Auto Insurance Requirements in Vermont
The minimum liability requirements to drive legally in Vermont are 25/50/10 for the main types of liability coverage and 50/100/15 for the... 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
Average Household Cost of Food
Want to know if you spend more or less on food than the average U.S. household? In our guide, we show the average cost that the typical... Read More
Cheapest Car Insurance Quotes in Hawaii (2024)
Geico has the best cheap car insurance in Hawaii at $30 per month for minimum coverage. Geico's average rate is 40% cheaper than... Read More
Best and Cheapest Home Insurance in California (2024)
Mercury has the cheapest homeowners insurance in California, with an average price of $971 per year. That's 40% less than the state average... Read More
Auto Insurance Requirements in Alaska
Auto insurance is only required in Alaska in certain cities where vehicle registration is mandatory. When insurance is needed, the minimum... Read More
Best & Cheapest Car Insurance Quotes in Alaska (2024)
State Farm has the cheapest car insurance quotes in Alaska, charging $46 per month for minimum liability coverage. The cheapest full... Read More
Auto Insurance Requirements in South Dakota
The minimum liability requirements to drive legally in South Dakota are 25/50/25 for the main types of liability coverage and 25/50 for... Read More
Best & Cheapest Car Insurance Quotes in West Virginia (2024)
Erie has the cheapest car insurance quotes in West Virginia, at an average $33 per month. State Farm is also an affordable option, with a... Read More
Pennsylvania Assigned Risk Plan (PA ARP)
Pennsylvania's Assigned Risk Plan is an option of last resort for high-risk drivers. Insurance through PA ARP will satisfy the state'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).