How Much You Can Save If You Commute By Bike
With more Americans than ever getting to work by bike, cities are celebrating the trend's positive impact on fitness, traffic congestion,... Read More
Flood Insurance
Flood insurance protects your home and belongings from damage caused by flooding. Regular home insurance doesn't typically cover flood damage.
You may need flood insurance if your home is in a high-risk flood area and you have a federally backed mortgage, like an FHA or VA loan.
How to buy flood insurance
- Through the government-backed National Flood Insurance Program (NFIP)
- Private insurance company
Until recently, private flood insurance was typically very expensive. But it may be a good option if you need more coverage than an NFIP policy can provide. [/column] [/column]
At ValuePenguin, our experts can help you decide whether you need to get flood insurance. We can also help you find the best and most affordable options for flood insurance.
Compare top NFIP insurance companies
The federal government runs the National Flood Insurance Program (NFIP). However, NFIP policies are sold by private insurance companies.
The average cost of an NFIP flood insurance policy is $82 per month or $985 per year.
However, flood insurance rates vary based on the state where you live, the style of your home and how close you live to a body of water.
Your quote for NFIP insurance will be the same regardless of which company sells you a policy.
So, you should focus on finding a company that offers excellent customer service when shopping for insurance from the National Flood Insurance Program.
You should consider getting flood and home insurance from the same company. It will make your life much easier if you have a major emergency and you have to file both a home and flood insurance claim.
An example would be if a hurricane causes wind and water damage to your house. Your homeowners insurance policy would pay for the wind damage, while flood insurance would cover the water damage.
Find Cheap Homeowners Insurance Quotes in Your Area
Best NFIP flood insurance companies for customer service
Frequently asked questions
What is flood insurance coverage?
Flood insurance is a special type of insurance that protects your home. It covers damage to your home and your personal property from flooding. Regular home insurance usually doesn't cover flood damage.
What is the difference between flood insurance and homeowners insurance?
Flood insurance protects your home and belongings from damage caused by flood water. Homeowners insurance protects against many other types of damage, like fire, smoke and vandalism. But most homeowners insurance policies don't cover flood damage.
What is the difference between NFIP and private flood insurance?
National Flood Insurance Program (NFIP) insurance is backed by the federal government. It's usually cheaper than private flood insurance. And the NFIP won't cancel your flood insurance policy after you make a claim.
Private companies typically offer higher coverage limits, which could be necessary if you have an expensive home or valuable items.
Flood Insurance Research & Advice
Is Pet Insurance Worth It?
Pet insurance can lower the cost of medical bills for accidents and injuries, but it can also be an unnecessary expense.... Read More
Average Cost of Pet Insurance
The average cost of pet insurance is $53 per month for dogs and $32 per month for cats. Quotes vary widely based on your pet’s breed, age... Read More
What Is Pet Insurance and How Does It Work?
Pet insurance can help cover medical costs if your pet is injured or gets sick.... Read More
Why is Car Insurance So Expensive in Michigan?
Michigan is the most expensive state in the country for car insurance. The main reason it's so expensive is the generous no-fault coverage... Read More
3 Reasons Not To File A Claim For That Fender-Bender
You might not want to file an insurance claim after a minor accident if the cost is close to your deductible, there were no injuries, only... Read More
Do You Need Bike Insurance, or Are You Already Covered?
Most people don't need a separate bike insurance policy. But if you have an expensive bike or you ride in races, you should consider... Read More
Historical Mortgage Rates: Averages and Trends from the 1970s to 2022
We examined data from Freddie Mac's Primary Mortgage Market Survey to identify historical mortgage rate trends. Click to read about the... Read More
5 Things To Know About Supplemental Insurance, Or Aflac Explained
Aflac is the leader in supplemental insurance. Here's what you need to know about this type of coverage and if it's something you should... Read More
Methodology
To find the average cost of flood insurance in the U.S., ValuePenguin studied data published by the National Flood Insurance Program (NFIP).