By BRIAN CARMODY Updated Dec 4, 2020
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Flood insurance is a type of property insurance that can cover your building and its contents if they are damaged or destroyed due to a flood caused by heavy rain, storm surges, blocked storm drainage systems, or levee dam failure. While not every homeowner needs flood insurance, it may be a smart investment to make regardless of where you live. According to The Federal Emergency Management Agency (FEMA), 25% of homeowners who have filed a flood damage claim do not even live in a flood zone.1
Homeowners can get their policies through The National Flood Insurance Program (NFIP) or through private providers. The structure of NFIP policies is set by the government, which leaves little room for customization; however, thanks to private flood insurance providers, homeowners can get a customized policy with a premium that better reflects the risk of flooding specific to their property.
We researched and reviewed 16 flood insurance companies based on plan options, pricing, coverage, and customer experience. Here are the best eight companies for your different needs.
The 8 Best Flood Insurance Companies in 2020
- Best Overall: GEICO
- Best Commercial Flood Insurance: The Flood Insurance Agency
- Best Online Option: Assurant
- Best for Customer Service: FloodSimple Insurance Services
- Best for Veterans: USAA
- Best for Comprehensive Coverage: Neptune
- Best for Renters: MetLife
- Best Affordable Option: Better Flood Insurance