Nerdy takeaways
- Most people buy policies through the National Flood Insurance Program.
- The NFIP’s policies may not be the best flood insurance for you if you need higher limits or broader coverage.
- Private flood insurance companies like Neptune Flood and Aon Edge may be better options.
You’re ready to buy flood insurance — but where should you begin? You could turn to one of the many flood insurance companies selling policies from the National Flood Insurance Program. However, private flood insurance, from providers unaffiliated with the NFIP, might be a better option. Here’s how to find the best flood insurance for your home in four steps.
Get personalized quotes without the work
Let NerdWallet Insurance Experts compare quotes from popular carriers to find the right insurance coverage and rate for you. No guesswork — just expert, personalized help.
Get my quotes
NerdWallet Insurance Experts, LLC is a wholly owned subsidiary of NerdWallet.
Insurance Services offered through NerdWallet Insurance Experts, LLC (AZ resident license no. 3003649891).
1. Check what’s available
The most common source of flood insurance is the National Flood Insurance Program, part of the Federal Emergency Management Agency. The NFIP partners with dozens of providers, including several of the nation’s largest home insurers, to sell its policies.
You’re eligible for NFIP coverage as long as you live in one of the program’s thousands of participating communities.
You may also have the option to buy private flood insurance instead. (A note about terminology: NFIP policies are technically sold by companies such as Farmers and USAA. By "private flood insurance," we mean policies that aren’t underwritten by the federal government or bound by its requirements.)
An independent insurance agent or broker can help you find alternatives to the NFIP in your area.
» MORE: Do you need flood insurance?
2. Determine your coverage needs
Several factors will determine how much flood insurance you need and where to buy it.
Your mortgage lender’s requirements
If you’re getting flood insurance as a condition of a mortgage, make sure you know how much coverage your lender requires. For example, you may need enough flood insurance to cover the outstanding balance on the loan.
Keep in mind that the amount your lender requires may not be enough to protect you financially. For instance, your bank might mandate insurance only for the structure of your home, not your belongings. But if a flood damaged all your furniture, could you afford to replace it? If not, you might want to buy flood insurance for your belongings (sometimes called “personal property” or “contents”).
🤓 Nerdy Tip
Before getting private flood insurance, check with your mortgage lender to make sure the policy will meet its requirements. Coverage limits
The NFIP's maximum coverage limits are $250,000 for your home and $100,000 for your belongings. If you have a large home, these limits might not be enough to rebuild the house or replace damaged belongings after a major flood.
A type of supplemental policy known as excess flood insurance is one way to bridge the gap. Although excess flood insurance is compatible with NFIP plans, you must buy it separately from companies such as Wright Flood or Aon Edge.
Alternatively, you may want to look into private flood insurance. These policies often have higher coverage limits than the NFIP.
What coverage you need
The standard NFIP policy has a few major exclusions. For instance, it won’t pay if you need to stay in a hotel while your home is being repaired after a flood. Got a deck or pool? The NFIP won't cover those either.
Here’s a quick summary:
| What NFIP insurance covers | What NFIP insurance doesn't cover |
|---|---|
| Damage to your home's structure, including the foundation and electrical and plumbing systems. | Damage to outdoor property like fences, patios and pools. |
| Damaged belongings, such as clothing, electronics, appliances and furniture. | Additional living expenses, such as meals and hotels, if you have to leave home during repairs. |
| Debris removal. | Damage to vehicles. |
| Artwork, furs and other valuables up to $2,500. | Improvements you’ve made to your basement, like carpeting and finished walls. Belongings stored in the basement. |
Private flood insurers may offer coverage for some of the things the NFIP excludes.
3. Shop around
If both options are available to you, try to get quotes from both the NFIP and private insurers. (An agent or broker can help.) Note that all NFIP partners offer the same coverage and rates, so you don’t need to shop around with multiple FEMA-approved providers.
Try to look at policies with similar coverage limits and deductibles to ensure the fairest rate comparison. That said, a more expensive private flood insurance policy with better coverage may be worth it to you.
🤓 Nerdy Tip
Raising your deductible — the amount of a claim you pay yourself — is one way to lower your annual premium. However, flood insurance policies often have separate deductibles for the building and your belongings. That means the amount you’re responsible for can add up fast. Not sure whether NFIP or private insurance is right for you? Here’s a breakdown to help you choose the best flood insurance.
| Policy features | Private flood insurance companies | NFIP |
|---|---|---|
| Max waiting period* | 7-15 days, depending on the company. | 30 days. |
| Coverage limits | Up to $15 million, depending on the company. | $250,000 for your home and $100,000 for your possessions. |
| State availability | Varies by company. | Nationwide in thousands of participating communities. |
| Basement contents | May be covered. | Generally not covered. |
| *With both the NFIP and private companies, you can often avoid a waiting period if you need flood insurance for a loan closing. | ||
Get personalized quotes without the work
Let NerdWallet Insurance Experts compare quotes from popular carriers to find the right insurance coverage and rate for you. No guesswork — just expert, personalized help.
Get my quotes
NerdWallet Insurance Experts, LLC is a wholly owned subsidiary of NerdWallet.
Insurance Services offered through NerdWallet Insurance Experts, LLC (AZ resident license no. 3003649891).
4. Choose the best flood insurance company
Once you’ve opted for an NFIP policy or a private insurer, here’s how to choose where to buy your policy.
NFIP
Although there’s no price variation among NFIP partners, it’s wise to buy your policy through an insurer with strong customer service. Below are FEMA-approved flood insurance providers that NerdWallet has rated at least 4 out of 5 stars.
You can also ask your existing insurer if it sells flood insurance. Buying all your policies from one company may be the most convenient option.
You can find a full list of NFIP flood insurance providers in your state on FloodSmart.gov.
» MORE: Flood insurance for renters
Private flood insurance
You may want to use a little more caution when choosing a private flood insurance company. Unlike NFIP coverage, which has U.S. government backing, private flood policies are issued by companies that could go out of business. Do some homework to make sure the company you choose will be around if you need it.
Some private flood insurers are surplus lines carriers, which means they cover risks standard insurers won’t. They don't have to contribute to a state’s guaranty fund, which pays policyholders’ claims if a standard company goes out of business. So if a massive storm hits your region and your surplus lines carrier can’t afford to settle its claims, you may not get the payout you were expecting.
That said, the industry isn't a free-for-all. State and other regulatory agencies oversee surplus lines carriers and the brokers who sell their policies. Surplus lines carriers don’t go out of business often, according to the National Association of Insurance Commissioners.
🤓 Nerdy Tip
You can check a company’s financial strength on sites like AM Best and S&P Global. (You may need to register for free to see the ratings.) You can also search for reviews and news articles about a company to get a sense of other people’s experiences. See our guide to private flood insurance.
Frequently Asked Questions
Who has the best flood insurance?
Several of the companies that sell policies from the National Flood Insurance Program have earned at least 4 stars out of 5 from NerdWallet. These include Allstate, Farmers and USAA. For higher limits and broader coverage, you may want to consider private flood insurance from companies like Chubb and Neptune.
Can you shop around for flood insurance?
There’s no need to shop around for policies backed by the National Flood Insurance Program. All FEMA-approved insurance providers use the same rating factors to set prices, so you won’t find a better deal from one carrier over another. But if private flood insurance is an option in your area, you may want to get multiple quotes.
Is flood insurance required?
It depends on where you live. Your mortgage lender may require you to buy flood insurance if your home is in a Special Flood Hazard Area. These are places with an elevated risk of flooding, as determined by FEMA.
Methodology
NerdWallet’s homeowners insurance ratings reward companies for customer-first features and practices. Ratings are based on weighted averages of scores in several categories, including financial strength, consumer experience, coverage and discounts. These ratings are a guide, but we encourage you to shop around and compare several insurance quotes to find the best rate for you. NerdWallet does not receive compensation for any reviews. Read our full ratings methodology for home insurance.Explore more on
Article sources
NerdWallet writers are subject matter authorities who use primary,
trustworthy sources to inform their work, including peer-reviewed
studies, government websites, academic research and interviews with
industry experts. All content is fact-checked for accuracy, timeliness
and relevance. You can learn more about NerdWallet's high
standards for journalism by reading our
editorial guidelines.
- 1. National Association of Insurance Commissioners. Surplus Lines. Accessed May 28, 2026.
