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FEMA Releases Information on Full-Risk Rates

As of April 19, 2023, FEMA has released more information on Risk Rating 2.0 full-risk rates.  New datasets can now be downloaded online, via FEMA’s website:  These datasets reveal the cost of flood Insurance for single-family homes under Risk Rating 2.0, comparing full-risk rates to current rates.   Data provided includes single-family policies renewed before September 30, 2022; these datasets do not include new policies or renewals written under Risk Rating 2.0 after September 30, 2022.

There are two downloadable spreadsheets:

  1. Exhibit 1 – This table demonstrates each state’s number of policies in force, average replacement cost value, and the percentage of policies with exposures to specific flood perils, per $1,000 interval of full-risk rate premiums.
  2. Exhibit 2, 3, and 4 – These tables demonstrate current cost of insurance vs. full-risk rates at the state, county, and ZIP code levels. These tables also show the number of single-family policies and the percentage of policies with exposures to specific flood perils at state, county, and ZIP code levels.

Full-risk rates by state, county, and ZIP code have been long requested by CSFI, prior to the implementation of Risk Rating 2.0 on October 1, 2021.  We acknowledge FEMA’s step towards transparency through this data release.  Previously, a public records request by The Advocate demonstrated that rates in Louisiana would increase by 122% on average, from $766 to $1,700.  Otherwise, FEMA had not made data available on full-risk rates.

Now, policyholders and policymakers can better understand full-risk rates for their states, counties, and ZIP Codes.  Nationally, current rates are $808 and full-risk rates will be $1,808, on average.  For states, counties, and ZIP Codes with largest quantity of policies in force – in Florida, an average policy increases from $958 to $2,213 (by 131%); in Harris County, an average policy increases from $776 to $1,405 (by 81%); an average policy in ZIP Code 77573 increases from $706 to $1,360 (by 92%).

All states will see increases under Risk Rating 2.0, although increases vary widely.  For example, an average policy in West Virginia increases by 171%, but an average policy in Maryland only increases by 22%.  There are wider ranges at county and ZIP Code levels.  CSFI encourages you to review full-risk rates for your state, county, and ZIP Code by using FEMA’s new datasets to better understand Risk Rating 2.0 Impacts.