Flood Insurance

Flood insurance is a special type of insurance that protects your home. It covers damage to your home and your personal property from flooding, both of which are typically not covered by regular home insurance.

You may be required to buy flood insurance if your home is in a high-risk flood area and you have a federally backed mortgage.

There are two main options to buy flood insurance: through the National Flood Insurance Program (NFIP), which is backed by the federal government, or through a private insurer. Until the last few years, the private flood insurance market was prohibitively expensive, though.

At ValuePenguin, we write about how to understand whether you're required to get flood insurance, the best and most affordable options for flood insurance and the average cost of coverage, among other topics.

Flood Insurance Research & Advice

How Risk Rating 2.0 Will Affect Flood Insurance Policies

The cost of flood insurance will increase on more than 3.8 million policies, though just 4% of all policies will see the highest increases... Read More

Flood Insurance Rate Increase: How Much You'll Pay This Year

The National Flood Insurance Program increased premiums by an average of 11.3% after April 1, 2020, though different types of property... Read More

Amid Coronavirus Pandemic, Nearly a Third of Homeowners in High-Risk States Have Not Made Any Hurricane Preparations

More than one-quarter of homeowners in at-risk areas say the coronavirus pandemic has caused them to be less prepared for this year's... 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

Is There a Flood Insurance Waiting Period?

Flood insurance policies usually come with waiting periods of 14 to 30 days. The difference depends on whether you obtain coverage through... Read More

How Much Is Flood Insurance in Minnesota and When Do You Need It?

At an average annual cost of $900, flood insurance coverage in Minnesota is a substantial addition to your existing costs as a homeowner.... Read More

Flood Insurance in Connecticut: How Much It Costs and When You Need Coverage

Flood insurance costs Connecticut homeowners $1,504 each year, on average. You may be required to purchase flood insurance in Connecticut... Read More

Flood Insurance Costs & Coverage in Massachusetts

The average annual cost of flood insurance in Massachusetts is $1,294 for policies sponsored through FEMA's National Flood Insurance... Read More

Flood Insurance Costs & Rates in Pennsylvania

Flood insurance in Pennsylvania costs an average $1,390 a year. Your mortgage lender may require you to get flood insurance if you live in... Read More