Flood Insurance

Cate Deventer
Written by
Updated
Flood insurance helps you pay to fix the damage to your house and belongings caused by flooding. Regular home insurance almost never covers flood damage.

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You might be required to buy 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.

Even if you don't have to get flood insurance, you might want to consider it. Just one inch of floodwater can cause $25,000 of damage to your home, according to the National Flood Insurance Program (NFIP).

How to buy flood insurance

  1. Through the government-backed NFIP
  2. Private insurance company

Private flood insurance may be a good option if you need more coverage than an NFIP policy can provide. It also gives you the ability to compare rates with an NFIP policy.

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 through private insurance companies.

The average cost of an NFIP flood insurance policy is $82 per month or $985 per year.

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.

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 can 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 flood damage to your house. Your homeowners insurance policy would pay for the wind damage, while flood insurance would cover the flood damage.

Find Cheap Homeowners Insurance Quotes in Your Area

On means insured, off means not insured.
It's free, simple and secure.

Best NFIP flood insurance companies for customer service

Read our review: American Family
American Family
Read our review: American Family
Read our review: Amica
Amica
Read our review: Amica
Read our review: Auto-Owners
Auto-Owners
Read our review: Auto-Owners
Read our review: USAA
USAA
Read our review: USAA

Frequently asked questions

What is flood insurance?

Flood insurance is a type of insurance that pays if your home or belongings are damaged by a flood. Regular home insurance doesn't cover flood damage, so flood insurance is especially important for people near bodies or water or in other high-risk areas.

What is the difference between flood insurance and homeowners insurance?

Flood insurance covers your home and belongings from damage caused by flood water. Homeowners insurance covers many other types of damage, such as fire, smoke and vandalism. But most homeowners insurance policies don't cover damage caused by rising surface water.

What is the difference between NFIP and private flood insurance?

National Flood Insurance Program (NFIP) insurance is backed by the federal government. 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

Methodology

To find the average cost of flood insurance in the U.S., ValuePenguin studied data published by the National Flood Insurance Program (NFIP).

About the Author

Cate Deventer
Cate Deventer

Senior Writer
Licensed Insurance Agent

Cate Deventer is a Senior Writer who specializes in health insurance, Medicare, auto and home insurance. She's been a licensed insurance agent since 2011.


She started her insurance career working as a customer service agent for State Farm. She later moved to an independent agency, where she worked with several insurance companies and hundreds of clients. She quoted policies, filed claims and answered insurance questions. In 2021, she pivoted her career and began writing about insurance for Bankrate. She moved to ValuePenguin in 2023 and began writing about health insurance and Medicare.


Cate has a passion for helping readers choose insurance to fit their needs. She enjoys knowing that her research and knowledge help people choose insurance products that make a positive difference in their lives.

How insurance helped Cate

Cate used her health insurance knowledge to navigate a surgery in 2023. Understanding how her policy worked let her focus on recovery instead of worrying about bills.

Expertise

  • Health insurance
  • Medicare & Medicaid
  • Auto insurance
  • Home insurance
  • Life insurance

Credentials

  • Licensed Life, Accident & Health Insurance Agent
  • Licensed Property & Casualty Insurance Agent

Referenced by

  • CBS
  • NBC
  • Wall Street Journal

Education

  • BA, Theatre, Purdue University
  • BA, English, Indiana University

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