How Much Is Flood Insurance in Indiana? Average Flood Insurance Cost and Coverage


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Updated: May 22, 2024

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Having a homeowners or renters insurance policy may not be enough to protect your property from all types of flooding. Flood damage is a common peril not automatically covered in your standard policy. The cost of flood insurance is determined by your location and individual property risk, including the age and structure of your building and coverage types.

Having multiple high-risk flood zones, flood insurance cost in Indiana is significantly higher than average. According to the Federal Emergency Management Agency (FEMA), flood damages can easily cost more than $25,000 per inch of water. Purchasing flood insurance is highly recommended.

Indiana has multiple high-risk flood zones, emphasizing the importance of getting flood insurance.

Gibson Country has had the most flood events in Indiana since 1996.

Cook County is the least expensive area in Indiana to get flood insurance, while Henderson County is the most expensive.

Average Cost of Flood Insurance in Indiana

The average cost of flood insurance in Indiana is $1,142 per year. The cost of insurance varies according to individual property risks and your proximity to a flood zone. Residents living in or near flood-prone areas can expect to pay higher premiums than those who live in lower-risk areas.

Average Cost of Flood Insurance by County in Indiana

Given the state’s geographic location, Indiana is susceptible to severe flooding. Flood insurance costs in Indiana are approximately $375 more expensive than the national average.

MoneyGeek found that those living in Henderson County tend to pay the highest monthly premiums at around $4,856 per year. Cook County pays the cheapest rates at around $338 per year. The table below shows how much flood insurance costs in Indiana by county.

Indiana Flood Insurance Cost per County
ADAMS COUNTYAverage Cost$1,262
ALLEN COUNTYAverage Cost$1,719
BARTHOLOMEW COUNTYAverage Cost$1,180
BENTON COUNTYAverage Cost$519
BLACKFORD COUNTYAverage Cost$899
BOONE COUNTYAverage Cost$1,187
BROWN COUNTYAverage Cost$1,177
CARROLL COUNTYAverage Cost$1,052
CASS COUNTYAverage Cost$813
CLARK COUNTYAverage Cost$991
CLAY COUNTYAverage Cost$935
CLINTON COUNTYAverage Cost$721
COOK COUNTYAverage Cost$338
CRAWFORD COUNTYAverage Cost$968
DAVIESS COUNTYAverage Cost$648
DEARBORN COUNTYAverage Cost$2,142
DECATUR COUNTYAverage Cost$1,132
DE KALB COUNTYAverage Cost$1,902
DELAWARE COUNTYAverage Cost$1,120
DUBOIS COUNTYAverage Cost$1,521
ELKHART COUNTYAverage Cost$1,303
FAYETTE COUNTYAverage Cost$894
FLOYD COUNTYAverage Cost$1,655
FOUNTAIN COUNTYAverage Cost$512
FRANKLIN COUNTYAverage Cost$1,081
FULTON COUNTYAverage Cost$1,069
GIBSON COUNTYAverage Cost$974
GRANT COUNTYAverage Cost$1,018
GREENE COUNTYAverage Cost$989
HAMILTON COUNTYAverage Cost$858
HANCOCK COUNTYAverage Cost$1,139
HARRISON COUNTYAverage Cost$1,448
HENDERSON COUNTYAverage Cost$4,856
HENDRICKS COUNTYAverage Cost$740
HENRY COUNTYAverage Cost$1,095
HOWARD COUNTYAverage Cost$1,864
HUNTINGTON COUNTYAverage Cost$750
JACKSON COUNTYAverage Cost$944
JASPER COUNTYAverage Cost$840
JAY COUNTYAverage Cost$1,867
JEFFERSON COUNTYAverage Cost$1,298
JENNINGS COUNTYAverage Cost$859
JOHNSON COUNTYAverage Cost$1,018
KNOX COUNTYAverage Cost$1,212
KOSCIUSKO COUNTYAverage Cost$955
LAGRANGE COUNTYAverage Cost$948
LAKE COUNTYAverage Cost$1,115
LA PORTE COUNTYAverage Cost$1,011
LAWRENCE COUNTYAverage Cost$962
MADISON COUNTYAverage Cost$960
MARION COUNTYAverage Cost$1,299
MARSHALL COUNTYAverage Cost$1,190
MARTIN COUNTYAverage Cost$1,375
MIAMI COUNTYAverage Cost$858
MONROE COUNTYAverage Cost$1,035
MONTGOMERY COUNTYAverage Cost$1,024
MORGAN COUNTYAverage Cost$1,337
NEWTON COUNTYAverage Cost$952
NOBLE COUNTYAverage Cost$855
OHIO COUNTYAverage Cost$951
ORANGE COUNTYAverage Cost$2,257
OWEN COUNTYAverage Cost$1,144
PARKE COUNTYAverage Cost$700
PERRY COUNTYAverage Cost$910
PIKE COUNTYAverage Cost$1,080
PORTER COUNTYAverage Cost$891
POSEY COUNTYAverage Cost$1,022
PULASKI COUNTYAverage Cost$892
PUTNAM COUNTYAverage Cost$928
RANDOLPH COUNTYAverage Cost$772
RIPLEY COUNTYAverage Cost$987
RUSH COUNTYAverage Cost$905
SCOTT COUNTYAverage Cost$782
SHELBY COUNTYAverage Cost$1,082
SPENCER COUNTYAverage Cost$818
STARKE COUNTYAverage Cost$841
STEUBEN COUNTYAverage Cost$964
ST. JOSEPH COUNTYAverage Cost$1,187
SULLIVAN COUNTYAverage Cost$448
SWITZERLAND COUNTYAverage Cost$903
TIPPECANOE COUNTYAverage Cost$872
TIPTON COUNTYAverage Cost$1,189
UNION COUNTYAverage Cost$690
VANDERBURGH COUNTYAverage Cost$1,047
VERMILLION COUNTYAverage Cost$902
VIGO COUNTYAverage Cost$939
WABASH COUNTYAverage Cost$1,690
WARREN COUNTYAverage Cost$775
WARRICK COUNTYAverage Cost$922
WASHINGTON COUNTYAverage Cost$1,474
WAYNE COUNTYAverage Cost$1,111
WELLS COUNTYAverage Cost$848
WHITE COUNTYAverage Cost$1,049
WHITLEY COUNTYAverage Cost$908

Companies That Offer Flood Insurance in Indiana

Indiana residents can get flood insurance from the NFIP or private insurance companies. The NFIP offers a base policy, whereas private insurers offer a base policy as well as an excess policy. This is supplemental coverage for a base policy.

You may opt for private insurance if you need more coverage than what an NFIP policy offers or if you are located outside an NFIP community.

Private Flood Insurance Providers in IN and Their Contact Numbers
Company
Contact

Neptune Flood

727-202-4815

Aon Private Flood

888-281-0684

Hiscox - FloodPlus

866-283-7545

FloodSimple Insurance Services

844-803-8788

Chubb

866-324-8222

The NFIP also has partner insurance companies in Indiana that offer flood insurance. In the table below, MoneyGeek listed all the NFIP-participating insurance providers and their respective contact numbers.

NFIP-Participating Flood Insurance Providers in State and Their Contact Numbers
Company
Contact

Allstate Insurance Company

(800) 527-2634

American Commerce Ins. Co.

(800) 562-4517

American Family Mutual Ins. Co

(800) 692-6326

American Nat. Prop. & Casualty

(417) 887-4990

Assurant

(800) 423-4403

Auto Owners Insurance Co.

Refer to the Agent locator

Everett Cash Mutual Ins. Co.

(800) 326-4968

Farmers Insurance Group

(866) 865-2965

How to Purchase Flood Insurance and Its Coverage Requirements

Purchasing flood insurance in Indiana is simple. There are no special requirements. Call the NFIP Hotline (877-336-2627) or your home insurance agent to get started.

Flood insurance can be purchased from the NFIP, your home insurance provider or another insurer. Plan ahead since there is a 30-day waiting period for NFIP and a 10-day waiting period for private insurers before coverage starts. However, you should verify this with your provider.

What Does Flood Insurance Cover in Indiana?

Flood insurance in Indiana covers a building structure and its contents. Even an inch of water entering your home can cause around $25,000 worth of damage.

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“Flood” refers to water damage that results from a natural phenomenon or weather event. It does not include damage caused by broken pipes, leaking appliances and other unnatural events.

Basic flood insurance does not cover damages to swimming pools, decks, patios, landscaping, cash and paperwork, vehicles and basement items.

Flood Insurance Building Coverage

The physical structure of your home is protected by your building coverage as long as damage resulted from a covered peril. It covers the following:

  • Foundation walls
  • Electrical systems
  • Plumbing systems
  • Furnaces, central heating and air conditioning
  • Built-in appliances
  • Permanent carpets
  • Built-in furniture

You can purchase up to $250,000 worth of coverage through the NFIP.

Flood Insurance Contents Coverage

Your personal belongings are protected against damages from a covered peril. Your contents coverage includes damages to:

  • Clothing
  • Furniture
  • Electronic equipment
  • Washers and dryers
  • Artwork

You can purchase up to $100,000 worth of content coverage.

Factors That Affect Flood Insurance Costs in Indiana

Flood insurance costs were only previously calculated based on your general location. FEMA has an interactive map that shows the flood risk of U.S. counties by state.

According to FEMA’s Indiana data on flooding events since 1996, Gibson Country has had the most (209). By contrast, Pulaski, Starke and LaGrange counties have had the least flooding (six).

The average annual cost of flood insurance in Gibson county is $974, whereas the average cost of policies for Pulaski, Starke and LaGrange counties are $892, $841 and $948, respectively. Gibson is not the most expensive county, illustrating how county size impacts rates.

Risk Rating 2.0

In October 2021, FEMA introduced Risk Rating 2.0 in Indiana, which evaluates individual property risks. In addition to flood zone mapping, it also looks at foundation type, dwelling structure, elevation, replacement and repair costs, frequency of flooding and other factors.

That said, it still calculates the cost by mainly looking at where you live geographically. MoneyGeek breaks down all the factors that affect flood insurance costs below.

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    Flood Risk

    Flood insurance in Indiana tends to be more expensive because it has many flood-prone areas. However, Risk Rating 2.0 also looks at individual risk factors. This means that even your neighbor who has a different individual property risk will have a different flood insurance cost than yours.

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    Coverage Type

    Comprehensive coverage is more expensive than limited coverage. Indiana counties with high average coverage pay more expensive premiums.

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    Deductible

    To lower your monthly premiums, you may choose to pay a higher deductible. Deductibles usually range between $1,000 and $10,000.

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    Age of Structure

    Older structures are more prone to flood damage. Therefore, insurance companies charge higher rates for these kinds of properties.

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    Structure Design

    Some structure designs are able to better manage flood damages by being highly durable and weather resilient.

Do You Need Flood Insurance in Indiana?

Even if you don’t live in a flood-prone area, FEMA recommends getting flood insurance since every property can be at risk for flood damage.

Since standard homeowners or renters insurance does not automatically cover flood damages, purchasing separate flood insurance will provide an extra layer of protection and peace of mind.

Private flood insurance will pay claims even if there isn’t a presidential disaster declaration. However, a typical federal disaster assistance grant is capped at $5,000 per household. Flood damage costs easily surpass this amount.

Frequently Asked Questions About Indiana Flood Insurance

MoneyGeek answered frequently asked questions to help you understand more about Indiana flood insurance.

What is the average cost of flood insurance in Indiana?

The average flood insurance cost in Indiana is $1,142 per year. This is significantly higher than the national average of around $767 per year. Those living in Henderson County tend to pay the highest monthly premiums at around $4,856 per year, while those living in Cook County pay the cheapest at around $338 per year.

Which companies offer flood insurance in Indiana?

There are private and NFIP-participating companies in Indiana that let you purchase flood insurance.

What kind of damage does flood insurance cover?

When it comes to flood insurance, your property’s building structure and its contents (i.e., your personal belongings) are protected against covered perils.

What affects flood insurance rates in Indiana?

Your proximity to flood-zone areas and your individual property risk are important factors when calculating flood insurance costs.

About Mark Fitzpatrick


Mark Fitzpatrick headshot

Mark Fitzpatrick is a Licensed Property and Casualty Insurance Producer and MoneyGeek's Head of Insurance. He has analyzed the insurance market for over five years, conducting original research and creating personalized content for every kind of buyer. He has been quoted in several insurance-related publications, including CNBC, NBC News and Mashable.

Fitzpatrick earned a master’s degree in economics and international relations from Johns Hopkins University and a bachelor’s degree from Boston College. He is passionate about using his knowledge of economics and insurance to bring transparency around financial topics and help others feel confident in their money moves.


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