Flood protection with the government-run National Flood Insurance Program (NFIP) starts as low as $15/month. Currently, there are around 60 insurance companies that sell the NFIP flood product. The price is standardized across all insurance companies and is set by the Government.

What Factors Will Affect Your Premium?

The price you will pay for flood insurance will depend mainly on the following factors:

  • Flood risk zone where your building is located

  • Occupancy Type (one family house, two family house, three-four family house, single-family condo unit) Use (residential vs. commercial)

  • Residence (primary residence vs. secondary home)

  • Foundations (slab on grade, basement, crawlspace, elevated, etc.)

Private Insurance

If you live in a community that does not participate in the NFIP, it is also possible to purchase private flood insurance. Moreover, if you want to get a coverage level higher than the one offered by the NFIP, you can supplement the NFIP policy with a private policy.

Are There Additional Expenses Or Fees?

Your agency cannot charge fees for an NFIP flood insurance policy. The total annual premium should not be different from one company or agency to another. For private flood insurance, the agency or the state may charge additional fees.