Flood put Leicester in front for the first time with the conversion, but a Jackson penalty soon after saw Sarries regain the lead in the 58th minute.
Two minutes later and the boot of Flood put the visitors in front - only to go behind once again minutes later to a Hougaard penalty.
The hosts' victory hopes were further damaged when captain Steve Borthwick was sin-binned for off-side 18 minutes from time.
And Leicester capitalised on their one-man advantage as Flood added three successive penalties.
Saracens: Goode, Penney, Ratuvou, Barritt, Wyles, Jackson, Marshall, Aguero, Ongaro, Nieto, Borthwick, Ryder, van Heerden, Saull, Joubert. Replacements: Hougaard for Jackson (41), Rauluni for Marshall (62), Gill for Aguero (52), Brits for Ongaro (41), Botha for Ryder (54), Melck for Saull (60). Not Used: Mercey, Haughton.
Sin Bin: Borthwick (62).
Leicester: Hamilton, J. Murphy, Hipkiss, Allen, Tuqiri, Flood, B. Youngs, Stankovich, Chuter, Cole, L. Deacon, Parling, B. Deacon, Woods, Crane. Replacements: Tuilagi for J. Murphy (50), Staunton for Allen (23), Newby for Woods (49), Ayerza for B. Deacon (43). Not Used: Davies, R. Harris, Kay, Grindal.
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