Flood Insurance
Flood Insurance Quotes
NFIP or private flood insurance? Insuremart is here to assist you.
Because there’s no time better than now to buy flood insurance (coverage will not take effect for 30 days from purchase), we would like to set your mind at ease: Insuremart’s agents are ready to help now or when you’re done reading. Just remember, 30 days from now, you could have flood insurance and understand how it works and what’s covered if a flood hits. And we are happy to report you paid the lowest possible rates for flood insurance through Insuremart.
Make it a reality by requesting a flood insurance quote from our agents. Regardless of NFIP or private flood insurance:
Insuremart has direct access to
over
100
insurance carriers
Nobody can sell for less, and we work for you.
Flood insurance takes effect 30 days from purchase. You should start a quote request asap.
Do I need flood insurance in my state?
No states mandate flood insurance coverage. However, if you have a mortgage the lender may require coverage.
And unless you simply cannot afford it, it’s a must to carry flood insurance in high-risk areas.
Consider coverage if you live in an area that has even a slight possibility of flood. Rates in your area will be less and there will be more competition. The cost to protection ratio will be heavily in your favor.
How much does flood insurance cost?
$400 per year for low risk to $1,000 per year for moderate risk, and $4,000 or more for high risk areas like the coasts.
Good to know: Insuremart works with over 100 insurance carriers. Nothing gives you an advantage when buying Flood insurance — or any insurance — like a great agent and more options. Talk to our agents.
What to consider when deciding between NFIP vs Private Insurance
NFIP stands for the National Flood Insurance Program. It’s a federal government insurance program offered in the highest prone flood areas in the country and underwritten by FEMA. There is not a federal government website to purchase NFIP flood insurance. You can buy NFIP through Insuremart or an agency of your choice.
Then there is private flood insurance offered by select insurance companies in some areas of the country, many times outside of the highest prone areas. These are the same insurance companies that sell homeowners and other personal and commercial insurance products. They may sell their own flood insurance products or those offered by FEMA through the NFIP. And some offer both.
How to decide NFIP vs private insurer?
The determining factors for you and insurance providers is risk:
Risk to You – A catastrophic event could exceed more than the provider can pay as a whole to all claimants. That could result in no reimbursement for your loss. There is little risk of that happening with a NFIP policy.
Risk to a private insurer – a catastrophic event that reaches claims in $100s of millions or even billions of dollars. The risk is the reason why private insurance is not available in flood prone areas. That’s why NFIP exists.
There is a potential benefit if you choose a private insurer:
Higher limits – Some private flood insurance providers will go beyond the NFIP dwelling limit of $250,000 and personal property limit of $100,000. Your premium may be higher.
Get a Flood insurance quote from Insuremart right now. Our agents are ready to help.