Senators Rick Scott and Ashley Moody reintroducing the Flood Insurance Relief Act to provide tax breaks for those with a non-refundable tax deduction on flood insurance. Insurance Information Institute's Mark Friedlander says anything to incentivize people to get insured is good. No word yet on exactly what you could save under this proposal, but the average cost of flood insurance is one-thousand-dollars. So, if you're in the twenty-two percent tax bracket you would save about two-hundred bucks.