![]() FEMA’s National Flood Insurance Program (NFIP) and all federally backed lenders rely on these Ohio flood insurance maps to assess risk, set premiums, and determine who is required to purchase flood insurance. The average cost for Ohio flood insurance in these Low-risk areas is $595 per year. ![]() Cheap flood insurance Ohio « Flood Insurance Cost Ohio FEMA flood zone maps often take years to go into effect after the terrain was studied this gives the impression that the area is “more up to date” than it is. Our recent storms are facts that it can rain anywhere within Ohio, and you should consider getting flood coverage so you are not uninsured when you need it most. FEMA admits that their flood maps only give an idea of part of the risk. Because of all these factors, it is difficult for property owners to know their true risk of flooding. If the area has been developed, there is likely more concrete, creating a barrier for land that previously might have absorbed the massive downpour. Many of these maps are over 40 years old. One more note on these low-risk flood zone maps. Are you willing to gamble your financial future by forgoing flood insurance coverage? That $5K you get from the government? It comes as a loan, and you will need to pay it back. The average cost of damage to one’s property after a flood is $38,000+.
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