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Best Flood Insurance | Money

  • Good customer reviews
  • Online resources like FAQs, guides, a flood zone lookup tool and flood rate maps
  • Provides instant online quotes
  • Not available in AK, AL, HI, LA, MS, ND, SD, VT and WY

Why we chose it: Floodsimple claims to be committed to ensuring customer satisfaction. To that end, it provides online quotes, allows for online claim filing and offers guides, FAQs and other tools to help customers understand their coverage needs. Floodsimple also has very few but highly positive customer reviews on the Better Business Bureau and responds promptly to customer complaints.

Floodsimple’s insurance products are backed by financially stable and trusted insurers such as Lloyd’s of London. It provides flood insurance for both residential and commercial buildings, including residential investment properties like multi-family homes.

You must speak with an agent to obtain a commercial quote but can get a residential quote online in minutes. And if you ever have to file a claim, an agent can guide you through the process either over the phone or via email.

Flood insurance rates through Floodsimple are among the lowest on the market. $10,000 in residential coverage can cost you around $380 annually. But it’s worth noting that Floodsimple doesn’t cover the nine states that aren’t part of the Federal Flood Insurance Program (FFIP).

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Other flood insurance companies we considered

While the following companies offer competitive policies, some had problems or failed to stand out, so we didn’t select them for our top picks.


  • Online claim filing
  • Underwrites for other top flood insurance providers
  • Higher costs
  • Customer complaints
  • Slow claims response time

Assurant Insurance is a good choice if you’re looking for an insurance company that offers a primarily online experience. With a long history of providing insurance and excellent ratings from leading industry rating agencies, Assurant has proven itself a stable and reliable company.

It offers 24/7 online services, helpful guides and comparison tools, and the added benefit of a “FlexCash program” to cover additional living expenses if you’re displaced due to a flood. Its rates are the same as GEICO’s, for whom it underwrites.

Unfortunately, it has many complaints and customers report waiting long to hear back from claims adjusters.


  • Highly rated customer service
  • Nationwide coverage
  • Available only to active-duty U.S. service members, veterans and their families
  • No local agents

USAA provides specialized insurance, including flood insurance through the NFIP, for veterans, active duty members and their families. It offers excellent customer service and nationwide coverage and has superior ratings from top rating agencies.

However, it provides no option to work with local agents and is exclusively available for current or former members of the armed services and their families.


  • Provides both NFIP coverage and excess coverage policies
  • Insures secondary structures
  • Poor customer reviews citing incorrect policy changes and long waits
  • Restrictions for detached structures, such as sheds, fences and pools

With an extensive network of agents, nationwide private flood insurance coverage and online policy management, Allstate would be a solid recommendation if it weren’t for poor customer service reviews citing long wait times for claims processing. And unlike other providers, Allstate also requires elevation certificates for some zones and additional documentation.

Flood Insurance Guide

This guide covers important information about flood insurance and how it can help protect your property. We’ll explain how flood insurance works, what types of coverage you can get and what to keep in mind when choosing a provider so you can make an informed decision when purchasing a policy.

What is flood insurance?

Flood insurance is a type of insurance designed to help protect homeowners from financial losses due to flooding. Floods can be caused by heavy rains, melting snow, dam or levee failures or hurricanes, and they can cause considerable damage to property and belongings.

It’s important to know that a standard homeowners insurance policy doesn’t cover flood damage. As the effects of climate change lead to more frequent and intense flooding, it’s important to research which companies offer flood insurance applicable to your needs.

How does flood insurance work?

Flood insurance can help cover the cost of replacing items damaged by flooding and repairs to your home or business. It can also provide funds to help you pay for temporary housing or interrupt your business operations if your property must be evacuated due to flooding.

To purchase flood insurance, contact an insurance provider to determine if flood coverage is available in your area. If it is, the agent will help you choose the type and coverage amount you need.

Before you purchase flood insurance, know that it typically doesn’t cover damage caused by water entering your home through an open window or door or damage caused by water overflowing from a bathtub or sink. Read your policy carefully to understand what’s covered and what isn’t.

If a flood occurs, contact your insurance provider immediately to start the claims process. Your provider will need certain documents and may request additional proof to assess the damage and provide you with an estimate of how much your policy will cover.

What to keep in mind when choosing a flood insurance provider

Ensure the provider you’re considering is reputable and financially stable. You want your insurance company to be reliable and able to pay out claims in the event of a flood. Research the insurer’s ratings and reviews, and check if any complaints are filed against them.

You should also consider the coverage limits, rates, and your home’s structure and risk of flooding to ensure your policy meets your needs.

Coverage limits

When protecting your home and belongings from flood damage, insurance is essential. However, not all insurance policies are created equal.

Pay special attention to any policy exclusions or potential gaps in coverage and consider your coverage limits, which will determine how much you can be reimbursed after a flood. With that in mind, look for a policy that covers the total cost of rebuilding the structure of your home and replacing its contents.

Premium rates

Compare the cost of different policy premiums. Premium rates vary depending on the size of your home and its location and risk of flooding. To get the best deal on the coverage you require, compare quotes from different companies. And don’t forget to ask about discounts and benefits like rate locks, which can save you money in the long run.

The structure of your home

Your home’s structure will affect your policy’s coverage limits and premiums. The age of your home and its building materials and type of foundation impact its risk of flooding, and higher risk means higher premiums (and potentially more limited coverage options). With that in mind, consider your home’s features and look for providers that offer policies or add-ons that may cover them.

For example, not all policies cover additional structures such as detached garages, sheds, swimming pools and fences. If you have any of these, you may require additional coverage beyond what a standard policy provides.

Your risk of flooding

Before selecting a policy, it’s important to understand the risk of flooding in your area, as that will affect your annual premiums. If you live in a high-risk area, consider a policy with extensive flood coverage. Even if you don’t live in a flood-prone area, consider your risk of flooding due to other factors, such as heavy rains or storm surges.

Customer ratings

Researching customer ratings when selecting a flood insurance provider is always a good idea. Read reviews from other customers to ensure the provider you’re considering is reliable and trustworthy. When talking with insurance agents, don’t hesitate to ask about issues raised by past customers.

Flood Insurance FAQ

How much is flood insurance?

The average cost of flood insurance varies depending on your property’s features and location and the amount of coverage you purchase. In addition to a premium, you’ll also have to pay a deductible. The deductible is the amount you must pay out of pocket before the insurer pays out covered claims.

Flood insurance rate maps can give you an idea of how much you can expect to pay for flood insurance. Nevertheless, on average, a standard residential flood insurance policy costs $950 annually.

What does flood insurance cover?

Flood insurance generally covers the cost of repairing any damages to the structure of your home and replacing its contents. Coverage may also extend to your car and other structures on your property. Flood insurance doesn’t cover damage caused by other natural disasters, such as earthquakes or hurricanes.

Will renters insurance or homeowners insurance cover flood damages?

Renters and homeowners insurance won’t cover damages caused by flooding. Flood insurance is the only policy that explicitly covers flood damage.

Do I need flood insurance?

If the area you live in has any risk of flooding, you should consider purchasing flood insurance. Flooding can cause considerable and expensive damage to your home and its contents and displace you for an extended period. Flood insurance can help protect you from the financial losses resulting from a flood.

You can find out if you live in an area at risk of flooding by contacting your local floodplain manager. You can usually find their contact information on your city or county government website or through your local emergency management office or planning department. You can also learn more about flood insurance by visiting the NFIP website.

How We Chose the Best Flood Insurance

  • Reputation: We combed through third-party review sites to understand consumer sentiment about each company and considered their history and financial stability when making our selections.
  • Coverage and Cost: We selected insurance providers offering both federal and private policies, several different coverage options to choose from and competitively priced plans. With that aim, we gathered quotes for an average single-family home.
  • User-Friendliness: We prioritized companies offering online quotes, claims filing and several ways to contact customer service.
  • Other: We focused on factors that set each company apart from other carriers, such as bundling discounts or a market specialization, restrictions and limitations with regard to coverage or service availability.

Summary of Money’s Best Flood Insurance

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