The Most Health-conscious Cities in America
Whether for longevity or vanity, the importance of being healthy has moved to the forefront of American culture. Rising healthcare costs,... 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
Best Cities for Small Business
There are more than five million companies in the U.S. And more than 76% of them have less than 10 employees, according to the U.S. Census... Read More
Who Has the Cheapest Car Insurance in Los Angeles?
Geico offers the cheapest car insurance in Los Angeles, with an average rate of $48 per month for minimum coverage. It also has the... Read More
How Do First Party Benefits (PIP) Work in Pennsylvania?
Personal injury protection (PIP), or "first party benefits" (FPB), as it is called in Pennsylvania, is an optional but encouraged part of... Read More
Car Insurance Discounts
There are 22 common discounts that car insurance companies may offer drivers. Discounts fall into a few categories: driver safety, driver... Read More
Average Cost of Travel Insurance by Policy and Age
The average cost of travel insurance in the U.S. is $148, but not all travel insurance policies are the same. Depending upon your age, trip... Read More
Car Insurance in Ann Arbor, Michigan
Frankenmuth Insurance has the best price for minimum car insurance, at $761 per year. Progressive has the best rate for full coverage, at... Read More
How Does Personal Injury Protection Work in Massachusetts?
In Massachusetts, drivers need to carry personal injury protection. What that entails is not always clear however. We go over the ins and... Read More
What is Travel Health Insurance?
Travel health insurance can save you thousands of dollars and lots of stress if a medical emergency happens while abroad — and, it’s... 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).