Homeowners and renters insurance exclude coverage for natural flooding. Thus, you’ll need to purchase a supplemental policy.
Flood insurance premiums are calculated based on individual property risks such as the unit’s elevation, physical structure, location and replacement costs. We encourage North Dakota residents to check their local flood map so they know whether they live in a moderate- or high-risk flood zone.
Flood insurance guards you against significant expenses, regardless of where you live. The Federal Emergency Management Agency (FEMA) notes that just an inch of water can cost you up to $25,000.
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Because individual property risks matter, your flood insurance rates may look different than your neighbor’s.
The average cost of flood insurance in North Dakota is $835 per year.
In terms of average annual flood insurance costs, Sargent County has the cheapest rates at $313, whereas Williams County has the priciest premiums at $1,690.
Average Cost of Flood Insurance in North Dakota
On average, flood insurance in North Dakota costs $835 per year. However, costs still vary per county. Flood insurance is also determined by your specific property risks and how flood-prone your area is. Premiums are more expensive for individuals who live in moderate-risk or high-risk flood zones.
Average Cost of Flood Insurance by County in North Dakota
The average flood insurance rate in North Dakota is $68 more expensive than the national average, which might be influenced by North Dakota’s higher flood risk. Aside from the state’s average premium, your county’s flood risk also matters.
In Sargent County, a flood insurance premium costs an average of $313 per year, making it the cheapest rate in the state. On the other hand, Williams County has the most expensive average cost at $1,690 per year.
View the table below to see the average rates of flood insurance in North Dakota counties.
North Dakota Flood Insurance Cost per County
Companies That Offer Flood Insurance in North Dakota
It’s possible to purchase a flood insurance policy from the NFIP or a private company. Typically, private insurance providers have two types of policies: a base policy (identical to an NFIP policy) and an excess policy (add-on coverage for the base policy).
While the NFIP is a great option, it may not fit every homeowner’s needs. Hence, private providers are ideal if NFIP coverage is insufficient or if households are outside an NFIP community.
Private Flood Insurance Providers in ND and Their Contact Numbers
Aon Private Flood
Hiscox - FloodPlus
FloodSimple Insurance Services
The NFIP has partner insurance companies that offer flood coverage. In the table below, MoneyGeek shares a complete list of NFIP-participating insurance providers in North Dakota.
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 Owners Insurance Co.
Refer to the Agent locator
Farmers Insurance Group
Hartford Fire Insurance Co.
How to Purchase Flood Insurance and Its Coverage Requirements
It’s quite easy to buy a flood insurance policy since it doesn’t have special requirements. All you need to do is call the NFIP hotline at 877-336-2627 or talk to your home insurance agent.
It takes time for flood insurance to kick in, so it’s best to purchase a policy as soon as possible. The waiting periods for the NFIP and private insurance companies are roughly 30 days and 10 days, respectively. Contact your provider to confirm.
What Does Flood Insurance Cover in North Dakota?
Flood insurance usually covers damages to your building structure and personal possessions. Purchasing flood insurance might save you from paying $25,000 in damages if your house is flooded with just one inch of water.
Flood insurance covers water damage caused by natural weather events. Thus, unnatural water damage such as leaking appliances or broken pipes isn’t included.
Flood insurance doesn’t cover damage to swimming pools, cash, paperwork, decks, patios, landscaping and basement items. If you want to financially protect your vehicle against flooding damage, we recommend comprehensive insurance.
Flood Insurance Building Coverage
In the event of a covered peril, building coverage helps pay for the repair or replacement of your home’s physical structure. With an NFIP policy, you can get up to $250,000 in building coverage.
A few examples include:
- Foundation walls
- Electrical systems
- Plumbing systems
- Furnaces, central heating and air conditioning
- Built-in appliances
- Permanent carpets
- Built-in furniture
Flood Insurance Contents Coverage
Contents coverage protects you against the cost of repairing or replacing your personal belongings. You can purchase up to $100,000 in contents coverage with the NFIP.
In terms of flood insurance, contents coverage usually includes the following items:
- Electronic equipment
- Washers and dryers
Factors That Affect Flood Insurance Costs in North Dakota
Flood insurance providers previously computed a household’s premiums based on its location in a flood zone map. However, FEMA now has an online tool that showcases the historical flood risk of your state and potential flood-related costs.
In North Dakota, Slope County is one of the counties with the least flooding events (eight) and among the cheapest premiums at $519 per year, on average. On the other hand, Richland County has the most flooding events (73), and its rates cost around $803 per year. These rates are based on MoneyGeek’s available cost data for North Dakota counties.
However, Williams County has the priciest premiums, costing $1,690 per year. This is despite the fact that flooding is relatively uncommon in this county, with just 13 flooding events. This could mean that the floods in this county are highly concentrated and damaging.
Risk Rating 2.0
In October 2021, FEMA implemented its Risk Rating 2.0, a system that aims for fairer premium pricing. Risk Rating 2.0 also focuses on an individual’s property risks, including elevation, frequency of flooding and the structure’s foundation type. However, note that your location still plays a huge role in determining your flood insurance cost.
You can check the below table to learn how flood-related factors affect your premiums.
North Dakota has several flood-prone areas, so residents usually pay higher premiums, on average. However, rates vary from person to person since Risk Rating 2.0 computes your rate based on individual property risks.
The cost of your flood insurance in North Dakota is also affected by the type of coverage you purchase. Comprehensive coverage is pricier than standard or limited coverage. The availability of coverage types also depends on the county in which you live.
Policyholders who opt for higher deductibles tend to pay lower monthly rates. Deductibles range from $1,000 to $10,000, and the best amount for your policy depends on your specific needs.
Age of Structure
Older structures are usually more expensive to insure as opposed to newer buildings. When calculating your rate, flood insurance companies will also account for the structure’s age.
Your flood insurance rate also depends on the home’s design. Certain building materials protect better against flooding damage. For example, those with masonry walls might pay cheaper premiums compared to homeowners with wood frame walls.
Do You Need Flood Insurance in North Dakota?
Almost every property is vulnerable to flooding. Regardless of your county’s flood risk level, purchasing flood insurance is a sound investment. Additionally, those with government-backed mortgages are required to purchase flood insurance if they live in a high-risk flood zone.
Flood insurance carriers must pay claims even if there isn’t an official disaster declaration. These payments must exceed the federal disaster assistance grant or loan of $5,000 per household.
Overall, flood insurance can provide an additional layer of protection and peace of mind.
Frequently Asked Questions About North Dakota Flood Insurance
Read through MoneyGeek’s answers to some frequently asked questions about flood insurance in North Dakota to gain a better grasp of this topic.
About Mark Fitzpatrick
- FEMA. "Flood Insurance." Accessed July 26, 2022.
- FEMA. "Historical Flood Risk and Costs." Accessed July 26, 2022.
- FEMA. "Rate Explanation Guide." Accessed August 23, 2022.