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

Flood insurance is usually not included in your homeowners or renters policy. The cost of flood insurance is influenced by your geographical location and individual property risks. These property risks include the number of stories in your house, ground elevation, proximity to bodies of water, etc.

Most counties in Missouri have experienced more than 50 floods since 1996. It’s best to purchase flood insurance to mitigate flood damage costs, especially if you live in a moderate- or high-risk flood zone. According to the Federal Emergency Management Agency (FEMA), you could pay up to $25,000 for damages caused by an inch of flooding.

TABLE OF CONTENTS

• Cost of Flood Insurance in Missouri
• Flood Insurance Companies in Missouri
• Flood Insurance Coverage
• Flood Insurance Cost Factors in Missouri
• Do You Need Flood Insurance?
• Missouri Flood Insurance FAQs

In Missouri, the average cost of flood insurance is $1,261 per year. The state's flood-prone areas and individual property risks impact the average cost of flood insurance.

Your premium may vary depending on your state and county. Households near high- or moderate-risk flood zones tend to pay more for their flood insurance premiums.

The average cost of flood insurance in Missouri is more expensive than the national average because of the high number of flood-prone areas in the state. Comparing the counties in Missouri, Harrison County has the cheapest average cost ($287 per year), while Polk County has the most expensive average cost ($3,358 per year). The list below shows the cost of flood insurance in every county in Missouri.

Flood insurance is provided by the NFIP or private insurance companies. For households that are not in NFIP communities or think NFIP coverage is insufficient, private providers are a good option.

You can get a base policy or an excess policy from private insurers. A base policy is comparable to an NFIP policy. To supplement your base policy, you can obtain an excess policy, which includes more coverage.

The NFIP is consistently working to make flood insurance more accessible to all households in the country. To make this possible, the NFIP has teamed up with several insurance companies that offer flood insurance policies. The table below includes a list of the NFIP’s partner insurance companies in Missouri.

The process of buying flood insurance isn’t complicated, and there are no special requirements to purchase a policy. Simply give the NFIP hotline (877-336-2627) or your home insurance agent a call. You can also check other insurance companies.

Given that the NFIP has a 30-day waiting period, it is recommended to get your policy as soon as possible. In Missouri, private insurance providers may impose a 10-day waiting period, though you can contact your provider to verify.

Your building structure and personal belongings are covered by flood insurance. Having these covered is crucial because even just one inch of water can cost $25,000 in damages.

Flood insurance does not cover swimming pools, decks, patios, landscaping, money, documents, items in the basement or vehicle flooding. To cover these damages, consider purchasing additional insurance coverage.

When your home suffers damage from one of the covered perils in your policy, building coverage can pay for its repair or replacement. You can be covered for up to $250,000 if you have a policy from the NFIP. The following are examples of structural elements that can be covered by your flood insurance:

• Plumbing
• Furnaces, central heating and air conditioning
• Walls
• Electrical lines
• Built-in appliances
• Permanent carpets
• Built-in furniture

Personal items that are damaged by a covered peril can be repaired or replaced with the help of contents coverage. An NFIP policy covers your personal belongings for up to $100,000. The following items can be covered by the contents coverage component of flood insurance:

• Clothes
• Furniture
• Electronics
• Washers and dryers
• Art

A home’s general location used to be the only factor that affected the cost of flood insurance, and it’s still the most important one.

According to FEMA, Caldwell County has the fewest flood events, and Cape Girardeau County has the most. Caldwell County, with 14 flood events since 1996, has an average flood insurance cost of $445 per year. Flood insurance in Cape Girardeau County, a county with 170 flood events, costs $1,370 per year on average.

Cape Girardeau County does not have the highest rates in the state. That distinction belongs to Polk County, with 119 flood events and an average rate of $3,358. This is likely due to the fact that Polk County includes portions of two large flood-prone lakes, Stockton Lake and Pomme de Terre Lake. To know the historical flood risk in your area, consult FEMA’s website.

A scoring system called Risk Rating 2.0 was introduced by FEMA in October 2021. It provides more equitable flood insurance prices. It does not just rely on the flood map and instead factors in property risks, such as:

• The type of your foundation
• The structure of your dwelling
• Elevation
• Cost of repair and replacement

Your location will still significantly affect your premium. The elements listed below can influence the cost of flood insurance in Missouri.

Flood insurance protects your property from its potential vulnerability to flooding. It’s a wise investment that also provides peace of mind.

Government-backed mortgages and lenders require you to buy flood insurance if you reside in a high-risk flood zone. Additionally, FEMA advises households in low- or moderate-risk flood zones to acquire flood insurance as an extra measure of safety.

Flood insurance is not covered by homeowners or renters insurance. Federal help for disasters may be a grant or a loan of up to $5,000 per household, but flood insurance can cover more. It also covers claims even without a disaster designation from the president.

You still might have doubts or questions about flood insurance. MoneyGeek answered these frequently asked questions about flood insurance in Missouri to guide you to finding the right policy for your needs.