Penalties for Driving Without Insurance in New Mexico
If you're caught driving uninsured in New Mexico, you'll face penalties ranging from fines to jail time plus registration and license plate... Read More
Flood Insurance
Flood insurance protects your home and belongings from damage caused by flooding. Regular home insurance doesn’t typically cover flood damage.
You may need flood insurance if your home is in a high-risk flood area and you have a federally backed mortgage, like an FHA or VA loan.
How to buy flood insurance
- Through the government-backed National Flood Insurance Program (NFIP)
- Private insurance company
Until recently, private flood insurance was typically very expensive. But it may be a good option if you need more coverage than an NFIP policy can provide. [/column] [/column]
At ValuePenguin, our experts can help you decide whether you need to get flood insurance. We can also help you find the best and most affordable options for flood insurance.
Compare top NFIP insurance companies
The federal government runs the National Flood Insurance Program (NFIP). However, NFIP policies are sold by private insurance companies.
The average cost of an NFIP flood insurance policy is $82 per month or $985 per year.
However, flood insurance rates vary based on the state where you live, the style of your home and how close you live to a body of water.
Your quote for NFIP insurance will be the same regardless of which company sells you a policy.
So, you should focus on finding a company that offers excellent customer service when shopping for insurance from the National Flood Insurance Program.
You should consider getting flood and home insurance from the same company. It will make your life much easier if you have a major emergency and you have to file both a home and flood insurance claim.
An example would be if a hurricane causes wind and water damage to your house. Your homeowners insurance policy would pay for the wind damage, while flood insurance would cover the water damage.
Find Cheap Homeowners Insurance Quotes in Your Area
Best NFIP flood insurance companies for customer service
Frequently asked questions
What is flood insurance coverage?
Flood insurance is a special type of insurance that protects your home. It covers damage to your home and your personal property from flooding. Regular home insurance usually doesn’t cover flood damage.
What is the difference between flood insurance and homeowners insurance?
Flood insurance protects your home and belongings from damage caused by flood water. Homeowners insurance protects against many other types of damage, like fire, smoke and vandalism. But most homeowners insurance policies don’t cover flood damage.
What is the difference between NFIP and private flood insurance?
National Flood Insurance Program (NFIP) insurance is backed by the federal government. It’s usually cheaper than private flood insurance. And the NFIP won’t cancel your flood insurance policy after you make a claim.
Private companies typically offer higher coverage limits, which could be necessary if you have an expensive home or valuable items.
Flood Insurance Research & Advice
Penalties for Driving Without Insurance in Idaho
In Idaho, driving without insurance may be considered a misdemeanor that's punishable by a fine, fees, license suspension and jail time.... Read More
Penalties for Driving Without Insurance in West Virginia
In West Virginia, driving without car insurance is a misdemeanor that's punishable by a fine and even jail time.... Read More
Penalties for Driving Without Insurance in Nebraska
In Nebraska, if you're caught driving your car without proof of car insurance or financial responsibility, your license and registration... Read More
How a Traffic Violation Affects Car Insurance Premiums
Traffic tickets, both minor and major, will make your auto insurance rates increase. Exactly how expensive it can get depends on a variety... Read More
Penalties for Driving Without Insurance in Nevada
If you're caught driving without car insurance in Nevada, you might be on the hook for a fine of up to $1,000 and reinstatement fee of up... Read More
How Does a DUI Affect Your Auto Insurance Rates?
A drunk driving ticket can affect your rates for several years, up to five in some states. A DUI will raise your car insurance rates by... Read More
How Does Your Credit Score Affect Auto Insurance Rates?
A higher or lower credit score can have a big impact on your car insurance quotes. Drivers with poor credit pay 88% more for full coverage... Read More
How Much Does Private Mortgage Insurance (PMI) Cost?
Here we explain how mortgage insurance (PMI) policy premiums are priced. Click to read more about private mortgage insurance, who needs it,... Read More
Methodology
To find the average cost of flood insurance in the U.S., ValuePenguin studied data published by the National Flood Insurance Program (NFIP).