The City of Austin is partnering with Del Valle Community Coalition to create a new flood insurance assistance program, which provides as much as $2,000 in financial assistance for Austin homeowners to obtain or maintain flood insurance for one year. This pilot program will focus on high-risk flood areas.
To be eligible for the program, Austin residents must:
- Own their home and live within the 100-year floodplain
- Have household income at or below 140% of the Median Family Income
- Use the funds to obtain, maintain or renew a flood insurance policy
Eligible residents can apply through the Del Valle Community Coalition website at ATXdvcc.org/flood. Applications will be processed on a first-come, first-served basis. If approved, funds will be disbursed directly to an insurance company.
Because Austin participates in the National Flood Insurance Program and the Federal Emergency Management Agency’s Community Rating System, federally backed flood insurance is available to everyone in Austin at up to a 25% discount. The average annual policy in Austin is $670, but policies in floodplain areas typically cost more than $1,000.
Flooding can be financially devastating. The average flood insurance claim in Austin costs $21,000 as of 2021. Damage from flooding is not typically covered by homeowner insurance policies. The federal government may provide resources following a large-scale emergency if certain cost thresholds are met, but homeowners without flood insurance are responsible to pay for any damages caused by flooding to their property.
