Flood insurance cost very high - Flood Zone AE - quote is $3-3.5k

[Argi Avetisyan]

I have a rental property in flood zone. I am refinancing and the lender requires flood insurance. My insurance agent told me it would cost $3,000-3,500 per year to insure this through NFIP/FEMA. Are there any alternatives to this? The property is in St Louis, MO and not in an area that is very high flood risk area compared to other areas.

Thanks in advance.