Filing a single flood insurance claim typically does not automatically increase your premium under the NFIP. However, properties with repeated flood claims may see premium increases over time, particularly under FEMA’s Risk Rating 2.0 system, which factors in claims history. Properties classified as Severe Repetitive Loss (two or more claims exceeding the building’s value) or Repetitive Loss (two or more claims of $1,000+ within a 10-year period) face higher rates.
One of the most effective ways to manage long-term premium costs is to invest in flood mitigation improvements after a claim. Elevating your home, installing flood vents, or improving drainage can reduce future risk and lower your premium. Some communities also offer mitigation grants through FEMA’s Hazard Mitigation Assistance programs. Contact Bridgeway Insurance to discuss how mitigation can affect your specific rate.
