurance in Georgia, while Quitman County is the cheapest.
Lincoln County has had the fewest flood events in Georgia since 1996.
Average Cost of Flood Insurance in Georgia
The average flood insurance cost in Georgia is $732 per year. This rate is based on the state’s flood-prone areas along with individual property risks. Flood insurance costs can vary depending on your state and county, with those living in areas that are more flood-prone paying more for flood insurance.
Average Cost of Flood Insurance by County in Georgia
Compared to the national average, flood insurance costs in Georgia are cheaper. This could be because there are fewer flood-prone areas compared to other states.
The most expensive county for flood insurance in Georgia is Chattooga County, at an average of $5,985 annually, while the cheapest is Quitman County, at approximately $269 yearly.
You can compare the average flood insurance cost in Georgia by county in the table below.
Georgia Flood Insurance Cost Per County
Companies That Offer Flood Insurance in Georgia
You can buy flood insurance in Georgia from the NFIP or a private provider. Private providers may offer a base policy like the one offered by NFIP or an excess policy that adds supplemental coverage to a base policy.
Private providers may be the best option for you if your household is not in an NFIP community or if you find NFIP coverage insufficient.
Private Flood Insurance Providers in GA and Their Contact Numbers
Aon Private Flood
Hiscox - FloodPlus
FloodSimple Insurance Services
The NFIP also has partner insurance companies in Georgia that provide flood insurance. MoneyGeek compiled a list of NFIP-participating companies in Georgia in the table below.
NFIP-Participating Flood Insurance Providers in State and Their Contact Numbers
Allstate Insurance Company
American Family Mutual Ins. Co
American Nat. Prop. & Casualty
American Strategic Ins. Corp.
Auto Club South Insurance Co.
Auto Owners Insurance Co.
Refer to the Agent locator
Everett Cash Mutual Ins. Co.
How to Purchase Flood Insurance and Its Coverage Requirements
There are no special requirements to purchase flood insurance in Georgia. Call the NFIP through their hotline (877-336-2627) or contact your home insurance agent. Alternatively, you can research other providers.
It is best to get your policy as soon as possible since the NFIP has a 30-day waiting period. Private insurers may have waiting periods of up to 10 days. Talk to your insurance agent for more details.
What Does Flood Insurance Cover in Georgia?
When you purchase flood insurance, you will be protected in case floods cause damage to your building or its contents. Keep in mind that even an inch of water in your home can cause damages of up to $25,000.
A “flood” refers to a natural weather event. This means that your policy only covers water damage resulting from natural flooding, not burst or leaking pipes or other unnatural causes.
Your flood insurance policy will not cover damage to decks, patios, landscaping, swimming pools, cash, paperwork, basement items or vehicles. Comprehensive car insurance protects your car from flooding.
Flood Insurance Building Coverage
Building coverage is included in flood insurance to help cover the cost of flood damages to the physical structure of your home. You can purchase building coverage of up to $250,000 from the NFIP.
Your building coverage will cover:
- Foundation walls
- Electrical systems
- Plumbing systems
- Furnaces, central heating and air conditioning
- Built-in appliances
- Permanent carpets
- Built-in furniture
Flood Insurance Contents Coverage
If the contents in your home are damaged due to a flood, your flood insurance policy will pay for the damage under the contents coverage. The NFIP offers content coverage of up to $100,000.
Some of the contents included in this coverage include:
- Electronic equipment
- Washers and dryers
Factors That Affect Flood Insurance Costs in Georgia
Before October 2021, location was the only factor that determined flood insurance costs. You can look up the historical flood risk by state on FEMA’s website.
FEMA data indicates that Lincoln County has had the fewest flooding events (three since 1996), while Fulton County has had the most (72). Flood insurance costs an average of $813 yearly in Fulton compared to approximately $662 in Lincoln.
Fulton County is not the most expensive county in Georgia for flood insurance since county size is also a factor. Smaller states where flooding events are fewer but more concentrated may be more costly.
Risk Rating 2.0
FEMA introduced Risk Rating 2.0 in October 2021. This rating system allows fairer premiums for flood insurance by basing rates on individual property risks such as:
- Foundation type
- Dwelling structure
- Replacement and repair costs
- Frequency of flooding
- Proximity to bodies of water
Nevertheless, your location will still be a key factor in your flood insurance premiums.
MoneyGeek broke down the factors affecting the average flood insurance cost in Georgia.
Flood risk is now determined on an individual basis using Risk Rating 2.0, so rates can vary even between neighbors. However, premiums in high-risk flood areas will be higher compared to low-risk flood areas.
Buying more flood insurance coverage will cost more compared to lower coverage limits. Average coverage limits may vary depending on your state and county.
Flood insurance policies with high deductibles cost less in premiums. Deductibles can range from $1,000 to $10,000, but you will need to pay this amount when filing a claim.
Age of Structure
Newer structures may be less expensive to insure compared to older structures.
The design and materials used in the structure of your home can impact flood insurance rates.
Do You Need Flood Insurance in Georgia?
Flood insurance is a good investment since all properties are vulnerable to flooding. Government-backed mortgages and lenders require you to purchase flood insurance if you live in a high-risk flood area.
FEMA recommends getting flood insurance for added protection even in low or moderate-risk flood zones. Standard homeowners and renters insurance policies do not cover floods. Having flood insurance will give you peace of mind.
Flood insurance will pay claims without a presidential disaster declaration. You may get more from flood insurance than federal disaster assistance, which can be a loan or a grant of up to $5,000 per household.
Frequently Asked Questions About Georgia Flood Insurance
MoneyGeek answered commonly asked questions to help you learn more about flood insurance in Georgia.
About Mark Fitzpatrick
- FEMA. "Flood Insurance." Accessed August 22, 2022.
- FEMA. "Historical Flood Risk and Costs." Accessed August 22, 2022.