How much is Flood Insurance in Idaho?
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How much is Flood Insurance in Idaho?
The average cost per policy in Idaho through the NFIP is $851.43. Depending on where you live, this average could vary substantially! When you also add in variables like your deductible, the cost of your home and contents, your premiums can change. 10 of the most populated cities in Idaho are listed below with their average cost per policy through the NFIP. If you're interested in a quote for a private flood insurance policy to compare costs, we offer a 100% online quote process.
Average Costs through the NFIP
City | Average Cost per Policy |
|---|---|
Boise | $758.03 |
Meridian | $566.14 |
Nampa | $756.03 |
Idaho Falls | $672.29 |
Caldwell | $650.03 |
Pocatello | $571.24 |
Coeur d'Alene | $716.86 |
Twin Falls | $473.60 |
Post Falls | $661.75 |
Lewiston | $935.09 |
*Prices as of 01/31/24.
Our private flood insurance averages are much lower than those shown above! Get a quote online and find out how much we can save you.
Not interested in private flood, or not sure whether you should choose an NFIP policy or a private flood insurance policy? We offer both! Give us a call and we'll answer all of your questions.
Our Prices are Consistently Lower!
Does my homeowners insurance in cover flooding?
Homeowner's insurance generally excludes flood coverage. Obtaining a flood insurance policy is typically left up to the homeowner. If you're looking to get a policy, we offer a 100% online process. You can get a quote started here!
How to get cheap flood insurance in Idaho?
With private flood insurance, you have options for broader coverage, usually at a lower price than if you were to purchase a policy through the NFIP. Get a quote and find out how much you can save when compared to an NFIP policy! Also note the differences in coverage between an NFIP policy and a private policy, like higher available coverage for your home, and coverage for living expenses if you are displaced from your home due to a flood. It could mean the difference between hundreds, if not thousands of dollars, down the line.
How to Get Flood Insurance Without a Flood Elevation Certificate.
Quality flood insurance is available without the added expense and trouble of getting an elevation certificate. FloodPrice can compare the rates for both private flood insurance and the NFIP to make sure you are getting the right coverage for the best price. Check out our quote page now to find out what coverage we can offer.
How do I save money on Flood Insurance in Idaho?
You may be able to save by getting a quote for private flood insurance instead of going through the NFIP. This is an entirely online process, no need to wait for a callback or an email! Once you've received your quote, compare it to what you'd pay through the NFIP. But don't just compare the costs, check what's covered by the NFIP so that if you try to submit a claim, you're not caught off-guard by what is, and isn't, covered.
The cost of a claim can be expensive, most are financially devastated after experiencing a flood if they don't have coverage. The average NFIP claim for flood damage in Idaho over the past 10 years is $11,000.
Risk Rating 2.0 Pricing in Idaho.
FEMA's flood program through the NFIP has begun using a new pricing methodology, Risk Rating 2.0. This will result in a price change for 97% of policyholders. This will impact nearly all of the 5,600 NFIP policies in force in Idaho.
New NFIP Policyholders can expect to see these changes October 1st, 2021. If you're an existing policyholder, these rate changes won't affect you until April 1st, 2022.
If you already have a policy through the NFIP, be sure to compare the Risk Rating 2.0 price to a Private Flood Insurance quote. You could possibly save hundreds of dollars. The time to start comparing prices on your flood insurance is before your policy is set to renews.
The NFIP does not allow mid-term cancellations. This means that once your policy renews, you have no option to cancel it unless you meet very restrictive guidelines, such as the sale of your home. The process can be difficult and frustrating. Here is a link to the guidelines to cancel an NFIP policy mid-term: FEMA Cancellation Form.
What is not covered by the NFIP?
Debris removal, additional living expenses, and belongings located in your basement, aren't covered. You would be required to purchase a secondary policy to cover appurtenant structures, such as a detached garage or shed. Visit their website to see everything that is, or isn't, covered by the NFIP.
If you'd like to be free from these limitations and have more options for coverage, consider getting flood insurance from FloodPrice,
*63% of NFIP policy holders in Idaho (3,579 policies) will see an average increase of $0-$120 per year. 6% of policyholders (317 policies) will see an increase of $120-$240 per year. 3% of policyholders (169 policies) will see an increase of greater than $240 per year.
Source: https://www.fema.gov/sites/default/files/documents/fema_idaho-state-profile_03-2021.pdf
