How to Reduce Your Flood Insurance Premium

Get an Elevation Certificate

An elevation certificate is the single most impactful step you can take. This document, prepared by a licensed surveyor, establishes your property's exact elevation relative to the base flood elevation. If your home sits higher than the BFE, your premium could drop dramatically. The certificate typically costs $300-$600 but can save thousands annually on insurance.

If the certificate shows your property is above the BFE, you may also qualify for a Letter of Map Amendment that removes you from the high-risk zone entirely.

Mitigation Improvements

Elevating your home is the most effective but most expensive option, costing $30,000-$100,000 depending on the structure. Less costly measures include installing flood vents in enclosed areas below the BFE, elevating mechanical equipment like HVAC units and water heaters, and improving drainage around your foundation.

FEMA's Hazard Mitigation Grant Program and local community programs may cover a portion of these costs. Check with your local floodplain administrator for available assistance.

Policy Adjustments

Review your policy for potential savings. Increasing your deductible from $1,000 to $5,000 can reduce your premium by 30-40%. Consider whether you need contents coverage at the maximum level or if a lower amount is adequate. If you have made improvements, make sure your insurer has updated your property information.

Community Rating System Benefits

If your community participates in the Community Rating System (CRS), you may receive a discount of 5% to 45% on your NFIP premium. Check whether your city or county is a CRS participant and what class rating they have achieved. See the flood risk profile for your ZIP code to learn more about your area's programs and resources.