How Does a DUI Affect Your Auto Insurance Rates?
A drunk driving ticket can affect your rates for several years, up to five in some states. A DUI will raise your car insurance rates by... 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
How Does Your Credit Score Affect Auto Insurance Rates?
A higher or lower credit score can have a big impact on your car insurance quotes. Drivers with poor credit pay 88% more for full coverage... Read More
How Much Does Private Mortgage Insurance (PMI) Cost?
Here we explain how mortgage insurance (PMI) policy premiums are priced. Click to read more about private mortgage insurance, who needs it,... Read More
Penalties for Driving Without Insurance in Utah
Driving without insurance is considered a misdemeanor in Utah. If you're caught, you could face up to a $1,000 fine — not to mention... Read More
Penalties for Driving Without Insurance in Iowa
If you're caught driving while uninsured in Iowa, the state may suspend your driving privileges for up to 12 months, and you could pay a... Read More
Penalties for Driving Without Insurance in Connecticut
In Connecticut, you will be fined $50 for not carrying proof of insurance with you on the road and as much as $1,000 for driving an... Read More
Penalties for Driving Without Insurance in Mississippi
Driving uninsured in Mississippi is a misdemeanor punishable by a $1,000 fine and one-year suspension of your driving privileges.... Read More
Penalties for Driving Without Insurance in Arkansas
Driving without insurance in Arkansas can result in fines of up to $1,000, one year of jail time and vehicle impoundment, depending on how... Read More
How Do I Get Proof of Health Insurance For Taxes?
IRS Form 1095 is usually sent automatically to provide proof of health insurance for your taxes. The 1095 can help you calculate deductions... 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).