CSFI Compiles Risk Rating 2.0’s Top 25 Impacted States, Counties, and ZIP Codes
On April 19, 2023, FEMA released more information on Risk Rating 2.0 full-risk rates. Risk Rating 2.0 was implemented for all policies on April 1, 2022.
FEMA published a dataset that includes rates by state, county, and ZIP code, for new or renewing policies up-to September 30, 2022. This spreadsheet (Exhibit 2, 3, and 4) can be viewed on FEMA’s website – https://www.fema.gov/flood-insurance/work-with-nfip/risk-rating/single-family-home.
CSFI has organized states, counties, and ZIP Code by full-risk rate premiums and calculated percent increase in premiums. All states’ full-risk rates are greater than their current rates. However, impacts vary across communities, with some communities experiencing dramatic increases in costs. Please see 25 most affected states, counties, and ZIP Codes in charts below:
States
| Rank | State/Territory | Average Current Cost of Insurance
(Legacy Rate) |
Average Risk-based Cost of Insurance
(Risk Rating 2.0) |
Premium Increase %
|
|
| 1 | HAWAII | $ 1,437 | $ 3,653 | 154.1% | |
| 2 | WEST VIRGINIA | $ 1,133 | $ 3,074 | 171.2% | |
| 3 | CONNECTICUT | $ 1,590 | $ 3,000 | 88.6% | |
| 4 | MAINE | $ 953 | $ 2,700 | 183.2% | |
| 5 | NEW HAMPSHIRE | $ 1,216 | $ 2,545 | 109.2% | |
| 6 | GUAM | $ 1,449 | $ 2,438 | 68.3% | |
| 7 | VERMONT | $ 1,197 | $ 2,248 | 87.7% | |
| 8 | FLORIDA | $ 958 | $ 2,213 | 131.1% | |
| 9 | KENTUCKY | $ 1,060 | $ 2,201 | 107.6% | |
| 10 | NEW YORK | $ 1,184 | $ 2,197 | 85.5% | |
| 11 | MISSISSIPPI | $ 858 | $ 2,137 | 149.1% | |
| 12 | NEW JERSEY | $ 1,081 | $ 2,129 | 97.0% | |
| 13 | MASSACHUSETTS | $ 1,269 | $ 2,097 | 65.2% | |
| 14 | SOUTH DAKOTA | $ 937 | $ 2,062 | 120.0% | |
| 15 | PENNSYLVANIA | $ 1,075 | $ 2,060 | 91.6% | |
| 16 | ALABAMA | $ 927 | $ 2,051 | 121.3% | |
| 17 | MISSOURI | $ 978 | $ 2,038 | 108.3% | |
| 18 | OREGON | $ 936 | $ 1,969 | 110.4% | |
| 19 | LOUISIANA | $ 813 | $ 1,904 | 134.1% | |
| 20 | MINNESOTA | $ 943 | $ 1,832 | 94.2% | |
| 21 | WASHINGTON | $ 918 | $ 1,782 | 94.2% | |
| 22 | ILLINOIS | $ 1,039 | $ 1,697 | 63.2% | |
| 23 | CALIFORNIA | $ 901 | $ 1,689 | 87.5% | |
| 24 | OKLAHOMA | $ 876 | $ 1,683 | 92.2% | |
| 25 | IOWA | $ 867 | $ 1,679 | 93.7% | |
| USA | ALL STATES AND TERRITORIES | $ 888 | $ 1,808 | 103.5% |
Counties (with over 1,000 policies in force)
| Rank | State | County | Average Current Cost of Insurance
(Legacy Rate) |
Average Risk-based Cost of Insurance
(Risk Rating 2.0) |
Premium Increase % |
| 1 | LA | PLAQUEMINES PARISH | $ 842 | $ 5,431 | 545.3% |
| 2 | LA | ST. MARY PARISH | $ 1,074 | $ 5,226 | 386.3% |
| 3 | FL | FRANKLIN COUNTY | $ 1,664 | $ 5,195 | 212.3% |
| 4 | FL | MONROE COUNTY | $ 1,759 | $ 4,622 | 162.7% |
| 5 | CA | SONOMA COUNTY | $ 1,404 | $ 4,464 | 217.9% |
| 6 | ME | YORK COUNTY | $ 1,128 | $ 4,247 | 276.4% |
| 7 | FL | COLLIER COUNTY | $ 1,053 | $ 3,980 | 277.9% |
| 8 | FL | LEE COUNTY | $ 1,285 | $ 3,965 | 208.6% |
| 9 | LA | LAFOURCHE PARISH | $ 929 | $ 3,909 | 320.6% |
| 10 | FL | CHARLOTTE COUNTY | $ 1,428 | $ 3,687 | 158.2% |
| 11 | LA | VERMILION PARISH | $ 1,035 | $ 3,673 | 254.7% |
| 12 | CA | MARIN COUNTY | $ 1,413 | $ 3,652 | 158.5% |
| 13 | LA | TERREBONNE PARISH | $ 873 | $ 3,536 | 304.9% |
| 14 | CA | SANTA CRUZ COUNTY | $ 1,408 | $ 3,502 | 148.7% |
| 15 | HI | HONOLULU COUNTY | $ 1,549 | $ 3,377 | 118.1% |
| 16 | CT | NEW HAVEN COUNTY | $ 1,635 | $ 3,259 | 99.3% |
| 17 | FL | PINELLAS COUNTY | $ 1,538 | $ 3,258 | 111.9% |
| 18 | NJ | PASSAIC COUNTY | $ 1,826 | $ 3,162 | 73.1% |
| 19 | LA | IBERIA PARISH | $ 918 | $ 3,160 | 244.2% |
| 20 | FL | CITRUS COUNTY | $ 1,492 | $ 3,147 | 111.0% |
| 21 | CT | NEW LONDON COUNTY | $ 1,598 | $ 3,081 | 92.8% |
| 22 | CT | MIDDLESEX COUNTY | $ 1,678 | $ 3,080 | 83.6% |
| 23 | CT | FAIRFIELD COUNTY | $ 1,620 | $ 2,970 | 83.3% |
| 24 | SC | COLLETON COUNTY | $ 1,003 | $ 2,932 | 192.4% |
| 25 | NJ | MERCER COUNTY | $ 1,332 | $ 2,814 | 111.3% |
| AVG | USA | ALL STATES AND TERRITORIES | $ 888 | $ 1,808 | 103.5% |
ZIP Codes (with over 250 policies in force)
| Rank | State | Community | ZIP Code | Average Current Cost of Insurance
(Legacy Rate) |
Average Risk-based Cost of Insurance
(Risk Rating 2.0) |
Premium Increase % |
| 1 | FL | Naples | 34102 | $ 2,228 | $ 8,067 | 262% |
| 2 | FL | Boca Grande | 33921 | $ 1,681 | $ 7,766 | 362% |
| 3 | FL | Belleair Beach | 33786 | $ 3,087 | $ 7,690 | 149% |
| 4 | FL | Marco Island | 34145 | $ 1,601 | $ 7,553 | 372% |
| 5 | FL | Clearwater Beach | 33767 | $ 2,999 | $ 7,402 | 147% |
| 6 | FL | Key Biscayne | 33149 | $ 3,423 | $ 7,097 | 107% |
| 7 | FL | Longboat Key | 34228 | $ 2,358 | $ 7,058 | 199% |
| 8 | FL | Captiva | 33924 | $ 2,437 | $ 6,987 | 187% |
| 9 | LA | Des Allemands | 70030 | $ 784 | $ 6,677 | 752% |
| 10 | FL | Cocoa Beach | 32931 | $ 771 | $ 6,638 | 761% |
| 11 | FL | Sarasota | 34242 | $ 2,871 | $ 6,453 | 125% |
| 12 | FL | Fort Pierce | 34949 | $ 1,112 | $ 6,428 | 478% |
| 13 | FL | Saint Petersburg | 33706 | $ 2,988 | $ 6,426 | 115% |
| 14 | FL | Sarasota | 34236 | $ 2,561 | $ 6,386 | 149% |
| 15 | HI | Hilo | 96720 | $ 1,251 | $ 6,019 | 381% |
| 16 | FL | Islamorada | 33036 | $ 1,960 | $ 6,016 | 207% |
| 17 | FL | Saint Petersburg | 33715 | $ 1,170 | $ 6,003 | 413% |
| 18 | FL | Key Colony Beach | 33051 | $ 2,412 | $ 5,938 | 146% |
| 19 | FL | Indian Rocks Beach | 33785 | $ 2,100 | $ 5,847 | 178% |
| 20 | FL | Anna Maria | 34216 | $ 2,108 | $ 5,793 | 175% |
| 21 | FL | Fort Myers | 33901 | $ 1,229 | $ 5,722 | 366% |
| 22 | FL | Bradenton Beach | 34217 | $ 2,539 | $ 5,717 | 125% |
| 23 | FL | Naples | 34103 | $ 1,554 | $ 5,706 | 267% |
| 24 | FL | Tampa | 33606 | $ 2,207 | $ 5,693 | 158% |
| 25 | FL | Stuart | 34996 | $ 1,009 | $ 5,692 | 464% |
| AVG | USA | ALL STATES AND TERRITORIES | ALL | $ 888 | $ 1,808 | 103.5% |