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How Much Flood Insurance Do You Need?

Homeowners and renters living in high-risk flood areas should consider how much insurance they need—not just the required amount. Homeowners and renters insurance policies will not pay out for any damages that resulted from a flood. Therefore, if you think your dwelling or personal possessions are covered by either of those, you should think again.
You always want your flood insurance coverage to equal the value of your home and possessions. The value of these should be determined based on their worth at the time you buy your policy. For example, if you bought a $2,000 built-in refrigerator in 2005, estimate its value based on what that is worth today.
We compiled a list of the median home value in each state to show how house structure values may vary. Keep in mind this doesn't include possessions. We included total value of flood damages recorded in the state during Water Year 2014 (October 1, 2013 – September 30, 2014). If your state tends to be prone to a lot of flood damage costs, consider getting enough flood insurance to cover your home and possessions.

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