Cheapest Texas Car Insurance for Low-Income Drivers
Low-income drivers could be paying a large share of their budget on car insurance. The difference between the most expensive and the most... 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
States Most At Risk for Natural Disasters
Natural disasters continue to increase as climate change worsens, but not all parts of the United States are affected equally. Residents of... Read More
Private Health Insurance for Individuals and Families
You can buy a private health plan for yourself and your family directly from an insurance company. Most plans are required by law to offer... Read More
How Much Does It Cost to Insure a Dodge Charger?
It costs an average of $2,635 per year to insure a 2021 Dodge Charger. That rate will vary based on the market value, condition and model... Read More
83 Million Americans Say Coronavirus Makes Them More Likely to Buy Life Insurance
Our survey finds that men are more likely to consider life insurance as a response to the pandemic, and consumers have significant gaps in... Read More
Homeowners in These Cities Need Flood Insurance
With inflation and lingering COVID-19 concerns dominating public discourse, the continuing lack of flood insurance coverage in many cities... Read More
How Much Does It Cost to Insure a Chevrolet Corvette?
The Chevrolet Corvette is one of the most popular sports cars in the U.S. The cost to insure a Corvette varies depending on the model year,... Read More
More Than 80% Who Asked Car Insurer For Financial Help Were Successful — But Few Consumers Are Making This Request
As a way to help consumers struggling during the COVID-19 pandemic, many auto insurance companies are offering credit or refunds to their... Read More
Nearly Half of Americans are Struggling With Loneliness Amid Social Distancing, and Many Don’t Know Where to Find Help
With stay-at-home orders in place across America, ValuePenguin's goal was to better understand how Americans are coping with the lack of... 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).