Private flood insurance
Private flood is written by insurance companies instead of the federal program. Each carrier prices a property on its own model, so the same home can come in well under the NFIP price, or over it. The only way to know is to quote both.
Free quotes from FEMA’s NFIP and private flood carriers. Prefer to talk? Call 888-546-1099.
How private flood usually differs from NFIP
- Building limits
- Above NFIP’s $250,000, varying by carrier
- Contents limits
- Set by the carrier, often above $100,000
- Waiting period
- Often shorter than 30 days
- Living expenses while you are displaced
- Offered by many carriers
- Contents claims
- Replacement cost offered by some carriers
- Availability
- Depends on the property, its flood history and the state
Terms differ from carrier to carrier, so read each quote for what it includes.
What to know before you buy
- Lenders accept itFederal rules require regulated lenders to accept private flood policies that meet the federal definition. We provide the declarations page and evidence of coverage your lender asks for.
- Not every property qualifiesPrivate carriers choose what they write. A property with prior flood claims, or of a type a carrier does not insure, may be declined. NFIP is still there when that happens.
- Who stands behind itNFIP claims are backed by the federal government. Private policies are backed by the insurance company, and many are written by surplus lines insurers, which state guaranty funds do not cover.
- Worth checking again at renewalPrivate rates and appetite change from year to year. A property that was declined or expensive last year may not be this year.
Common questions
Is private flood cheaper than NFIP?
Sometimes by a lot, sometimes not at all. It depends on the property: its elevation, its distance to water, how it is built and its claims history. That is why we quote both on the same application.
Can I buy private flood if my lender requires flood insurance?
Yes. Lenders regulated by the federal banking agencies must accept a private policy that meets the federal definition of private flood insurance. Tell us who your lender is and we add them to the policy as mortgagee.
How fast can a private policy start?
It varies by carrier. Many have a shorter waiting period than NFIP’s 30 days, and some waive it for a purchase closing. Do not wait for a storm in the forecast: carriers stop writing new policies when one is approaching.
The other programs
FEMA flood insurance (NFIP)
The National Flood Insurance Program, run by FEMA and backed by the federal government. Every mortgage lender accepts it.
Excess flood insurance
Pays above the limit of a primary flood policy, for buildings that would cost more to rebuild than NFIP or a private policy will pay.
Commercial flood insurance
Storefronts, offices, warehouses, mixed-use and rental buildings. NFIP stops at $500,000 on the building, so we also shop private and excess flood.
See what your address would cost
Free, online, no obligation. Prefer to talk? Call 888-546-1099 (Mon–Fri, 9am–5pm ET), or call or text Roxy, our AI assistant, any time at 833-366-3991.