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NFIP Flood Insurance vs.
Private Flood Insurance

If you're interested in a comparison of the NFIP vs Private Flood Insurance, give us a call! We can help review coverage options and price so that you can decide which is best for your unique situation.

What is the National Flood Insurance Program?

The National Flood Insurance Program (NFIP) is administered through the Federal Emergency Management Agency (FEMA).  The NFIP enables property owners in participating communities to purchase flood insurance from the national government. For several decades, the NFIP was the only option for flood insurance. Until recently, their pricing structure was confusing and complicated, overcharging half of its policyholders, while undercharging the other half. 

However, in April 2022, FEMA introduced Risk Rating 2.0, a new pricing methodology aimed at trying to solve the inconsistency in pricing and analyze each individual property's true risk. While flood zones are no longer used for rating, they are still used to determine whether or not flood insurance is mandatory.

What is Private Flood Insurance?

Private Flood Insurance is coverage that insures property against the peril of flood.  It is funded and written by private insurance companies instead of the National Flood Insurance Program. It is becoming increasingly popular and is often a cheaper alternative to the NFIP. Additionally, private flood insurance typically offers higher limits and a wider array of coverage options than a comparable NFIP policy. Private Flood Insurance was not widely available until the year 2012.  The NFIP does allow companies like Allstate and Farmers to sell a "Write Your Own" policy flood insurance but it is still an NFIP policy.

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Which is cheaper, NFIP or Private Flood Insurance?

This depends on your property's unique risk, which includes things like distance to water, your foundation type and the elevation of your structure.  Remember to pay attention to differences in deductibles, coverages and limits when comparing quotes. We are here to provide you all the information you need to make an informed decision about protecting your home.


Let's compare prices...

This example shows how drastically prices can vary. The example below is for a single family home in Arizona with a $250,000 limit of coverage.

FEMA's NFIP Policy: $710/yr

Actual screenshot of quote below.


FloodPrice Policy: $315/yr

Actual screenshot of quote below.


Things to keep in mind when you're trying to save money on flood insurance...

Let's Compare:
Private Policy
NFIP Policy
Compliant with State Insurance Laws
Maximum Building Coverage Amount
Maximum Contents Coverage Amount
Additional Coverage Options Available**
Additional Living Expenses, Debris Removal & Carports
Basement Coverage Available*
Paint, Flooring, Baseboards, Personal Property, and more.
Drywall (no tape or mud)
Additional Fees Required for Coverage of More Than One Structure
Waiting Period for Policy Inception
15 Days
30 Days

*To see what is covered by NFIP, Click Here! See Page 9.

**Limited coverage may be available for detached garage.

Learn More about Additional Living Expense and Loss of Use Coverage

Get an Quote Online in as Little as 5 Minutes!

Let Us do the Work For You! Give Us a Call.

Which to choose, Private Flood Insurance or NFIP?

FloodPrice offers both!


Private vs NFIP: Everyone's situation is different. If you received a flood insurance quote from our website quoting tool that is over $800, we suggest you give us a call so that we can compare your rate. Not all carriers offer rates online, including the NFIP, so we may be able to save you money by shopping around.


Let us do the shopping for you! We know how to navigate the confusing world of flood insurance. Our Customer Success Team members are Flood Experts! They are knowledgeable, helpful, and fast. Don't take our word for it, check out our reviews.

Private Flood Insurance Carriers: We work with only the largest flood insurers in the private market with an AM Best rating of A (Excellent) or higher! Our goal is to make sure that you have accurate and up-to-date advice in an ever-changing market. Get a Quote Online and see just how much we can save you!

NFIP Flood Insurance: If an NFIP policy is a better fit, Give Us a Call! The NFIP is not equipped to provide quotes on our website, so that's where we come in! New changes in the NFIP program can mean lower premiums for certain properties. Just call us and ask for an NFIP quote, and a member of our Customer Success Team can quickly walk through the process with you.

Why Choose FloodPrice: You need flood insurance, but you don't have time to shop around. You need coverage, fast! That's where we come in. We are the Flood Experts, and we offer all things flood! Whether you're looking for a policy through FEMA's National Flood Insurance Program (NFIP) or for a private flood insurance policy, we shop the market for you, finding you the right policy to fit your needs.

Get an  Private Quote Online in as Little as 5 Minutes!

Give us a Call for an NFIP Quote

So What Are You Waiting For?

If you're still unsure which flood insurance is best for you, or just want to speak to a real live person, give us a call at 866-503-5663. We're happy to answer any questions you might have about Flood Insurance.

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