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The National Flood Insurance Program’s (NFIP) Pricing Methodology

This page describes the resources and guidance around the implementation of NFIP’s pricing methodology.


 

Illustrated house in rising flood water with dollar sign icon
Person reviewing receipts and forms while using a calculator

About the pricing methodology

NFIP’s pricing approach, Risk Rating 2.0, was launched in April 2021. This approach uses industry best practices and advanced tools to help FEMA set individualized and easy-to-understand rates that better match a property's flood risk.

Agent reviewing forms with client

Underwriting policies

The Flood Insurance Manual explains the NFIP underwriting policies and steps for applying the NFIP's approach effectively and consistently. 

The Risk Rating 2.0: Industry Transition Memo outlines how a policy rated before the new pricing approach is now calculated.

Get more info

Risk Rating 2.0 Pricing Methodology Underwriting Forms

  • Risk Rating 2.0 Pricing Methodology Underwriting Forms
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    PDF Screenshot: Flood Insurance Application

    An application for flood insurance coverage from the National Flood Insurance Program for new policies effective on or after Oct. 1, 2021.

  • NFIP Flood Insurance General Change Endorsement – Risk Rating 2.0 Pricing Methodology
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    PDF Screenshot: Flood Insurance General Change Endorsement

    This form enables a policyholder to update their insurance policy under Risk Rating 2.0 if there are major changes to the building, a new insurance agent or other important changes.

  • NFIP Flood Insurance Cancellation/Nullification Request Form – Risk Rating 2.0 Pricing Methodology
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    PDF Screenshot: Flood Insurance Cancellation/Nullification Request Form

    This form is used to cancel a flood insurance policy issued under the Risk Rating 2.0 pricing methodology effective on or after Oct. 1, 2021.

Access the Flood Insurance Manual for more info