What you need to know about buying flood insurance
Summary
Flood insurance coverage and rates
- Most homeowners and renters insurance does not cover flood damage.
- The National Flood Insurance Program (NFIP) has coverage options to protect your home, belongings or business from floods.
- Policy rates are unique to your location and needs, and they don't vary by insurance provider.
Flood insurance policies to fit your life and needs
The NFIP offers flood insurance policies for homeowners, renters and businesses. The policies are an essential layer of protection, because most homeowners, renters and business insurance does not cover flood damage.
Homeowners
Flood insurance policies for homeowners cover your building and belongings. Any homeowner who lives in a participating NFIP community is eligible, including people who own condominiums and townhouses. Building policies cover up to $250,000 of flood damage, and content policies cover up to $100,000 of flood damage.
Renters
Renters flood insurance policies protect the things you own inside your home. They protect things like your furniture, clothes, television, computers, rugs and some artwork. This type of policy covers your belongings for up to $100,000 of damage.
Business owners
Commercial flood insurance protects your business's building and equipment. The two coverage types insure things like your foundation, utilities, furniture and inventory.
Each type of policy (building and contents) covers up to $500,000 in flood damage.
What does flood insurance cover?
Your NFIP flood insurance policy covers direct physical flood damage to your home and your belongings.
Building coverage
Home and business coverage is called building coverage:
- Electrical and plumbing systems.
- Furnaces and water heaters.
- Refrigerators, stoves and built-in appliances like dishwashers.
- Permanently installed carpeting.
- Permanently installed cabinets, paneling and bookcases.
- Window blinds.
- Foundation walls, anchorage systems and staircases.
- Detached garages.
- Fuel tanks, well water tanks and pumps and solar energy equipment.
Contents coverage
Belongings coverage is called contents coverage. It protects things like your:
- Clothing, furniture and electronic equipment.
- Curtains.
- Washer and dryer.
- Portable and window air conditioners.
- Microwave.
- Carpet installed over wood floors.
- Valuable items such as original artwork and furs (up to $2,500)
- Merchandise and raw materials held in storage or for sale, if you’re a business owner.
Building and contents coverage are typically purchased separately and have separate deductibles.
NFIP flood insurance policy rates
Three things determine your flood insurance rate: where your property is built, how it’s built and what it would cost to replace it.
Your premium is completely unique to your home. That means if you live in a community with low flood risk, you'll pay less than someone who lives in a high-risk area.
The NFIP partners with more than 47 insurance companies and thousands of independent agents. They all use our pricing approach, so you don't have to shop around. Each one offers the same rates.
Tips for buying flood insurance
Follow the homeowners policy checklist
There are a number of actions you can take to reduce flood damage — and your flood insurance premium.
Estimate your available discounts
You can modify your property to lower your flood insurance premium.
Get a custom flood insurance quote
You can get a personalized estimate of your flood insurance costs from the NFIP online.
Nobody ever thinks it's going to be their house. You always hope for the best and prepare for the worst.
Jeff Baugh
Houston homeowner and NFIP policyholder