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Home insurance & flood costs in ZIP 38138 (Germantown, TN)

Plain facts for homeowners in Germantown: what insurance cost here in recent years, how often claims were paid, and what flood coverage runs.

See the numbers

Historical averages, not a quote. Updated Oct 2026.

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ZIP 38138 at a glance

Four numbers most homeowners ask about first.

$2,809
Avg. home premium

Per policy in 2022 (inflation-adjusted), HO-3/HO-5 policies.

$806
Avg. flood policy

Single-family NFIP policies that took effect in 2025.

1.23%
Nonrenewal rate

Share of policies not renewed by insurers in 2022. Typical U.S. ZIP: 0.81%.

7.7%
Claim frequency

Share of policies with a paid claim in 2022. Typical U.S. ZIP: 4.0%.

ZIP 38138 in numbers
$16,857
average paid claim (2022)
+4%
premium change 2018–2022, after inflation
1.04%
cancelled by insurers mid-term (2022)
211
single-family NFIP policies (2025)

What homeowners here pay

Each block pairs a short explanation with the data behind it.

Homeowners insurance

U.S. Treasury FIO, HO-3/HO-5 policies, 2018–2022

The average premium per policy in ZIP 38138 was $2,809 in 2022, 33% above the Shelby County typical ZIP ($2,118) and 81% above the typical U.S. ZIP code ($1,551). After adjusting for inflation, it rose 4% between 2018 and 2022. About 7.7% of policies here had a paid claim in 2022, and insurers chose not to renew 1.23% of policies.

Shelby County overview

Average premium per policy

Inflation-adjusted dollars, Treasury FIO
ZIP 38138ShelbyU.S. typical ZIP

Flood insurance

FEMA NFIP single-family policies, 2022–2025

The average single-family NFIP flood policy that took effect in ZIP 38138 in 2025 cost $806, based on 211 policies, compared with $709 in 2022. About 42% of them are for homes in high-risk A or V zones.

Average flood policy cost

Full cost incl. fees, by year the policy took effect

Policies by flood zone, 2025

211 policies
A zones 42%X/B/C zones 58%V zones 0%

Claims & hazards

Treasury FIO claim frequency; FEMA National Risk Index for Shelby County

The chart shows the share of homeowners policies in ZIP 38138 with at least one paid claim each year. FEMA rates hazards for the whole county, not single ZIP codes. The top hazards for Shelby County are listed below the chart, as national percentiles (100 = highest).

All county hazards

Policies with a paid claim

Share of policies, by year

Top county hazards

  • Cold wave100 · Very High
  • Tornado100 · Very High
  • Heat wave100 · Relatively High
  • Earthquake100 · Relatively High
  • Inland flooding99 · Relatively High

Other ZIP codes in Shelby County

Average premium per policy in 2022 (Treasury FIO). Showing 12 of 28; see the county page for all.

38002 Arlington · $2,32238016 Cordova · $2,18338017 Collierville · $2,71638018 Cordova · $2,24638053 Millington · $1,90738103 Memphis · $2,42638104 Memphis · $2,60338106 Memphis · $1,76638107 Memphis · $1,91538109 Memphis · $1,85838111 Memphis · $2,24538112 Memphis · $2,298

Practical next steps

Simple things homeowners in ZIP 38138 can do with this information.

Check your flood zone. Look up your address on FEMA's Flood Map Service Center (msc.fema.gov). Standard home policies don't cover flood damage, and flood insurance usually has a 30-day waiting period, so it's worth sorting out before storm season.
Have a shelter plan. Know where your safe room or interior shelter is, and keep an up-to-date photo or video inventory of your belongings to make any claim simpler.
Know that earthquake damage is separate. Standard homeowners policies exclude earthquakes. If shaking is a concern where you live, ask about a separate earthquake policy or endorsement and its deductible.
Compare at renewal. Premiums vary widely by ZIP code, home and insurer. Use these averages as a reference point, not a price, and compare a few quotes at renewal.

Historical averages, not a quote. Homeowners figures are inflation-adjusted averages from the U.S. Treasury Federal Insurance Office "Supporting Underlying Metrics" (2018–2022, published January 2025). They cover HO-3/HO-5 policies from participating private insurers and exclude state residual-market plans (such as FAIR plans and Citizens), surplus-lines and flood coverage. Treasury notes that individual ZIP codes can contain data anomalies. Your price depends on your home, coverage and insurer.

Sources: U.S. Treasury FIO; FEMA OpenFEMA NFIP Redacted Policies v3 (data as of Sep 8, 2026); FEMA National Risk Index (December 2025); U.S. Census Bureau ZCTA-to-county relationship file (2020) and county adjacency file; GeoNames place names. How we calculate these numbers.

This product uses the FEMA OpenFEMA API and National Risk Index data, but is not endorsed by FEMA. The Federal Government or FEMA cannot vouch for the data or analyses derived from these data after the data have been retrieved from the Agency's website(s). SafeHomeFacts is independent and not affiliated with the U.S. Treasury, FEMA or any insurer.