Flood Insurance

Besides fire, flooding is the most common natural disaster. As with earthquake insurance, the basic homeowners insurance policy does not include flood damage. This coverage must be obtained from a provider that associates with the NFIP (National Flood Insurance Program). The NFIP is overseen by FEMA, which is the Federal Emergency Management Agency. FEMA, in turn, is run by the Federal Insurance Administration. On average, the general policy is around $300/year. A standard flood insurance policy is purchased from the NFIP. Under a “write your own program”, a policyholder obtains insurance directly from a private insurance company, as opposed to going through the NFIP. Your premium will be the same amount, regardless of purchase through the government or private company.

FEMA National Flood Insurance Program: The NFIP is a federal program enabling property owners in participating communities to purchase insurance protection against losses from flooding. This insurance is designed to provide an insurance alternative to disaster assistance to meet the cost of repairing damage to buildings and their contents caused by floods.

AARP Flood Insurance: Protect yourself from the most common and widespread natural disaster. Receive a personalized quote based on your home's location and construction. Presented by AARP in association with The Hartford.