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

Because homeowners and renters insurance don’t provide coverage for floods, you may need to purchase flood insurance as an additional safety measure for your home. However, the cost of flood insurance can significantly vary depending on where you live and the risk level of your property. According to FEMA’s Risk Rating 2.0, your building occupancy, first-floor height and proximity to bodies of water are some factors to consider.

Since Ohio has a high number of high-risk flood zones, you can check your local flood map to determine the risk level of your location. Those who live in a moderate- or high-risk flood zone should strongly consider buying flood insurance for greater peace of mind during natural disasters.

TABLE OF CONTENTS

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

How much is flood insurance in Ohio? On average, you can expect to pay around $1,225 yearly based on the state's average costs. This figure is impacted by the number of flood-prone areas in Ohio, along with risks associated with individual properties. However, you can pay more or less than the state average, depending on your location. Most of the time, people who live in moderate- or high-risk flood zones will pay higher rates.

The state average flood insurance cost is much higher than the national average, which can be attributed to the high number of flood-prone locations in Ohio. MoneyGeek found that Guernsey County has the highest annual rate at $2,256 on average, while Vinton County has the lowest average annual rate at $614.

The table below displays the average cost of flood insurance per year based on the county where you live.

You can either buy your flood insurance from a private company or purchase it directly from the NFIP. If you choose to work with a private provider, they typically offer a base policy that provides basic coverage similar to what the NFIP offers. Those who need higher coverage limits may want to consider an excess policy, which provides more coverage than a base policy.

Private providers may be an ideal option for households needing more coverage than the NFIP offers or those not covered by NFIP plans.

If you’re looking for other options, the NFIP also works with partner companies that offer flood insurance. The table below provides the names of these companies and their contact details.

To buy flood insurance for your home, you need to get in touch with the NFIP at 877-336-2627 or call your home insurance agent. You can also contact a private flood insurance provider. There are no special requirements for applying, so it’s a relatively easy process.

However, you should aim to buy flood insurance as early as possible. This is because private insurance companies in Ohio can have a 10-day waiting period, while the NFIP has a 30-day waiting period before insurance becomes effective.

Flood insurance can help cover the cost of physical damage to your home's structure and its contents. Even an inch of floodwater in your home can cause up to $25,000 worth of damages.

Unfortunately, flood insurance coverage doesn’t extend to items in your basement, any vehicles you drive, your swimming pool or your patio. If you’re looking for vehicle flooding coverage, consider investing in comprehensive car insurance.

As part of your flood insurance policy, building coverage can pay for any damage to the home’s structure. You can acquire up to $250,000 worth of building coverage from the NFIP.

Building coverage can help cover the costs of repair or replacement for:

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

If your personal belongings are damaged by a flood, contents coverage can provide you with protection. You can obtain up to $100,000 worth of contents coverage from the NFIP.

Some things that contents coverage can cover include:

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

Prior to October 2021, the sole factor that impacted the cost of your flood insurance policy was where you lived based on the flood zone map. If you’re interested, you can check out the historical flood risk of your state online with FEMA.

The county in Ohio with the highest historical flood risk is Hamilton County, with 140 flood events since 1996 and an average flood insurance premium of $1,888. However, Guernsey County charges the highest annual flood insurance rates at an average of $2,256. This may be because floods are more concentrated in Guernsey County.

The county with the lowest historical flood risk is Williams County, with seven flood events since 1996 and an average flood insurance rate of $897. However, Vinton County has the lowest average premiums at $614 per year.

To charge more accurate premiums, FEMA introduced the Risk Rating 2.0 system in October 2021. It considers individual property risks, including your foundation type, elevation, dwelling structure, proximity to bodies of water, frequency of floods and location.

This table further elaborates on the various factors that can impact the cost of your flood insurance premium.

Flood insurance can be a good investment even if you live in a low- or moderate-risk flood zone. This is because floods can happen no matter where you live. However, those who live in a high-risk flood zone are typically required to purchase insurance for government-backed mortgages.

Flood insurance is also beneficial since you can file a claim even when a presidential disaster declaration isn’t in effect. Unlike federal disaster assistance, which is a maximum of $5,000 per household, flood insurance can provide much higher coverage and greater peace of mind.

If you’re still on the fence about purchasing flood insurance in Ohio, here are the answers to some common questions that buyers tend to ask.