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FACT SHEET: Flood Insurance is a Smart Investment

Release Date Release Number
DR-4451-MO FS 004

Floods are the most common and costly natural disasters in the United States. Flood insurance is one of the most important steps residents can take to protect the financial lives they’ve built. But most homeowner and renter insurance policies do not cover flood damage.

  • The National Flood Insurance Program is an affordable way to protect investments in homes, personal property and businesses. It can be the difference between financial recovery and devastation.
  • Missouri received two major disaster declarations this year after much of the state was inundated by severe storms, tornadoes, straight-line winds and flooding. Twenty-six counties were designated for FEMA’s Individual Assistance program for the storms that struck between April 29 and July 5.
  • The National Flood Insurance Program, which provides most of the nation’s flood insurance, paid out more than $30 million to Missouri policyholders for flood claims filed since the first round of flooding in March.
  • There are 20,304 flood insurance policies in the state of Missouri, totaling nearly $4.2 billion in flood insurance coverage. There are 4,772 flood insurance policies in the 26 designated counties, totaling more than $956 million in flood insurance coverage.
  • Even without a disaster declaration, flood insurance can pay. More than $2.3 million was paid to policyholders in counties not designated in the April 29-July 5 declaration.
  • Nationally, the average cost of flood insurance is more than $700 a year. Rates for homes in areas with low-to-moderate risk typically average $400 to $500 a year.
  • Homes can be insured against flood damage for up to $250,000, and commercial buildings for up to $500,000. Policies can cover contents up to $100,000 for homes and $500,000 for businesses. Renters can insure their personal property for up to $100,000.
  • Call an insurance agent to get a quote for structure and contents coverage. For an agent referral, call 800-427-4661 or visit floodsmart.gov. Policies take 30 days to become effective.
  • Follow recovery updates in Missouri on Twitter @MOSEMA_ and @FEMARegion7. Get the latest information at Missouri's recovery website and FEMA's disaster webpage.

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Last updated March 18, 2021