Social Media Preheader Home Page Get a Quote Refer A Friend Schedule an Appointment Claims Facebook Twitter LinkedIn Instagram Youtube
  • Home
  • Get A Quote
    • Annuities
    • AutomobileImage of right arrow
      • Auto Insurance Quote
      • Mexico Travel Insurance Quote
    • Bonds
    • Business & CommercialImage of right arrow
      • Builders Risk
      • Business Owners (BOP) Quote Form
      • Commercial Auto Insurance Quote
      • General Liability Quote Form
      • Liquor Liability Quote Form
      • Workers Compensation Quote
    • Dental
    • Farm
    • Flood
    • HealthImage of right arrow
      • Disability Insurance Quote
      • Health Insurance Quote
      • Long Term Care Insurance Quote
    • HomeownersImage of right arrow
      • Homeowner Flood Quote Form
      • Homeowners Insurance Quote
      • Manufactured Home Quote
    • LifeImage of right arrow
      • Life Insurance Quote
      • Term Life Insurance Quote
    • Motorcycle
    • Recreational Vehicle
    • Renters
    • Trucking
    • Vision
    • Watercraft & Boat
    • Windstrom
  • Customer Service
    • AutomobileImage of right arrow
      • Add Driver to Existing Auto Policy
      • Add Vehicle to Existing Auto Policy
      • Remove Driver from Existing Auto Policy
      • Remove Vehicle from Existing Auto Policy
      • Request Declaration and Coverages Page for Auto Policy
      • Request ID Card for Auto Policy
      • Send Declaration and Coverages Information to Lien Holder
    • Business & CommercialImage of right arrow
      • Add Driver to Existing Commercial Auto Policy
      • Add Vehicle to Existing Commercial Auto Policy
      • Remove Driver from Existing Commercial Auto Policy
      • Remove Vehicle from Existing Commercial Auto Policy
      • Request Declaration and Coverages Page for Commercial Auto Policy
      • Request General Liability Certificate of Insurance
      • Request ID Card for Commercial Auto Policy
    • Flood
    • Health
    • HomeownersImage of right arrow
      • Request Declaration and Coverages for Existing Homeowners Insurance Coverage
      • Request Evidence of Insurance
    • Life
    • MotorcycleImage of right arrow
      • Add Driver to Existing Motorcycle Policy
      • Add Motorcycle to Existing Policy
      • Remove Driver from Existing Motorcycle Policy
      • Remove Motorcycle from Existing Policy
      • Request Declaration and Coverages Page for Motorcycle Policy
      • Request ID Card for Motorcycle Policy
    • Other
    • Recreational VehicleImage of right arrow
      • Add Driver to Existing Recreational Vehicle Policy
      • Add Recreational Vehicle to Existing Policy
      • Remove Driver from Existing Recreational Vehicle Policy
      • Remove Recreational Vehicle from Existing Policy
      • Request Declaration and Coverages Page for Recreational Vehicle Policy
      • Request ID Card for Recreational Vehicle Policy
    • Renters
    • Watercraft & BoatImage of right arrow
      • Add Watercraft to Existing Policy
      • Request Declaration and Coverages Page for Watercraft Policy
      • Request ID Card for Watercraft Policy
    • Windstorm
  • Blog
  • Make A Payment
  • Resources
    • Secure File Area
    • Refer a Friend
    • Important Links
    • Calculators
    • Free Reports
    • Insurance Glossary
    • News Center
  • About Us
    • About Parkway Insurance Group, Inc.
    • Location Map
    • Employee Directory
    • Customer Testimonials
    • Privacy Policy
    • Community Outreach
  • Contact
    • Contact Us
    • Join Our Newsletter
Postheader Auto Insurance Home Insurance Business Insurance Life & Health Insurance
Home > Blog > National vs Private Flood Insurance
WEDNESDAY, FEBRUARY 16, 2022

National vs Private Flood Insurance

Are you buying a home? Getting ready to move into a condo or apartment? Now’s the time to look into Flood Insurance coverage options. 

When it comes to Flood Insurance, there are two options for your provider: the National Flood Insurance Program and receiving coverage private coverage. You may be surprised to discover that most insurance agents can help you get either one. But there are some key differences between these two options that are worth paying attention to. 

How is My Premium Determined?
For the National Flood Insurance Program (NFIP), you can assume the majority of what goes into your premium is based on the location of your home in relation to the flood maps of your region. These maps rank areas as high, intermediate or low risk for floods. However, it is possible that a homeowner in an intermediate risk area will pay the same amount as a homeowner subject to the same level of risk in Delaware. This premium will be the same no matter what agent you purchase your coverage from.

With Private Insurance there are more nuanced methods of determining your premium. Many more factors will weigh on the cost to you, including geographic region, age of home and type of home. More factors can lead to better pricing for the consumer in many cases.

What Happens if a Flood Damages (Or Destroys) My Home?
Under the NFIP, there are caps on your payout. Those caps are standard nationally: $250,000 for the physical structure of the property and an additional $100,000 for the contents of the property. If the damage or cost to rebuild exceeds these numbers, the difference will have to be paid by you.

With private insurance you get what you pay for. You can always purchase coverage that will cover the full costs of rebuilding and repairing your property. In addition, unlike under the NFIP coverage, private insurance can cover the cost of relocating and living expenses while your home is being repaired or rebuilt. 

How Do I Know Which Coverage is Best for Me?
Your best resource for determining the coverage that is right for you is us! Your experienced agent would be more than happy to discuss your options for flood coverage. Together we can make sure you’re protected no matter what happens!
Posted 4:00 PM

Tags: flood, insurance
Share |


No Comments


Post a Comment
Required
Required (Not Displayed)
Required


All comments are moderated and stripped of HTML.

NOTICE: This blog and website are made available by the publisher for educational and informational purposes only. It is not be used as a substitute for competent insurance, legal, or tax advice from a licensed professional in your state. By using this blog site you understand that there is no broker client relationship between you and the blog and website publisher.
Blog Archive
  • 2022
  • 2017
  • 2016

  • insurance(68)
  • tips(29)
  • home(20)
  • auto(19)
  • safety(17)
  • life(16)
  • homeowner(11)
  • holiday(8)
  • car(7)
  • house(7)
  • homeowners(6)
  • flood(6)
  • rates(5)
  • family(4)
  • claims(4)
  • health(4)
  • business(3)
  • money(3)
  • long-term(3)
  • mistakes(3)
  • halloween(3)
  • new year(2)
  • disability(2)
  • commercial(2)
  • accident(2)
  • april(2)
  • thanksgiving(2)
  • claim(2)
  • save(2)
  • long-term care(2)
  • value(2)
  • dog(2)
  • funny(2)
  • women(1)
  • labor day(1)
  • permanent(1)
  • college(1)
  • financial(1)
  • retirement(1)
  • texas(1)
  • valentine(1)
  • traffic(1)
  • inventory(1)
  • refresher(1)
  • employee(1)
  • 4th of july(1)
  • school(1)
  • child(1)
  • teen(1)
  • student(1)

View Mobile Version
Fill out the form below or call/email us at
(281) 558-1991 | info@parkwayinsurancegroup.com


Who We Are >
We are a leading provider in insurance and services in the insurance industry. Priding ourselves on providing the best customer experience possible while also giving you the lowest rates. We have relationships with dozens of insurance companies, allowing you to get the right price with the right service.

Read More
Read Our Blog >
ASI Lloyd's
Progressive
Mercury
UPC Insurance
American General
Blue Cross Blue Shield
Universal American
Customer Testimonials >

Read More
 
  Who We Are
Insurance Carriers
Meet Our Staff
Customer Testimonials
  Auto Insurance
Life Insurance
Home Insurance
Health Insurance
Business Insurance
Other Insurance
  955 Dairy Ashford Rd. Ste 203 
Houston, Texas  77079
P: (281) 558-1991 | F: 281-558-1998
info@parkwayinsurancegroup.com
 
©Parkway Insurance, All Rights Reserved - Terms & Privacy Policy Powered by Insurance Website Builder