Kansas flood plain map

Does my Kansas homeowner insurance cover flood? 

A typical Kansas homeowners’ policy is written through Farmers, State Farm, Allstate, and Progressive, for instance, excludes flooding as something that will be covered under their homeowner’s policy.  

In most cases, the only way to get flood coverage is by purchasing a stand-alone flood insurance policy. However, you should ask your homeowners agent if you can add an endorsement to your homeowner’s policy to cover flooding. Yet, don’t be too surprised if the answer is NO.  

  

Do I need flood insurance in Kansas? 

Having flood insurance coverage in Kansas is important because our beloved Cowboy State has seen a fair share of flooding, and more is likely coming.   

We believe that most homeowners think about Flood insurance in Kansas at some point, maybe before buying a home or during the closing process.  However, many of us only think about it when a big storm looms, or we have heard on the news that there is flooding forecasted or happening too close to our home.    

If your home or business is in a flood zone, that is considered a low flood risk area. Sadly, many homeowners decide to forgo purchasing coverage because they believe they are safe from flooding. Some real estate and insurance agents may even say you don’t need it.   

flood plain map

I ask you to consider the facts: 20 percent of all flooding events across our nation come in areas that are considered low risk. After our last few major storms (Hurricane Harvey), we saw flooding in these low-risk areas.  Eighty percent of these individuals had water in their homes or buildings and didn’t have flood insurance coverage.   

In Harris county, nearly 135,000 homes were damaged.  Three-fourths of these properties were considered low to moderate risk.  

We often hear that people believe the government will help, which is true.  However, a few things must align for you to get government assistance.    

  1. The president of the United States must declare the flooding event a state of emergency.  If this doesn’t happen, then there won’t be assistance.  
  2.  Homeowners’ average amount of assistance after a flood when they do not have flood coverage is $5,000.  The average cost of damage to one’s property after a flood is $38,000+.  That $5K you get from the government?  It comes as a loan, and you will need to pay it back.  Are you willing to gamble on your financial future by forgoing flood insurance coverage? 

One more note on these low-risk flood zone maps. Many of these maps are over 40 years old. If the area has been developed, there is likely more concrete, creating a barrier for land that previously might have absorbed the massive downpour.    

Because of all these factors, it is difficult for property owners to know their true risk of flooding. FEMA admits that their flood maps only give an idea of part of the risk. Our recent storms are facts that it can rain anywhere within Kansas, and you should consider getting flood coverage, so you are not uninsured when you need it most.   

kansas flood zone map

FEMA flood zone maps often take years to go into effect after the terrain was studied; this gives the impression that the area is “more up to date” than it is. 

The average cost for Kansas flood insurance in these Low-risk areas is $595 per year.    

FEMA’s National Flood Insurance Program (NFIP) and all federally backed lenders rely on these Kansas flood insurance maps to assess risk, set premiums, and determine who is required to purchase flood insurance. Bad information about an area’s flood risk can leave property owners under or uninsured.  

How much is flood insurance in Kansas?

Kansas NFIP flood insurance 

There are many options available in Kansas regarding flood insurance, but they fall into two main categories.  

1- The Government option – Sometimes called the FEMA policy or NFIP

2 – The Private flood insurance market – Mostly Lloyds of London flood insurance, but other options are available as well

We Shop all flood insurance options in Kansas.

The National Flood Insurance Program (NFIP), also known as FEMA, is the government option for flood insurance.  The NFIP has enjoyed a 50-state monopoly on the flood insurance market.  

Not “private flood insurance” but NFIP Resellers 

Suppose you have Nationwide Flood Insurance, State Farm Flood Insurance, Progressive Flood Insurance, or any of the logos below. In that case, you are buying the NFIP flood policy that is just being resold through a government program. These companies are private companies, but their flood insurance is not. Here is a list of the 70 companies that resell the NFIP policy. 

Not Private flood Insurance  

Llloyds of London Flood Insurance ShopperKansas private flood insurance market 

There are alternatives to NFIP or government insurance.  It is called Private flood insurance, most notably Lloyd’s of London Flood insurance. However, there are other options available in Kansas. We shop all the options for your property in your region to ensure you are getting the best premium.  Please click here if you are ready to have us do the work for you   

Our shopping includes the NFIP because sometimes we find that you can get a much better premium with government subsidies.  

Lloyd’s of London Flood Insurance Kansas Market 

Kansas is fortunate to have many Lloyd’s of London flood insurance options. Although many Lloyd’s flood insurance companies will have you assume that there is only one option, nothing could be further from the truth. 

Lloyd’s of London has a rich history attributed to having invented the first modern insurance model. Unlike most of its competition, Lloyds of London is not a company but a corporate body.  This structure works well since it has been around for over 330 years. Lloyds operates under multiple financial backers pooling their capital to spread the risk.  

I have two blog posts that deep dive into Lloyds of London and what they mean to Kansas’s flood insurance market.  If you are interested, the links are below.  

Lloyd’s of London Flood Insurance 

FEMA VS Private flood insurance 

Lloyd’s also ensures the world for flood insurance, meaning they cover flooding events in India, Australia, and much of Europe.  The “game” of insurance is to spread your risk since Lloyd’s is worldwide.   

Lloyds of London Private Market Flood InsruanceMy joke here is that Lloyds is banking on God’s promise that he won’t flood the entire world again, …..so they won’t have to pay out the whole world’s flood claim. 

How much does flood insurance cost in Kansas? 

  Many factors go into getting the cost of flood insurance for Kansas. If your home is in what is considered a low-to-moderate risk, you can get a heavily subsidized policy through the government.  

Kansas flood insurance low-to Moderate Risk rate and cost.
This is Flood Zone X, which is not lender required flood zone.  

This is usually identified as an X-flood zone.  Then we would suggest the government Preferred Risk Policy (PRP) which is a subsidized policy and has set flood insurance coverage limits (see the grid below): 

$250K (Residental) /$500K (commercial) Building
NFIP Maximum Coverage Limits

  

Be ready for an eye chart because every option is a public record and should be standardized to accost whoever writes these policies.  

The average cost for flood insurance in Kansas with the maximum set limits in these Low-risk flood zone areas is $405 – $700 per year.  

Your property is in a higher-risk flood zone, usually identified with a Flood Zone AE. Your lender will require you to have flood insurance. The cost of flood insurance in Kansas depends on many factors unique to the structure. We will try to give you an idea of the most common homes we see in Kansas with a basement foundation.  

We will look at the Kansas cost of flood insurance for the NFIP maximum of $250,000 for the (building only) with NO CONTENTS and our recommended deductible of $5,000.  

We will be rating this example on the NFIP and a few of our private flood insurance policies, specifically Lloyds flood insurance options in Kansas.  

Cost of Flood Insurance in KANSAS in high-risk flood zone AE  

Our example is Wichita, but the premiums will be the same in Topeka, Manhattan, Overland Park, and many other Kansas flood zones.  

In our example, the Base Flood Elevation (BFE is 1383) and is a home that is built before 1973 

NFIP option in Kansas Flood Zone AE 

NFIP – Coverage of $250,000 building coverage (no Contents coverage) and $5,000 deductible 

NFIP Annual premium in High-Risk flood zone is $2,894.00

This option is what we see if the property has had a flood loss before and either doesn’t have an Elevation Certificate applied or the Elevation certificate showing that the lowest floor is 4 feet under the BFE for the area. You can use 10% of your coverage to cover other structures on your property. 

Kansas Private flood insurance – Lloyd’s of London Flood Insurance (option 1) 

Coverage of $250,000 building coverage (no Contents coverage) and $5,000 deductible 

Lloyd’s of London (option 1) Annual premium in High-Risk flood zone is $812.50

This option is great, and we are very happy when we can get this option. They can be a bit choosey about what risk they will accept and will not take anything that has had a flood loss. They offer basements coverage, about $2,000 for loss of use and $2,000 for other structures, but they can’t increase this coverage. They do not require an Elevation Certificate to rate.  

Kansas Private flood insurance – Lloyd’s of London Flood Insurance (option 2) 

Coverage of $250,000 building coverage (no Contents coverage) and $5,000 deductible 

Lloyd’s of London (option 2)  Annual premium in High-Risk flood zone is $1,039.00 

This option is great, and we are very happy when we can get this option for our clients. They seem to be writing almost all risks; however, they do not write any property in a designated floodway or has a depth of -4 under the BFE.  In our example, with our BFE being 5368, they will not accept this risk if the lowest floor is 5364.  They will not take anything that has had a flood loss. They offer limited coverage for basements and do not require an Elevation Certificate to rate and as a percentage of coverage for loss of use. If you want coverage for other structures, that will need to be added.  

Private Flood insurance option (option 3)  Not Lloyd’s 

Coverage of $250,000 building coverage (no Contents coverage) and $5,000 deductible 

The annual premium in a High-Risk flood zone is $2,605.00

This option will take properties with one flood loss for more than five years, and the payout was under $100,000 on the claim. Their coverage matches the NFIP.  They will write practically all risks, don’t need an elevation certificate to rate, and are a bit lower in premium than the NFIP.  

Private Flood Insurance –  Lloyd’s of London (option 4)  

This option must be written on the building’s Replacement Cost Value (RCV). Otherwise, there is a co-insurance penalty that kicks in. So, $250,000 might be a bit low in California, but to keep this going, let’s use that for this option 

Coverage of $250,000 (RCV) building coverage, No Contents, and a $5,000 deductible 

The annual premium in a High-Risk flood zone is $619.20.

This options rating system is all over the board.  Sometimes we get a crazy great price, but other times the premium is way higher than the NFIP will consider taking a property that has had one flood loss before as long as it has been more than ten years and the payout was under $50,000 on the claim. Their preferred coverage is at replacement cost, slightly different from some of our other Lloyd’s flood options.  We usually reserve this one if the property doesn’t fit the above options. We can adjust coverages to control premiums. As mentioned before, these underwriters’ rates are all over the board.  It is worth shopping to ensure we get you the best premium possible. They don’t need an elevation certificate to rate.   

Private Flood Insurance –  Lloyd’s of London (option 5)  

Coverage of $250,000 (RCV) building coverage, No Contents, and a $5,000 deductible. 

The annual premium in a High-Risk flood zone is $1,015.86  

This option came from the company running the NFIP program, so the coverage matches the NFIP coverage with two differences. They offer living expenses covering your cost when you are displaced from your home during repairs (most Lloyds flood policies offer this).  They also offer a unique swimming pool clean-out, so ask for this coverage if you have a pool.   

Private Flood Insurance –  Lloyd’s of London (option 6)  

Coverage of $250,000 (RCV) building coverage. No Contents and a $5,000 deductible. 

The annual premium in a High-Risk flood zone is $950.00 

This options rating system is also all over the board. Sometimes we get a crazy low price; other times, the premium is way higher than the NFIP. They will consider taking a property that has had one flood loss before as long as it has been more than ten years and the payout was under $25,000 on the claim. They have been rumored to give a low price the first year and then non-renew following years, or sometimes they jack the price way up so that we will watch them. They have a slick system, and their underwriting is managed by a 3rd party, which also sometimes seems to be a glitch.  

More options are coming online every day, and we are working to be looking into every viable option.  

Flood Insurance in Kansas

Currently, Kansas has 9,183 NFIP policies in force to date, with a total cost of $8,096,167. That would make the average for Kansas $882. Of course, some will pay more, and some will pay less.  

Click here to have our shop and save you money.   

Hello, Kansas!  Thanks for visiting our page for all your flood insurance needs.  

Let’s start with Iola and Barton, Kansas.  These two areas have 116 active flood policies with $142,204 in written premiums.  The average flood rate for Iola and Barton is $1,226. 

Two hundred forty-three flood policies are in effect in Augusta, Butler, and El Dorado, Kansas.  This includes $233,264 in flood premiums.  The average flood rate for these areas is $960.   

Cherokee and Concordia, Kansas, have $112,715 in flood premiums with 98 active flood policies.  This allows the average flood rate for Cherokee and Concordia is $1,150. 

$806 is the average flood rate for Crawford and Pittsburg, Kansas.  The total number of active policies for these two areas is 117, with $94,325 in total premiums.  

In Doniphan, Elwood, and Douglas, Kansas, there are 207 flood policies in effect with $166,847 in written premiums.  This allows the average rate for these areas to be $806. 

Lawrence, Kansas, has an average flood rate of $624.  Lawrence has 272 active flood policies with $169,750 in written premiums.   

Let’s check out Kinsley and Ellis, Kansas, where there are 147 flood policies in effect with $113,080 in total premiums.  The average flood rate for Kinsley and Ellis is $769.   

Hello Hays and Ford, Kansas!  Thanks for checking out our page!  You all have an average flood rate of $1,503.  This includes $238,924 in total premiums with 159 active flood policies. 

$733 is the average flood rate for Harvey and Newton, Kansas.  The total premiums in these areas are $128,238, and the total number of flood policies is 175. 

One hundred fifty-three total flood policies are active in Jefferson and Leawood, Kansas.  The average flood rate for this area is $1,285, which includes $196,549 in total premiums.  

Olathe, Kansas, has 104 active flood policies with $74,190 in written premiums.  The average flood rate for Olathe is $713. 

There are 386 flood policies active in Overland Park, Kansas.  The average flood rate in Overland Park is $824, with $317,955 in total premiums.    

In Shawnee and Labette, Kansas, the total premiums are $88,165, with 97 flood policies in effect.  The average flood rate for Shawnee and Labette is $909. 

Let’s look at Parsons and Leavenworth, Kansas!  They have 154 active flood policies with $144,028 in written premiums.  This allows the average flood rate for these areas to be $935.   

$918 is the average flood rate for Lindsborg and McPherson, Kansas.  In Lindsborg and McPherson, 130 active flood policies with $119,281 in total premiums.  

The average flood rate raises to $1,081 in Coffeyville and Independence, Kansas.  The total number of active policies is 110, with $118,897 in written premiums.     

Three hundred fifty-three flood policies are active in Manhattan, Kansas, with $268,076 in total flood premiums.  This allows the average rate to be $759 for Manhattan, Kansas. 

Pottawatomie and Reno, Kansas, have $201,529 written premiums with 195 active flood policies.  The average flood rate for these areas is $1,033. 

Salina, Kansas, has 165 active flood policies.  The average flood rate for Salina, Kansas, is $1,131, which is $186,593in total premiums.  

Let’s check out Saline, Kansas.  They have 126 active flood policies and an average flood rate of $1,039.  The total number of flood premiums is $130,908.  

112 is the number of active flood policies in Derby, Kansas.  The average flood rate is much lower in Derby, coming in at $426.  The total premiums for Derby are $47,740.   

Mulvane, Kansas, has 100 active flood policies with $69,475 in total flood premiums.  The average flood rate for Mulvane is $695.   

Hello Wichita, Kansas!  You all have $645,206 in total flood premiums with 886 active flood policies.  This allows the average flood rate in Wichita to be $728. 

$803 is the average flood rate for Rossville and Shawnee, Kansas.  There are 371 flood policies in effect with $298,064 in total premiums.    

Topeka, Kansas, has 826 active flood policies!  The premiums in Topeka add up to $508,396, which allows the average flood rate to be $615.   

Finally, let’s look at Kansas City, Kansas.  The average flood rate in Kansas City is $1,846.  The total number of premiums in Kansas City is $310,086, with 168 total flood policies.    

Thanks for checking out all the flood information on Kansas!! 

Cost of flood insurance in Kansas

For decades, the NFIP has over-charged 50 percent of its policyholders and under-charged the other 50 percent, while it has racked up $42 billion in taxpayer-funded losses, equating to more than half of every claim paid by the NFIP since 1978. 

About 30 percent of NFIP claims payments go to the same 3 percent of insured “repetitive loss” structures yearly. When you do the math, this means that the other 97 percent of their flood-exposed constituents could have paid in less and still netted larger claims payouts if they had better access to private flood insurance. A recent white paper by Milliman found that 90 percent of homes in Sandy-struck New York and New Jersey would see reduced flood insurance rates through private insurers.