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
The average cost of flood insurance in Florida is $562 per year. You may be required to purchase a policy to obtain a mortgage if your home... Read More
The average cost of flood insurance in California is $779 per year. Your mortgage lender may require you to purchase a policy if your house... Read More
Find out how you can get flood insurance for your home. Whether you want to buy a flood policy from the government or a private company, we... Read More