Risk Rating 2.0 Premium Estimate Maps

Sprinkles^TM Flood Insurance Premium Estimate Maps

Mapping the flood insurance landscape

Sprinkles^TM interactive flood insurance premium estimate maps are true flood insurance rate maps, and are based on the Risk Rating 2.0 pricing approach used in FEMA’s National Flood Insurance Program (NFIP). These maps show how flood insurance rates vary by location based on a standardized home. This apples-to-apples comparison allows you to visualize the flood insurance landscape, so you can target your home search to areas where you can afford the flood insurance.

County Level Sprinkles^TM Premium Estimate Maps

GIS files (shapefiles) are also available for purchase for all counties in the lower 48 states. Previously available online, these maps were viewed over 90,000 times. These GIS files can be structured to include “geographic rate” data you can use to customize premium estimates using the Risk Rating 2.0 Calculator.

Sprinkles^TM premium estimate maps are also available for purchase as GIS files at the county/parish level. A few example county level maps:

How Premiums are Computed under Risk Rating 2.0

Under Risk Rating 2.0, National Flood Insurance Program (NFIP) premiums are computed as the sum of premiums for all flood perils (inland flooding, storm surge, coastal erosion, tsunami risk, and Great Lakes flood risk) plus surcharges and fees. And the premium for each flood peril is a statewide base rate, times geographic multipliers, times structure and contract multipliers.

Geographic multipliers include:

• Distance to the nearest river/stream
• Elevation relative to the nearest river/stream, considering how much the river/stream rises with increased flows
• Drainage area of the nearest river/stream
• Elevation of your home relative to the surrounding topography
• Distance to the waters affected by storm surge
• Distance to the ocean
• Elevation of your home
• Quality of any levee protecting your home from flooding
• Territory (region)

Structure and contract multipliers include:

• How the structure is used (e.g., home vs. commercial structure)
• Number of floors, or floor of residence in an apartment/condo
• Type of foundation
• First floor height
• Whether utilities are located above the first floor
• Deductible
• Coverage limit
• Coverage value
• Concentration risk
• Community Rating System (CRS) discount factor

The higher the multiplier, the higher the premium. And a percent reduction in one multiplier means that same percent reduction in the premium for that peril.

Standardized Home

To make the maps apples-to-apples comparisons of flood insurance rates, premiums were computed using a standardized home using the following assumptions:

For the structure:

• Single family home
• Frame construction
• Slab foundation
• First floor height = 0.5 ft above lowest adjacent grade
• Utilities (“machinery and equipment”) not located above the first floor

For the insurance contract:

• Coverage for first floor or first two floors
• Zero prior claims
• Coverage A value (building replacement cost) = $400,000
• Coverage C value (contents replacement cost) = $150,000
• Coverage A limit = $250,000
• Coverage C limit = $100,000
• Coverage A deductible = $1,250
• Coverage C deductible = $1,000
• Community Rating System (CRS) discount percentage = 0%
• Primary residence
• Standard applicable surcharges and fees

Order a SprinkleDat^TM data sheet for a detailed summary of all the data and calculations behind the premium estimate for your property. SprinkleDat data sheets list the values for base rates and for each multiplier, so you can see exactly what is driving your flood insurance cost, and what you might be able to do to reduce it.

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