Menu

Flood insurance cost · ZIP 08402 · NJ

Flood insurance cost in ZIP 08402 (Margate City, NJ)

What homeowners with a National Flood Insurance Program policy actually pay, from FEMA's records of 2,497 home policies in force on August 31, 2026.

ZIP code 08402 (Margate City, NJ)Policies in force on Aug 31, 2026

Median annual cost of NFIP flood insurance for a home

$1,490a year

Half of insured homes paid between $1,149 and $2,001. That is 6% more than the Atlantic County median ($1,411). Most insured homes here are rated in zone AE (98%).

$0$1,149 · $1,490 · $2,001$2,501
+11.9% vs Aug 31, 2025 (median $1,332)
2,497home policies in force
$1,647average cost (mean)
98%of insured homes in high-risk zones (A, V)
$250,000median building coverage

This is what policyholders paid, not a quote. Two neighbors can pay very different prices: NFIP prices depend on the building (elevation, foundation, number of floors, replacement cost), the coverage and deductible chosen and the distance to water (FEMA FloodSmart: premium factors). For a price for your building, ask an insurance agent. Private flood insurance is not included in these figures.

Cost by flood zone in ZIP code 08402

The flood zone on FEMA's map is one of the main price factors. Median and middle half of what insured homes paid, by the zone used to rate the policy.

Flood zoneMedianMiddle half (25th–75th percentile)AveragePoliciesvs last year
Zone AE
High risk		$1,503$1,149–$2,013$1,6532,442 (98%)+12.2%
Zone X
Moderate to low risk		$1,268$1,227–$1,451$1,29746 (2%)+16.8%

Not shown (fewer than 10 home policies): VE, A, AO, AH, A99/AR, D. Shares are of all insured homes; a few policies have no rated zone. "vs last year" compares medians with policies in force a year earlier.

Cost by type of building

All NFIP policies in force in ZIP code 08402, by what they insure.

Type of buildingPoliciesMedianAverage
Single-family home2,348$1,502$1,661
2–4 unit building72$2,174$2,055
Condo or apartment unit77$710$859
Whole residential building (5+ units or condo association)
One policy covers the whole building, so the cost is much higher than for a single home.		223$2,911$4,877
Non-residential building or unit
Businesses, churches, farm buildings and other non-residential property.		61$5,130$5,992

Not shown (fewer than 10 policies): manufactured (mobile) home.

2,781NFIP policies in force, any building
4,288insured units (condo association policies count every unit)
72%of home policies also cover contents
$100,000median contents coverage, when bought

One year on: ZIP code 08402

Policies in force on August 31, 2026 compared with a year earlier. Nationwide, practically all policies in both years carry FEMA's Risk Rating 2.0 occupancy codes, so both years use the same pricing system. The policies are not the same: some were new, some lapsed.

Aug 31, 2025Aug 31, 2026Change
Home policies in force2,6222,497−4.8%
Median annual cost$1,332$1,490+11.9%
Average annual cost$1,501$1,647+9.7%
All policies in force (any building)2,9102,781−4.4%

Flood claims history

Since 1978, NFIP policyholders in ZIP 08402 have filed 3,142 flood claims. 2,657 received a payment, for a total of $75.7 million (an average of $28,502 per paid claim). The year with the most claims was 2012 (2,116 claims). Amounts are in dollars of the time, not adjusted for inflation.

01k2k3k4k1978: 26 claims, 19 paid, $26,309 in total1979: 25 claims, 15 paid, $14,430 in total1980: 20 claims, 15 paid, $37,826 in total19801984: 74 claims, 36 paid, $134,946 in total1985: 84 claims, 57 paid, $353,610 in total19851987: 20 claims1989: 31 claims, 23 paid, $44,743 in total19901991: 18 claims, 11 paid, $52,543 in total1992: 459 claims, 395 paid, $4,954,316 in total19921993: 20 claims, 15 paid, $96,510 in total1994: 28 claims, 17 paid, $107,747 in total1996: 12 claims1997: 12 claims1998: 32 claims, 20 paid, $133,091 in total20002009: 16 claims, 11 paid, $154,887 in total2010: 12 claims20102011: 18 claims2012: 2,116 claims, 1,934 paid, $69,085,405 in total20122016: 25 claims, 15 paid, $63,094 in total2020
Flood claims per year of loss, 1978–2026. Years with fewer than 10 claims are left blank. Hover a bar for details.
All years with at least 10 claims (19)

Swipe the table sideways to see all columns.

Year of lossClaimsPaid claimsTotal paidAverage per paid claim
20162515$63,094$4,206
20122,1161,934$69,085,405$35,722
201118<10––
201012<10––
20091611$154,887$14,081
19983220$133,091$6,655
199712<10––
199612<10––
19942817$107,747$6,338
19932015$96,510$6,434
1992459395$4,954,316$12,543
19911811$52,543$4,777
19893123$44,743$1,945
198720<10––
19858457$353,610$6,204
19847436$134,946$3,748
19802015$37,826$2,522
19792515$14,430$962
19782619$26,309$1,385

From 2016 to 2026: 25 claims (counting only years with at least 10). 2026 is a partial year. Claims are counted where the insured property is; they include buildings and contents, homes and businesses.

NFIP communities in this ZIP code

Margate City (2,493 home policies). A ZIP code can cross city and county lines; each policy is counted once, in the ZIP code reported for the insured building.