How to Find the Best Flood Insurance Policy for You
Flood Insurance Coverage Limits
Flood Insurance Coverage Limits
Flood insurance coverage limits depend on whether you purchase a policy through the National Flood Insurance Program (NFIP) or a private insurer. Here’s a breakdown of typical coverage limits:
1. NFIP Flood Insurance Limits (Standard Government Policy)
The NFIP, managed by FEMA, offers two types of coverage:
- Building (Structure) Coverage: Up to $250,000
- Personal Property (Contents) Coverage: Up to $100,000
🔹 What’s Covered?
✔️ Building Coverage: Foundation, electrical, plumbing, HVAC, appliances, and built-in items (cabinets, water heaters, etc.)
✔️ Personal Property Coverage: Furniture, electronics, clothing, and valuables (with limitations on items like artwork and jewelry)
🔹 What’s Not Covered?
❌ Additional living expenses (hotel stays, food)
❌ Cars and outdoor property (fences, patios, landscaping)
❌ Basement contents (some restrictions apply)
2. Private Flood Insurance Limits
Private flood insurers offer higher limits and broader coverage than NFIP policies. These policies may include:
- Building Coverage: Often up to or exceeding $1 million
- Contents Coverage: Can go beyond $100,000
- Additional Living Expenses (ALE): Covers temporary housing if your home is unlivable
- Replacement Cost for Personal Property: Unlike NFIP, which pays actual cash value, private insurers may offer full replacement cost
How to Choose the Right Coverage?
- If you have a higher-value home or possessions, private flood insurance might be a better option.
- If your home is in a high-risk flood zone, NFIP coverage may be required by lenders.
- Consider extra coverage if your home has a basement, as NFIP policies have limited basement coverage.
Here is what our clients are saying about us:
We contacted Mr. Holt for an estimate via email over the weekend prior to a closing on a property, hoping for a response on the following Monday to take with us with confidence in being insured at the settlement table on a Tuesday. He exceeded our expectations not once but in readily responding to the initial request and then to follow-up questions all during the weekend frenzy that occurs before closing. "Impressive and responsive customer service," for sure!
I have no problem giving you an A1 reference for taking care of the flood policies for me and Diane. I appreciate you working with the mortgage company: the surveyor and our previous agent. The result was a 75% reduction in our flood insurance premiums!
I have known Tim for many years and he is a man with great integrity, work ethic and one of the nicest persons I know. Over the years Tim has provided insurance counseling and advice to our company, for myself personally, as well as to our clients. Recently Tim, took time to analyze our flood insurance policy and he was able to make some excellent recommendations. Our flood insurance costs are now less and we have much better coverage. I recommend Tim to anyone without hesitation or reservation.
We'll help you:
Lower your current flood insurance premiums
Eliminate excessive & unnecessary coverage
Remove the FEMA from the claims handling process
