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

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ByMark Fitzpatrick
Edited byMorgan Hull
ByMark Fitzpatrick
Edited byMorgan Hull

Updated: May 22, 2024

Advertising & Editorial Disclosure

How much flood insurance costs in Minnesota varies by county and individual risk factors, including your home’s design, elevation, flood risk level and more.

Flood insurance is important because homeowners or renters insurance doesn’t cover losses due to floods or extreme weather events. Just one inch of water can cost up to $25,000 in repairs, according to the Federal Emergency Management Agency (FEMA).

To assess your home’s risk level, you can review a flood map. Flood insurance can be beneficial even to those that live in a low-risk flood zone, as you’ll avoid paying high costs for flood-related repairs.

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Flood insurance premiums can vary per county, depending on the frequency of flooding events.

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With private insurance companies, you can add an excess policy if your base policy doesn’t provide sufficient coverage.

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Flood insurance covers personal items like artwork, electronics, furniture and more.

Average Cost of Flood Insurance in Minnesota

In Minnesota, flood insurance typically costs $1,031 a year. However, depending on your county's flood risk, your cost may vary. Homes in flood zones with a moderate risk of flooding or a high risk of flooding often cost more to insure.

Average Cost of Flood Insurance by County in Minnesota

The annual flood insurance cost in Minnesota is $263 more expensive than the national average. Minnesota may have more floodplains than other states, accounting for the higher cost.

In Minnesota, Martin County has the cheapest average premium and Nobles County has the most expensive at $266 and $2,806 per year, respectively. The table below shows the average cost of flood insurance by county in Minnesota.

Minnesota Flood Insurance Cost Per County
AITKIN COUNTYAverage Cost$1,114
ANOKA COUNTYAverage Cost$968
BECKER COUNTYAverage Cost$807
BENTON COUNTYAverage Cost$1,079
BIG STONE COUNTYAverage Cost$726
BROWN COUNTYAverage Cost$1,386

Companies That Offer Flood Insurance in Minnesota

Flood insurance is available from the NFIP or private insurance providers. Private providers offer a base policy, which has similar coverage to NFIP policies. You can supplement your base policy with an excess policy, which provides additional coverage. Families that need more coverage than what the NFIP offers, as well as those that are not part of an NFIP community, should consider purchasing flood insurance from a private provider.

Private Flood Insurance Providers in MN and Their Contact Numbers

Neptune Flood


Aon Private Flood


Hiscox - FloodPlus


FloodSimple Insurance Services




The NFIP also has affiliated insurance providers in Minnesota that offer flood insurance. For your convenience, MoneyGeek prepared a list of insurance firms that are NFIP participants, along with their respective phone numbers.

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

Allstate Insurance Company

(800) 527-2634

American Family Mutual Ins. Co

(800) 692-6326

American Nat. Prop. & Casualty

(417) 887-4990

American Strategic Ins. Corp.

(866) 274-8765


(800) 423-4403

Auto Owners Insurance Co.

Refer to the Agent locator

Farmers Insurance Group

(866) 865-2965

Hartford Fire Insurance Co.

(860) 547-7440

How to Purchase Flood Insurance and Its Coverage Requirements

Since there are no particular requirements for buying flood insurance, the process is simple and straightforward. You can start by calling the NFIP at 877-336-2627 or speaking with your home insurance agent.

MoneyGeek advises purchasing flood insurance as soon as possible. In contrast to the majority of commercial insurance companies in Minnesota, which typically have at least a 10-day waiting period, the NFIP has a 30-day waiting period before its policies go into effect. To verify, contact your provider.

What Does Flood Insurance Cover in Minnesota?

Your building and most of its contents are covered by standard flood insurance. Keep in mind that even one inch of water in your property can result in $25,000 in flood damage.

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Flood insurance only covers water damage brought on by a natural meteorological occurrence, as opposed to flooding from artificial water damage, such as a burst pipe.

Only your personal property and damage to your building's structure are covered by basic flood insurance. It does not include additional coverage for landscaping, decks, papers, pools or vehicle flooding.

Flood Insurance Building Coverage

Building coverage in flood insurance covers the cost of structural repairs and replacements to your home. You can purchase up to $250,000 of building coverage with NFIP insurance.

Among the items that flood insurance may protect against are:

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

Flood Insurance Contents Coverage

Meanwhile, contents coverage is the portion of flood insurance that covers your personal belongings, including:

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

Contents coverage for NFIP policyholders is available for up to $100,000.

Factors That Affect Flood Insurance Costs in Minnesota

Before FEMA introduced Risk Rating 2.0 in October 2021, the cost of flood insurance was based on your home’s location on a flood map. A tool on the FEMA website displays a state's flood risk and possible storm-related expenses.

Cass County, one of the Minnesota counties for which MoneyGeek has cost data, has had the fewest flooding incidents — only five — since 1996, while Winona County has seen the most, with 61 recorded. In Cass and Winona, flood insurance policies typically cost $479 and $1,212, respectively.

Risk Rating 2.0

FEMA unveiled a new risk rating framework in October 2021, which they called Risk Rating 2.0. In addition to mapping flood zones, this system assesses individual property hazards, including foundation type, building construction, elevation, replacement and repair costs and frequency of floods.

Risk Rating 2.0 offers a more specialized premium computation than the previous approach. It’s also worth noting that where you reside is still a big factor in determining how much your flood insurance is. Below, MoneyGeek breaks down a few of these pricing variables for flood insurance.

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    Flood Risk

    Risk Rating 2.0 now takes into account risk variables specific to each home, so your rate may be different from your neighbor's. Flood insurance typically costs more if you reside in a moderate- or high-risk flood zone compared to a low-risk flood zone.

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    Coverage Type

    Generally speaking, increasing your coverage increases your rate. The cost of coverage also varies by state and county.

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    Your premiums may be less expensive if you choose a higher deductible, but you will be responsible for paying it when you file a claim. Typically, they cost between $1,000 and $10,000.

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    Age of Structure

    Flood insurance companies also take into account your home's age. If you own an older home, expect to pay more.

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    Structure Design

    Your flood insurance cost is also affected by the construction materials and structural layout of your property.

Do You Need Flood Insurance in Minnesota?

Government-backed mortgages and creditors require those that live in high-risk flood zones to have flood insurance. However, flooding is a risk for all homes, which is why we encourage residents in low- or moderate-risk flood zones to also think about purchasing a policy.

Private flood insurance offers several benefits. If your house floods, but there isn't a presidential disaster proclamation, providers must still fulfill claims. The typical household cap for a federal disaster assistance grant is $5,000, but costs for flood damage can easily exceed this limit.

Flood insurance provides policyholders with additional security and peace of mind overall.

Frequently Asked Questions About Minnesota Flood Insurance

To help you understand more about flood insurance in Minnesota, MoneyGeek provided answers to some commonly asked questions below.

What is the average cost of flood insurance in Minnesota?
Which companies offer flood insurance in Minnesota?
What kind of damage does flood insurance cover?
What affects flood insurance rates in Minnesota?

About Mark Fitzpatrick

Mark Fitzpatrick headshot

Mark Fitzpatrick has analyzed the property and casualty insurance market for over five years, conducting original research and creating personalized content for every kind of buyer. Currently, he leads P&C insurance content production at MoneyGeek. Fitzpatrick 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.