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
Cost of Flood Insurance in Georgia and How to Get Coverage
The average cost of flood insurance in Georgia is $689 per year. State law doesn't require flood insurance, but mortgage lenders often do. Read More
Excess Flood Insurance: What Is It? Who Needs It?
If you have a high-value home located in a high-risk flood area, you may need excess flood insurance. This insurance covers damage to your... Read More
What Should You Do If You Have Uninsured Flood Damage? Will FEMA Help?
If your home was damaged by a flood but you don't have flood insurance, you can apply for grant money from FEMA or a loan from the SBA to... Read More
Do I Need Flood Insurance in North Carolina? How Much Does It Cost?
Though flood insurance isn't a legal requirement for North Carolina homeowners, some homes at high risk of flooding may need it in order to... Read More
Cost of Flood Insurance in Louisiana and How Coverage Works
Flood insurance is optional for most Louisiana homeowners, but it's worth considering even if you don’t live in a high-risk flood area. Read More
Choosing a Flood Insurance Deductible
A flood insurance deductible is the amount of money you will have to pay before your flood insurance policy covers damage to your home. A... Read More
What Is An Elevation Certificate for Flood Insurance?
If you have a mortgage and live in a high-risk area for floods, you almost certainly need an elevation certificate. Learn about when flood... Read More
Flood Insurance in New Jersey
Flood insurance is not a legal requirement to own a home in New Jersey, but if you live in an area that is likely to flood, you may be... Read More
Cost of Flood Insurance in Texas and How Coverage Works
The average cost of flood insurance in Texas is about $634 per year. You may need to purchase a policy to get a mortgage if your house is... Read More