Prescription Insurance: Plan Options & Ways to Save on Drugs
Most people get prescription insurance through their regular health insurance plan. Prescription discount cards are common ways to get... 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
62% of Americans Feel Stress at Least Weekly, and It’s Severely Disrupting Sleep
Among those experiencing stress, money is the No. 1 factor. Here’s what else we... Read More
Ozempic Leads to Weight Loss — Can It Aid Fertility, Too?
Anecdotal evidence suggests the popular weight loss drug can boost fertility, but doctors warn against unknown side... Read More
Ozempic Still Costs $1,000 Per Month — But Its Cost Could Be As Low as $1
The cost of the drug can be prohibitive, complicated by consumers’ desire for a fast weight-loss... Read More
Medicare Benefit Period: What Is It, and When Does It Matter?
A Medicare Benefit Period determines your costs and coverage for hospital care. Your coverage resets at the end of the benefit period, when... Read More
Tubal Ligation: Costs and Health Insurance Coverage
Getting your tubes tied usually costs up to $6,000 before insurance. The total cost for surgery is usually higher, but health insurance... Read More
Gold Plans: Cost and Coverage
Gold plans are a more expensive level of health insurance that usually pays for about 80% of your medical bills. It's the second-highest... Read More
Homeowners Insurance Costs More Than Ever — but Covers Less
With inflation and increased natural disasters pushing up the cost of homeowner’s insurance, many are at risk of finding themselves... Read More
Tesla Model Y vs. Toyota RAV4: A State-by-State Insurance and Operational Analysis
The cost to insure and operate a 2023 Tesla Model Y Long Range is more expensive on average, but average driving expenses are higher for a... 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).