Auto Insurance Requirements in Tennessee
In Tennessee, drivers must carry car insurance with at least $25,000 of bodily injury coverage per person and $50,000 per accident, along... 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
Auto Insurance Requirements in Indiana
Indiana drivers must have auto insurance with liability limit minimums of 25/50/25. Uninsured motorist property damage coverage is also... Read More
Auto Insurance Requirements in Arizona
Arizona requires motorists to have minimum amounts of liability car insurance — or an alternative proof of financial responsibility —... Read More
Auto Insurance Laws in Michigan: 2020 Reforms and Current Requirements
Michigan made major reforms to its auto insurance laws in July 2020, which translated into an average savings of more than $1,000 per year... Read More
The Best and Cheapest Home Insurance Companies in Idaho (2024)
Home insurance in Idaho costs $1,437 per year, on Average. Mutual and Enumclaw is the best cheap home insurance company for most people in... Read More
Auto Insurance Requirements in Massachusetts
Massachusetts auto insurance requirements are: bodily injury of $20K per person and $40K total per accident, $5K of property damage, and... Read More
Best and Cheapest Home Insurance Companies in Oklahoma (2024)
State Farm has the best cheap home insurance in Oklahoma, with an average rate of $3,149 per year. That’s $1,650 cheaper per year than... Read More
Auto Insurance Requirements in Virginia
Virginia requires minimum liability auto insurance for all drivers. The state used to allow residents to drive without insurance by paying... Read More
Who Has the Best Cheapest Home Insurance in North Dakota? (2024)
North Star offers the cheapest home insurance in North Dakota at $1,787 per year, which is 25% cheaper than the state... 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).