A number of factors are considered when determining your annual flood insurance premium. These factors include:

• Flood risk (e.g., your flood zone)

• The type of coverage being purchased (e.g. building and contents coverage)

• The deductible and amount of building and contents coverage

• The location of your structure

• The design and age of your structure

• The location of your structure’s contents (e.g. Are your utilities elevated?)

With Risk Rating 2.0: Equity in Action, FEMA has the capability and tools to address rating disparities by incorporating more flood risk variables. These include flood frequency, multiple flood types — river overflow, storm surge, coastal erosion, and heavy rainfall — and distance to a water source, as well as property characteristics such as elevation and the cost to rebuild.