Flood Insurance in NYC: Zones, Maps and Costs

You need flood insurance in NYC if the building is in a FEMA high-risk flood zone (zones starting with A or V) and you have a federally backed mortgage, because federal rules make it a condition of the loan. Everyone else can buy it voluntarily, and should think hard about it: standard homeowners and renters policies do not cover flood.

Here is how to check a property’s zone, what the National Flood Insurance Program (NFIP) pays for, how private policies differ, and how many NYC tax lots touch the floodplain.

Step 1: check the flood zone

1. 1

   Search the FEMA Flood Map Service Center

   The FEMA Flood Map Service Center is the official source of flood maps for the NFIP. Type the address in the search box to see the effective Flood Insurance Rate Map (FIRM) panel and zone.
2. 2

   Use FloodHelpNY for an NYC-specific view

   FloodHelpNY, run by the nonprofit Center for NYC Neighborhoods, shows a home’s flood risk and explains insurance, elevation certificates and ways to lower risk. The City’s flood map site links to it.
3. 3

   Check both NYC maps

   NYC has two maps in play. The City’s flood map site says insurance rates are based on the 2007 effective FIRMs until new maps are issued. The 2015 Preliminary FIRMs show a larger floodplain; the City appealed them in 2015 and FEMA agreed in 2016 to revise them. Know where the property stands on both, because the floodplain is expected to grow.
4. 4

   Look at the tax lot in PLUTO

   The City’s PLUTO dataset, which feeds Roofy’s building facts, has two flood flags per lot. See PLUTO fields explained and look the address up on Roofy’s building lookup.

What the flood zone letters mean

How many NYC lots are in the floodplain?

We counted the tax lots PLUTO flags as touching the 1% annual chance floodplain (often called the 100-year floodplain) on each map. The preliminary 2015 maps almost double the count citywide, driven by Brooklyn.

When a lender requires flood insurance

If you own a home in a high-risk zone (a Special Flood Hazard Area) with a government-backed mortgage, flood insurance is required as a condition of the loan. The City’s flood map site lists other triggers in high-risk areas: past FEMA aid, an SBA disaster loan, or registration in the Build It Back program. FEMA’s FloodSmart site says the requirement that comes with federal disaster aid is tied to the property, not the owner, so it can pass to the next owner. Lenders may require flood coverage outside high-risk zones too.

Your homeowners policy does not satisfy this requirement. DFS and FEMA both say flood is excluded from standard homeowners and renters policies.

What an NFIP policy covers

• Building coverage up to $250,000 for a home: structure, plus items like the furnace, water heater, air conditioner and floor surfaces, according to DFS.
• Contents coverage up to $100,000, bought separately for an extra premium.
• Basements are limited. FEMA says belongings kept in a basement are not covered, and DFS warns coverage for basements and crawlspaces is limited. That matters in NYC, where many houses have finished basements.
• 30-day wait. Coverage normally starts 30 days after purchase, so you can’t buy it when a storm is forecast. FloodSmart lists exceptions: no wait when you buy while making, increasing, extending or renewing a mortgage, or when you change coverage at renewal, and a one-day wait if your property was newly mapped into a high-risk zone and you buy within 12 months of the map update.

What it costs

DFS cites FEMA’s figure that the average homeowners flood premium is about $700 a year, but your price can be very different. FEMA prices each building on where it is (distance to water, ground elevation), how it is built (foundation, first-floor height, elevated equipment, flood openings) and the coverage and deductible you pick. For most existing policyholders, FEMA says premiums cannot rise more than 18% to 25% a year. Get a quote for the specific building before you buy, especially in an A or V zone. If you pay through escrow, the premium is added to your monthly payment; the escrow calculator shows the effect.

NFIP or private flood insurance?

You can buy NFIP coverage from an insurance agent; FEMA says more than 47 private companies sell and service NFIP policies through its Write Your Own program while FEMA keeps the risk. Separately, some private insurers sell their own flood policies.

If your home would cost more than $250,000 to rebuild, ask about excess flood coverage above the NFIP limit. Whatever you choose, confirm in writing that your lender accepts it before closing.

Condos, co-ops and renters

In an apartment building, flood coverage on the structure is the building’s decision. Ask the managing agent whether the condo or co-op carries flood insurance and for how much. Unit owners and renters can buy contents coverage; renters contents are also capped at $100,000. Ground-floor and basement units carry the most risk.

Lower your risk and your premium

• Get an elevation certificate. It records the height of your lowest floor relative to expected flood levels. It must be completed by a licensed professional; FloodHelpNY says one can cost $500 to $800 in uncomplicated cases, and a previous owner may already have one, so ask.
• Ask about free programs. FloodHelpNY runs a home resiliency audit program and a free backwater valve installation program. Both are limited to low- to moderate-income households in specific neighborhoods, and availability changes, so check the site for current eligibility.
• Raise equipment. FEMA counts elevated machinery and equipment, and flood openings, among the building features that affect your premium.
• Check flood history before you buy. Ask the seller, read the property condition disclosure, and have your home inspector look for water lines and damp basements.