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Facts + Statistics: Flood insurance

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Flood damage is excluded under standard homeowners and renters insurance policies. However, flood coverage is available as a separate policy from the National Flood ºÚÁϲ»´òìÈ Program (NFIP), administered by the Federal Emergency Management Agency (FEMA), and from many private insurers. Industry observers note that many properties that should have flood coverage do not. According to a 2023 Triple-I/Munich Re Consumer Survey, 22 percent of homeowners reported that they are at risk of flood. Of those, 78 percent purchased flood insurance—35 percent from a private insurance provider and 43 percent through the National Flood ºÚÁϲ»´òìÈ Program.

Top 10 Most Significant Flood Events By National Flood ºÚÁϲ»´òìÈ Program Payouts (1)

Ìý

Rank Date Event Number of
paid losses		 Amount paid
($ millions)
when occurred		 Amount paid
($ millions)
in 2024 dollars		 Average paid loss
in 2024 dollars
1 Aug. 2005 Hurricane Katrina 168,200 $16,330Ìý $26,247Ìý $156,046Ìý
2 Oct. 2012 Superstorm Sandy 132,800 8,967 12,236 92,139Ìý
3 Sep. 2017 Hurricane Harvey 77,100 9,015 11,591 150,337Ìý
4 Sep. 2022 Hurricane Ian 48,000 4,300 4,555 94,896Ìý
5 Sep. 2008 Hurricane Ike 46,900 2,711 3,911 83,390Ìý
6 Aug. 2016 Louisiana severe storms and flooding 27,600 2,522 3,305 119,746Ìý
7 Sep. 2004 Hurricane Ivan 31,000 1,671 2,778 89,613Ìý
8 May 2001 Tropical Storm Allison 30,900 1,110 1,968 63,689Ìý
9 Aug. 2011 Hurricane Irene 43,800 1,344 1,873 42,763Ìý
10 Sep. 2024 Hurricane Helene 43,700 1,779 1,779 40,709Ìý

(1) Defined by the National Flood ºÚÁϲ»´òìÈ Program as an event that produces at least 1,500 paid losses, since 1978.Ìý As of January 2025.

Source: Federal Emergency Management Agency (FEMA) National Flood ºÚÁϲ»´òìÈ Program (NFIP) data; analysis courtesy of Aon.

View Archived Tables

Private flood insurance

Private Flood ºÚÁϲ»´òìÈ, 2017-2023

($000)

Year Net premiums
written (1)		 Annual percent
change		 Combined
ratio (2)		 Annual point
change (3)
2017 $470,961 69.5% 186.1 92.3 pts.
2018 540,875 14.8 55.0 -131.1
2019 287,197 -46.9 58.5 3.5
2020 302,444 5.3 50.7 -7.8
2021 524,209 73.3 65.0 14.3
2022 774,250 47.7 70.9