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Mandy Sleight has over 15 years of insurance knowledge and expertise in auto, home, life, health, pet, supplemental benefits, and other insurance products. She’s a sought-after insurance expert, appearing in Bankrate.com, Moneygeek.com, U.S. News & World Report, Reviews.com, CNET, and other publications, and she's been writing for Compare.com since 2023.
Mandy uses her background and experience working for well-known insurance companies like State Farm and Nationwide Insurance to create engaging and easy-to-understand content that helps readers make smarter insurance choices that have a positive effect on their budgets and finances.
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Lequita Westbrooks is an insurance editor at Compare.com. Her writing and editing experiences span several industries, including insurance, personal finance, higher education, and more. She excels at explaining complex topics like auto insurance in simple, easy-to-understand language and is passionate about helping readers save money. Lequita graduated from the University of South Florida, where she earned her Bachelor’s degree in English.
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If you’re a Virginia homeowner wondering if you need flood insurance or if you should switch insurers, you’re not alone. Standard home insurance doesn’t cover flood damage, and Virginia’s flood risks are diverse and growing.
From coastal storm surges along the Chesapeake Bay to inland flash floods in the Shenandoah Valley, the state faces a wide range of flood threats. Updated flood maps and a new Risk Rating 2.0 pricing system from the Federal Emergency Management Agency (FEMA) could both affect your flood risk and what you pay for coverage.[1] [2]
Here’s what you need to know about Virginia’s unique flood risks to protect your home and budget.
The average cost of flood insurance in Virginia is $924 per year.
Flood insurance is mandatory if you have a federally backed mortgage and live in a Special Flood Hazard Area (SFHA).
New FEMA flood maps are placing more Virginia homes in high-risk zones, requiring flood insurance for some homeowners.
Flood insurance is essential for many Virginia homeowners. If your home is in a Special Flood Hazard Area (SFHA) and you have a federally backed mortgage, federal law requires you to have flood insurance. It’s optional for everyone else. But it’s important to remember that homeowners insurance doesn’t cover flood damage.
Even if you don’t live in a mapped high-risk flood zone, flooding can still happen. For example, when Hurricane Matthew hit in 2016, many of the 2,000 Virginia homes that flooded were outside FEMA’s mapped flood zones. Hurricanes like Ida and Helene also caused millions of dollars in damage to central and western Virginia.[3]
Despite the risk, only about 3% of Virginia homeowners have flood insurance. The average National Flood Insurance Program (NFIP) flood insurance claim payout in Virginia over the past decade was about $16,800. Yet the average disaster assistance payout for those without flood coverage was only $3,900.
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While Virginia doesn’t set statewide mandates, federal rules apply based on your home’s location and loan type.
If your property sits in a high-risk flood zone and you have a federally backed loan through the Federal Housing Administration, Department of Veterans Affairs, Department of Agriculture, Fannie Mae, or Freddie Mac, the state requires flood insurance.
Some Virginia localities, like Norfolk, have stricter floodplain-management rules, requiring new construction in flood-prone areas to be elevated several feet above the base flood level.[4]
Here’s an overview of federal flood insurance requirements for high-risk zones.
FEMA flood zones and maps are changing in Virginia. As of July 2025, nearly 180 Richmond homes and businesses are now in high-risk zones, requiring flood insurance. The agency regularly reviews and updates flood maps for different counties, which can shift a property’s flood zone classification and insurance obligations.
If you have a federally backed mortgage and your home is in a FEMA-designated A or V zone, you must buy flood coverage. Lenders must verify that your coverage equals one of the following:[5]
100% of your home’s replacement cost
The maximum NFIP limit (up to $250,000 building coverage)
The outstanding principal balance of your loan
Flood zones are how FEMA categorizes your home’s risk of flooding, whether you’re required to buy flood insurance, and how much it will cost. FEMA classifies flood zones into five categories: high risk, moderate risk, low risk, underdetermined, and coastal high risk.[6]
Flood zones A, AE, V, and VE: High-risk zones with a 1% annual chance of flooding require flood insurance
Flood zones C, B, and X: Low and moderate-risk zones with less than a 1% annual chance of a flood event, usually a 500-year or greater floodplain
Flood zone D: Represents areas where flooding is possible, but FEMA hasn’t determined the risk for this zone
Even properties in low-risk areas have some flood exposure, so it’s important to understand your zone. Use the Virginia Flood Risk Information System (VFRIS) to check your flood zone.
Virginians can purchase flood insurance through the NFIP or a private flood insurance company. Many insurers sell NFIP policies through FEMA’s Write Your Own (WYO) Program, while others offer private insurance with different limits and features.
The table below compares the NFIP and private flood insurance options to help you choose the best option for your needs.
Factor  | NFIP | Private Flood Insurance |
|---|---|---|
| Coverage limits |
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| Average costs |
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| Waiting periods |
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| Additional benefits |
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The NFIP has set coverage caps and a mandatory 30-day waiting period before coverage begins. Private coverage offers higher limits, more benefits, and shorter waiting periods, but prices can vary.
About 26 insurers in Virginia participate in the WYO Program, including companies like Allstate, Auto-Owners, NGM, Selective, and USAA.[7]
In Virginia, the average NFIP flood insurance premium is about $924 per year. Private flood insurance costs vary widely by insurance company, coverage choices, limits, and your flood zone.
Several factors influence your flood insurance cost in Virginia:
Flood zone designation: Flood insurance is more expensive in high-risk flood zones than in low- or moderate-risk zones.
Home elevation, age, and construction type: Elevated or newer homes built to withstand storms usually result in cheaper flood insurance premiums.
Coverage limits and deductibles: The more coverage you need, the more you’ll pay for flood insurance. But you can choose a flood insurance deductible of up to $10,000 can help offset high premiums.
FEMA Risk Rating 2.0: Under FEMA’s updated pricing system, about 45% of Virginia NFIP policyholders saw their premiums decrease. The remaining 48% experience rate increases of $120 or less per year. Another 7% saw larger increases.
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NFIP flood insurance in Virginia typically covers direct physical damage caused by flooding, but it doesn’t pay for everything. Understanding what’s covered and what’s not is key to protecting your home and belongings.
Flood insurance covers:
Structural damage, including your home’s foundation, walls, floors, and built-in fixtures
Electrical and plumbing systems, such as wiring, outlets, and pipes
Built-in appliances, like your heating, ventilation, and air conditioning (HVAC), central air, water heater, and permanently installed appliances
Personal property, including clothing, electronics, and furniture, if you have contents coverage
Flood insurance doesn’t cover:
Sewer or drain backup caused by a flood event
Temporary living expenses, such as hotel stays while your home is repaired
Outdoor property, including fences, decks, landscaping, and swimming pools
Business interruption due to flooding that cause you to lose income
Private flood insurance may cover things NFIP insurance doesn’t, such as additional living expenses, detached structures, or higher personal property limits.
Buying flood insurance in Virginia starts with knowing your flood risk and exploring your coverage options. You can buy your coverage through the NFIP or a private insurer. It’s you choose a private insurer, consider working with a licensed Virginia insurance agent to find the best fit for your home and budget.
Follow these steps to get flood insurance in Virginia:
Determine your flood zone. Use FEMA’s Flood Map Service Center or VFRIS to determine your flood zone.
Compare NFIP and private options. NFIP policies offer standard coverage, while private insurers may provide flexible deductibles, higher coverage limits, and broader protection.
Gather multiple quotes. Compare rates, coverage options, terms, and exclusions from multiple companies.
Choose coverage limits and deductibles. Buy enough coverage to protect your home and belongings. Consider a higher deductible to keep premiums affordable.
Account for waiting periods. NFIP policies have a 30-day waiting period, while private insurers often have shorter waits of 15 days or less.
Don’t wait to buy flood insurance. You usually can’t buy a policy or change your coverage once a big storm is on the way — you’ll have to wait until after the storm. If you’re switching insurers, there’s no waiting period as long as your coverage dates align to avoid a lapse in coverage.
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Flood insurance can be a key part of protecting your home in Virginia, particularly with increasing flood risks across the state. Here are answers to common questions about Virginia flood insurance.
It depends. Flood insurance is required in Virginia if your home is in a high-risk flood zone and you have a federally backed mortgage. Otherwise, it’s optional but still strongly recommended.
No. Homeowners insurance doesn’t cover flooding in Virginia. You need a separate flood insurance policy to protect against losses from rising water.
The average NFIP flood insurance cost in Virginia averages $924 per year, or $77 per month, according to our research. Keep in mind that rates can vary by location, flood zone, home details, and coverage.
You can check FEMA’s Flood Map Service Center, the Virginia Flood Risk Information System (VFRIS), or contact your local planning or zoning office to find out what flood zone your home is in.
Yes. Virginia allows private flood insurance as an alternative to NFIP coverage. Many mortgage lenders also accept private flood insurance that meets federal flood insurance requirements.
Yes. Virginia is prone to flooding — especially in coastal areas, near rivers, and in low-lying inland regions. Heavy rains, hurricanes, and tropical storms increase the risk of flooding across the state.
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Mandy Sleight has over 15 years of insurance knowledge and expertise in auto, home, life, health, pet, supplemental benefits, and other insurance products. She’s a sought-after insurance expert, appearing in Bankrate.com, Moneygeek.com, U.S. News & World Report, Reviews.com, CNET, and other publications, and she's been writing for Compare.com since 2023.
Mandy uses her background and experience working for well-known insurance companies like State Farm and Nationwide Insurance to create engaging and easy-to-understand content that helps readers make smarter insurance choices that have a positive effect on their budgets and finances.
Lequita Westbrooks is an insurance editor at Compare.com. Her writing and editing experiences span several industries, including insurance, personal finance, higher education, and more. She excels at explaining complex topics like auto insurance in simple, easy-to-understand language and is passionate about helping readers save money. Lequita graduated from the University of South Florida, where she earned her Bachelor’s degree in English.
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