Virginia Flood Zone Map

Virginia flood zone map

Yes Please shop my Virgina Flood insurance

Does my Virginia homeowner insurance cover flooding?

A typical Virginia 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.

Flooding maps

Do I need flood insurance in Virginia?

It is important to have flood insurance coverage in Virginia because our beloved Cowboy State has seen a fair share of flooding, and there is likely more coming.

Yes Please shop my Virgina Flood insurance

We believe that most homeowners think about Flood insurance in Virginia 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 is looming, or we have heard on the news that there is flooding forecasted or happening currently too close to our home.

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

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.  In 80 percent of these individuals, they had water in their home or building 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.

flooding-in-virginia

Flooding in Virginia

Yes Please shop my Virgina Flood insurance

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

Flood nerd Broken heart1 – 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 – The average amount of assistance that homeowners get 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 in the form of a loan and you will need to pay it back.  Are you willing to gamble away your financial future by forgoing flood insurance coverage?

https://www.bloomberg.com/graphics/2017-fema-faulty-flood-maps/

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, then 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 for part of the risk. Our recent storms are facts that it can rain anywhere within Virginia, and you should consider getting flood coverage, so you are not uninsured when you need it most.

Yes Please shop my Virgina Flood insurance

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” then it really is.

Better Flood Insurance is the best shopper for you.
Let us to the flood insurance shopping for you – Save time.

The average cost for Virginia 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 Virginia flood insurance maps to assess risk, set premiums, and determine who is required to purchase flood insurance. Bad information about an areas flood risk can leave property owners under or uninsured.

 

How much is flood insurance in Virginia?

Virginia NFIP flood insurance.

There are many options available in Virginia regarding flood insurance, but they basically fall into two main categories. The NFIP/FEMA or Goverment option and the Private flood insurandce market.

Yes Please shop my Virgina Flood insurance

The National Flood Insurance Program (NFIP), also known as FEMA, which 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

If you have Nationwide Flood Insurance, State Farm Flood Insurance, Progressive Flood Insurance, or any of the of the logos below then 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.

State Farm Flood Insurance and the FEMA policy
Nationwide Flood Insurance of NFIP
https://www.fema.gov/wyo_company

Yes Please shop my Virgina Flood insurance

Virginia private flood insurance market

 

Lloyds of London flood Insurance quote
A Lloyds of London Flood insurance quote might make sense for you

There are alternatives to the NFIP or government insurance.  It  is called Private flood insurance most notably Lloyds of London Flood insurance, however, there are other options available in Virginia . We shop all the options for your property in your region to ensure you are getting the best premium.  If you are ready to have us do the work for you, please click here.

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

Virginia flood insurance quote

Yes Please shop my Virgina Flood insurance

Lloyds of London Flood Insurance Virginia Market

 

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

Lloyds of London has a rich history and is attributed to have invented the very first modern insurance model. Unlike most of its competition, Lloyds of London is not really a company but rather a corporate body.  This structure works quite well since it has been around for over 330 years. Lloyds operates under multiple financial backers that all pool their capital to spread the risk.

Yes Please shop my Virgina Flood insurance

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

Lloyds of London Flood Insuance

NFIP vs PrivateFlood Insurance

Lloyds also insures the world for flood insurance, meaning they cover flooding events in India, Australia as well as much of Europe.  You see the “game” of insurance is to spread your risk since Lloyds is worldwide.

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

Yes Please shop my Virgina Flood insurance

How much does flood insurance cost in Virginia?

There are many factors that go into getting the cost of flood insurance for Virginia. If your home is in what is considered low-to-moderate risk, you can get a heavily subsidized policy though the government.

Virginia 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 grid below):

Maximum flood insurance coverages NFIP

 

Yes Please shop my Virgina Flood insurance

Flood insurance rate maps

Here a link if you want to really dig into this one. Be ready for an eye chart because every option is public record and should be standardized accost whoever writes these policies.

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

https://www.fema.gov/media-library-data/1523307331106-4cf9726b2eb04c3471a3e9d37a58fa6a/09_prp_508_apr2018.pdf
A flood zone and SHFA rate maps
FEMA High-risk Rates

If your property is in higher-risk flood zone, it is usually identified with a Flood Zone AE. Your lender will require you to have flood insurance. The cost of flood insurance in Virginia depends on many factors that are unique to the structure. We are going to try to give you an idea for the most common homes we see in Virginia with a slab on grade foundation.

Yes Please shop my Virgina Flood insurance

We will look at the Virginia 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, as well as on a few of our private flood insurance policies, specifically Lloyds flood insurance options in Virginia.

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

Our example is in Virginia Beach, but the premiums will be the same if in Chesapeake, Norfolk, Hampton, Fairfax, and many other Virginia flood ones.

In our example, the Base Flood Elevation (BFE is 5.1) and is a home that is built before 1973

Yes Please shop my Virgina Flood insurance

NFIP option in Virginia 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 $4,806.83

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

 

Virginia Private flood insurance – Lloyds of London Flood Insurance (option 1)

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

Lloyds of London (option 1) Annual premium in High-Risk flood zone is $871.34

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 do offer coverage for basements, about $2,000 for loss of use, $2,000 for other structures, but they can’t increase this coverage. They do not require an Elevation Certificate to rate.

Yes Please shop my Virgina Flood insurance

Virginia Private flood insurance – Lloyds of London Flood Insurance (option 2)

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

Lloyds of London (option 2)  Annual premium in High-Risk flood zone is $1,010.37

This option is great, and we are very happy when we can get this option for our clients as well. They seem to be writing almost all risks; however, they do not write any property that is in a designated floodway or has the depth of -4 under the BFE.  In our example, with our BFE being 5368, if the lowest floor is 5364, then they will not accept this risk.  They will not take anything that has had a flood loss. They do 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, then that will need to be added.

 

Private Flood insurance Virginia (option 3) Not Lloyds

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

Annual premium in High-Risk flood zone is $3,962.83

This option will take properties that have had one flood loss as long as it has been 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.

Yes Please shop my Virgina Flood insurance

Private Flood insurance Virginia –  Lloyds of London (option 4)

This option must be written on the Replacement Cost Value (RCV) of the building, 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 just use that for this option

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

Annual premium in High-Risk flood zone is $891.10 (great price).

Flood Nerds are the Best

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, which is a bit different from some of our other Lloyd’s flood options.  We usually reserve this one if the property doesn’t fit into any of our options above. We can adjust coverages to control premium. As mentioned before, this underwriters’ rates are all over the board.  It is worth shopping through to make sure we are getting you the best premium we can. They don’t need an elevation certificate to rate.

Yes Please shop my Virgina Flood insurance

Private Flood insurance Virginia –  Lloyds of London (option 5)

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

Annual premium in High-Risk flood zone is $1,015.68

This option came out of the company that used to run the NFIP program, so the coverage almost exactly matches the NFIP coverage with two differences. They offer living expenses which will cover your cost, when you are displaced from your home during repairs (most Lloyds flood policies offer this).  They also offer swimming pool clean out, which is kind of unique so if you have a pool ask for this coverage.

Private Flood insurance Virginia –  Lloyds of London (option 6)

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

Annual premium in High-Risk flood zone is $940.04

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 we will watch them. They have a slick system, and their underwriting is managed by a 3rd party, which also seems to be a glitch sometimes.

Flood Nerds shop all options
FEMA FLood Insurance Rate Maps

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

Yes Please shop my Virgina Flood insurance

Flood Insurane rate maps in Virginia

Currently, Virginia has 105,933 NFIP policies in force to date with the total cost of $78,057,383.  That would make the average flood rate for Virginia $737. Of course, some will pay more, and some will pay less.

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Average cost of flood insurance in Virginia

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

Flooding in Virginia

Let’s start off with Accomack, Virginia where the active flood policies number 1,329 with $917,700 in flood premiums.  The average flood rate in Accomack is $691.

Yes Please shop my Virgina Flood insurance

Next up is Chincoteague, Virginia where the average flood rate rises to $771.  There are 1,766 active flood policies with $1,362,388 in written premiums.

Let’s check out a group of areas that include Wachapreague, Albemarle, and Alleghany, Virginia where the average flood rate is $744.  These areas have a combined premium total of $357,156 with 480 flood policies in effect.

Arlington, Virginia has $368,352 in written premium with 999 flood policies in effect.  The average flood rate in Arlington is $369.

Flood nerds are Experts in Flood insuranceLet’s look at Augusta and Bedford, Virginia where the policies number 367.  The premiums in these areas total $341,770 which allows the average flood rate to be $931.

Our next group of areas include Botetourt, Buchanan, and Caroline, Virginia where the average flood rate is $1,107.  The active flood policies number 436 with $482,651 in flood premiums.

$601 is the average flood rate in Chesterfield, Virginia.  Chesterfield has 914 active flood policies with $549,470 in written premiums.

Another group include Essex, Herndon, and Vienna, Virginia where the premiums add up to $358,295 and the policies number 439.  The average flood rate for these areas is $816.

Yes Please shop my Virgina Flood insurance

In Fairfax, Virginia, the policies number 6,945 with $3,435,236 in flood premiums.  The average flood rate in Fairfax is $495.

Fauquier, Franklin, and Frederick, Virginia have an average flood rate of $761.  The premiums here add up to $304,599 with 400 flood policies in effect.

1,535 flood policies are active in Gloucester, Virginia.  The flood premiums here total $1,252,818 which allows the average flood rate to be $816.

Let’s look at another group that includes Hanover, Henry, and Charlottesville, Virginia where the policies number 389.  The average flood rate for these areas is $1,023 which includes $397,814 in written premium.

Next up is Henrico, Virginia where the premiums total $888,250 and the flood policies number 1,051.  The average flood rate in Henrico is $845.

$1,313,534 is the total of flood premiums in Alexandria, Virginia.  The average flood rate in Alexandria is $832 which includes 1,579 flood policies in effect.

Yes Please shop my Virgina Flood insurance

Chesapeake, Virginia has 8,685 flood policies active with $5,300,462 in written premiums.  Chesapeake has an average flood rate of $610.

Looking at another group of areas that include Colonial Heights, Covington, and Danville, Virginia, we find the average flood rate is $1,649.  The premiums here add up to $524,339 and the flood policies total 318.

Flood Nerds

In Fairfax, Virginia, the premiums total $341,219 with 610 active flood policies.  The average flood rate in Fairfax is $559.

Our next group includes Falls Church, Franklin, and Fredericksburg, Virginia where the average flood rate calculates to $1,900.  The flood policies add up to 463 with $879,694 in total flood premiums.

10,431 is the number of active flood policies in Hampton, Virginia.  The premiums total $8,953,693 which allows the average flood rate to be $858.

The average flood rate in Harrisonburg and Petersburg, Virginia is $1,636.  The policies add up to $274 with $448,300 in flood premiums.  Give us a call Harrisonburg and Petersburg!

The premiums in Newport News, Virginia total $1,371,060.  The average flood rate in Newport News is $688 which includes 1,994 active flood policies.

Hello Norfolk, Virginia!  Thanks for stopping by!  The flood policies in Norfolk number 12,148 with $9,065,931 in flood premiums.  The average flood rate here is $746.

$2,945,470 is the total of the premiums in Portsmouth, Virginia.  The average flood rate in Portsmouth is $726 which includes 4,057 in active flood policies.

Yes Please shop my Virgina Flood insurance

Richmond, Virginia has 606 flood policies in effect with $667,841 in premiums.  The average flood rate in Richmond is $1,102.

The average flood rate jumps to $2,306 in Roanoke, Virginia.  The premiums here total $1,265,815 with 549 flood policies in effect.  Give us a call Roanoke!

The average flood rate lowers just a bit to $2,277 in Salem and Staunton, Virginia.  The policies here number 512 with $1,166,025.  Give us a call to check your rates!

$477 is the average flood rate in Suffolk, Virginia.  The number of active policies is 995 with $474,757 in flood premiums.

Virginia Beach flood zone

Yes Please shop my Virgina Flood insurance

Hello Virginia Beach, Virginia!  You all have the highest number of active flood policies in the state at 24,061.  The premiums in Virginia Beach total $13,387,771 which allows the average flood rate to be $556.

Let’s check out a group of areas that include Waynesboro, Winchester, and Isle of Wright, Virginia where the average flood rate computes out to $1,385.  The active flood policies add up to 632 with $875,260 in written premiums.

James City, Virginia has 976 flood policies in effect with $608,370 in flood premiums.  James City has an average flood rate of $623.

The average flood rate rises to $843 in Lancaster, Virginia.  Lancaster has $494,186 in premiums and 586 active flood policies.

490 flood policies are active in Leesburg and Middlesex, Virginia.  The premiums in these areas total $442,144 which allows the average flood rate to be $902.

The average flood rate in Loudoun, Virginia is $560.  The flood premiums add up to $400,019 with 714 flood policies in effect.

$1,482,806 is the total of flood premiums in Mathews, Virginia.  The average flood rate in Mathews is $1,033 which includes 1,435 in active flood policies.

FLOOD NERD FISHING

Looking at a group of areas that include Montgomery, New Kent, and Cape Charles, Virginia, we find the number of active flood policies total 453 with $319,506 in written premium.  The average flood rate in these areas is $705.

Another group that includes Northampton and Page, Virginia, we see the average flood rate is $817.  The premiums total $349,695 with 428 flood policies in effect.

Northumberland, Virginia has 735 active flood policies with $553,816 in total premiums.  The average flood rate in Northumberland is $753.

Yes Please shop my Virgina Flood insurance

$638 is the average flood rate in Prince William, Virginia.  The number of flood premiums add up to $825,447 with 1,293 flood policies in effect.

Let’s study another group that include Roanoke, Rockbridge, Smyth, Southampton, and Spotsylvania, Virginia where the active policies total 1,072.  The premiums in these areas total $924,113 which allows the average flood rate to be $862.

Next up is Rockingham and Shenandoah, Virginia, where the average flood rate is $1,081.  The active flood policies number 470 with $508,228 in written premiums.

684 flood policies are in effect in Stafford, Virginia.  The average flood rate in Stafford is $621 which includes $424,923 in flood premiums.

Another group includes Tazewell, Front Royal, and Warren, Virginia where the average flood rate is $1,393.  The premiums add up to $494,463 and the active flood policies number 355.

Our last group we’ll study is Colonial Beach, Westmoreland, and Wise, Virginia, where the premiums total $479,730.  There are 624 flood policies in effect which allows the average flood rate to be $769.

 $887 is the average flood rate in Poquoson, Virginia.  The premiums add up to $2,829,838 and the policies here number 3,191.

Our last area to look at is York, Virginia.  York has 3,123 flood policies in effect with $2,127,918 in written premiums.  The average flood rate in York is $681.

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

Yes Please shop my Virgina Flood insurance

How to save money on Flood Insurance in Virginia’s VE flood zones

All homes that are ocean facing are custom built so with this special consideration our Lloyds of London VE flood zone and other Private Flood Insurance options for oceanfront properties take this into consideration with variable coverage options as well as significant savings below is a case study for a property we were shopping just last week.

Our example was in the Virginia Beach, VA area and is in a VE flood zone map.

Yes Please shop my Virgina Flood insurance

For the coverage of $250,000 with no contents and a $5,000 deductible the NFIP annual cost for flood insurance in a VE flood zone is $ 14,001.00. Ouch!

Since we are who we are and experts in Flood Insurance we will look at every property everyway possible to ensure that we are getting the best premium for our clients and WE often Do (smile wink)

We tried this same property on our Private flood options and were able to get the premium to under $5,150 and we have in some cases with similar properties gotten the annual premium to $600 this was a feather in our cap and made our clients very happy. Again all properties are unique in these VE flood zones but if we can find a private flood policy for you we guarantee it will be better then the NFIP option.

Let us help you save money today.

Cost of flood insurance in Virginia

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.

Yes Please shop my Virgina Flood insurance

About 30 percent of NFIP claims payments go to the same 3 percent of insured “repetitive loss” structures year after year. 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. In fact, a recent white paper by Milliman found that 90 percent of homes in Sandy-struck Virginia and New Jersey would see reduced flood insurance rates through private insurers.





Yes Please shop my Virgina Flood insurance
References
the following documents contain additional hydrologic data, flood photos, historic flood descriptions, floodplain delineations and other pertinent information, and should be considered supplemental to this flood warning plan:
https://bsa.nfipstat.fema.gov/reports/1011.htm#COT
https://www.fema.gov/average-claim-payments-date-loss
https://www.fema.gov/national-flood-insurance-program
https://www.fema.gov/media-library-data/1486576697135-ac6348fb2a3d98ceba33cf3f38422dbc/Claim_Loss_Counts_Sept2016.pdf
https://www.fema.gov/media-library-data/1458666638945-d752cb148ef1348b4b1c22acec66a0bd/Claim_loss_count2015.pdf
https://www.fema.gov/media-library-data/1393877884619-3091f75bf9d46a26f5beb7d423c34529/Total_Claim_Count_fy2013.pdf
Flooding in Virginia
https://www.weather.gov/safety/flood-states-va
Yes Please shop my Virgina Flood insurance