Standard homeowners insurance doesn't cover flooding. It is important to have protection from the floods associated with hurricanes, tropical storms, heavy rains and other conditions that impact the U.S.

Just a few inches of water from a flood can cause tens of thousands of dollars in damage. The average residential flood claim is over $30,000. Flood insurance is the best way to protect yourself from devastating financial loss.

Flood insurance is available to homeowners, renters, condo owners/renters, and commercial owners/renters. Costs vary depending on how much insurance is purchased, what it covers and the property's flood risk.  For more information about flood insurance or to find an agent in your area visit FloodSmart.gov.  There is a 70% discount on flood insurance for the first $35,000 in coverage when there has been a change in flood mapping.  
 

Risk Rating 2.0

The newest flood insurance rating methodology is called Risk Rating 2.0 (RR2.0). It is going into effect in two phases. The first phase began on October 1, 2021 for any new policies. The second phase begins on April 1, 2022 for those who are renewing a policy that already existed prior to October 1, 2021.

Risk Rating 2.0 will result in decreases in premiums for some property owners in Kansas. For those who will see increases it is important to note that the Home Owners Flood Insurance Affordability Act of 2014 caps the limits on flood insurance to no more than 18% in a year for a primary residence. The declaration page of the flood insurance policy will state what the full RR2.0 premium will be. A policy that is in a program to save money can be transferred to a new buyer without losing any discounts.

Learn more about Risk Rating 2.0 from this handout.