Environment Natural Disasters The 6 Best Flood Insurance Companies of 2023 Geico is our best overall pick for its helpful online quoting tool By Kiah Treece Kiah Treece University of Toledo College of Law University of Florida University of Miami Kia Treece is a writer, scientist, and sustainability coach specializing in environmental policy, off-grid living, zero waste, and vegan lifestyle. She holds a J.D. with a certificate in Environmental Law from the University of Toledo. Learn about our editorial process Updated March 25, 2023 Fact checked by Elizabeth Brownfield Fact checked by Elizabeth Brownfield University of Iowa Elizabeth Brownfield is a writer, editor, and researcher who specializes in food, travel, home, and lifestyle content. Learn about our fact checking process Share Twitter Pinterest Email Environment Planet Earth Climate Crisis Pollution Recycling & Waste Natural Disasters Transportation We independently evaluate all recommended products and services. If you click on links we provide, we may receive compensation. Learn more. Treehugger / Design by Amelia Manely Flooding can happen quickly and may cause extensive and expensive damage. Unfortunately, homeowners' policies don’t usually include flood coverage for structures or personal property, and flood policies are only required in certain high-risk areas. To make sure your home is protected in the case of a flood, it’s important to purchase separate flood insurance. To help you find a policy that’s right for you, we reviewed top flood insurance providers based on factors like coverage limits, available deductibles, waiting periods, and transparency. Many companies issue flood insurance through the National Flood Insurance Program (NFIP), meaning their policy limits, premiums, and other features are the same, regardless of the agency or underwriter. In those cases, we considered factors like customer support, quote tools, and bundling options. These are the best flood insurance companies that can help make sure you're prepared. Best Flood Insurance Companies of 2023 Best Overall: Geico Best Basic NFIP Coverage: The Flood Insurance Agency (TFIA) Best Coverage Flexibility: Neptune Flood Insurance Best for Low-Risk Zones: FloodSimple Best Policy Bundling: Allstate Best Emergency Support: Assurant Best Overall: Geico Geico Get a Quote Key Specs Type of Insurance: NFIP Online Quotes: Yes Notable Feature: User-friendly personal property calculator Why We Chose It Geico is our overall top pick because it offers comprehensive flood insurance through the NFIP and makes it easy to estimate your premium with its transparent online quote tool. Pros & Cons Pros Backed by FEMA Address locator for high-risk flood zones Provides helpful tips for homeowners to prevent flood damage Cons Online quotes unavailable for homes partially or fully over water 30-day waiting period for most NFIP policies Overview With a stellar rating from credit rating agency AM Best, Geico offers flood policies through the NFIP that are underwritten by several non-affiliated insurance companies, including Assurant, Chubb, and the Federal Emergency Management Agency (FEMA). Because policies are through the NFIP, premiums are set and aren’t dictated by Geico. Likewise, for standard policies, building coverage is limited to around $250,000 and contents are limited to roughly $100,000. That said, the company’s convenient online quoting tool, provided through Assurant, makes it easy to see how much you’re likely to pay for specific coverage limits. If you have a home that’s not located over water, you can see transparent premium information for a number of coverage amounts. However, if your home partially or entirely exists over water, you’ll have to call for a quote. If you don’t know how much personal property coverage you need, you can also use Geico’s personal property calculator to add up the value of any belongings you want to cover. The company also offers a helpful FAQs section to help you navigate any important questions and prevent flood damage at home. Best Basic NFIP Coverage: The Flood Insurance Agency (TFIA) The Flood Insurance Agency (TFIA) Get a Quote Key Specs Type of Insurance: NFIP and private insurance Online Quotes: Yes Notable Feature: Same-day insurance policies Why We Chose It We love TFIA because its same-day quotes and quick binding (meaning the coverage is in place) make it the most straightforward way to get FEMA’s NFIP flood insurance. Pros & Cons Pros Some policies backed by FEMARate lock option to maintain affordable pricesFast policy binding Cons Private policies are not offered in all 50 states30-day waiting period for most NFIP policies Overview The Flood Insurance Agency (TFIA) is an agency that connects property owners with policies through FEMA’s NFIP or the private market. Customers who opt for NFIP coverage can get same-day quotes and same-day policies in all 50 states. As with Geico and other NFIP providers, these coverage limits and premiums are set by the NFIP. For those who want a more flexible flood insurance option—or homeowners who want to purchase supplemental coverage in a private market—TFIA’s Private Market Flood products are available in 48 states. Policies are underwritten by Lexington Insurance and priced competitively—especially for older homes and businesses. These private policies offer the same coverage as the FEMA policy (and the same claims adjusters) but at a lower cost. Best Coverage Flexibility: Neptune Flood Insurance Neptune Flood Insurance Get a Quote Key Specs Type of Insurance: Private insurance Online Quotes: Yes Notable Feature: Flexible coverage and deductibles Why We Chose It Neptune Flood Insurance made our list because it offers much higher coverage limits and more flexible coverage options than some other carriers. Pros & Cons Pros Customers can insure more items than through NFIP policies Short 10-day waiting period Claims are resolved quickly Cons Not available in all 50 states Overview Founded in 2016, Neptune Flood Insurance is a data-driven flood insurance company that aims to provide affordable coverage through a network of more than 10,000 agents across the U.S. With flexible deductibles available from around $1,000 to $25,000, Neptune advertises that customers can save up to roughly 25 percent on their premium as compared to the cost of a similar NFIP policy. What’s more, Neptune Flood Insurance boasts more flexible coverage options that aren’t available through the NFIP, like for temporary living expenses, basement contents, pool repair and refill, and damage to detached structures. Coverage limits are also higher than those available with the NFIP, with up to roughly $2,000,000 in-building coverage and $500,000 for personal content. Plus, the waiting period is only 10 days—much shorter than the 30-day NFIP period and even less than Assurant’s 14-day period. You can report a claim through the company's site, but if you’re having trouble with it or have any other questions, you can submit a request through the website. Neptune Flood Insurance also makes it easy to report a claim via phone, email, or by contacting your local agent directly. An adjuster will contact you within two hours to provide a summary of the claim process, and many claims are resolved in as soon as 10 days. Best for Low-Risk Zones: FloodSimple FloodSimple Get a Quote Key Specs Type of Insurance: Private insurance Online Quotes: Yes Notable Feature: Elevation certificates are not required Why We Chose It We chose FloodSimple as the best option for low-risk zones because of the potential for savings over a standard FEMA policy. Pros & Cons Pros Lower price than FEMA insurance Available in all 50 states Example policies within 24 hours Cons Only covers homes in low-risk flood zones Overview Available in all 50 states, FloodSimple is an agency based in Denver that advertises roughly 30 percent to 50 percent savings compared to FEMA policies. This is accomplished by only offering coverage in lower-risk zones—rather than having to write policies on every property within a flood zone, as is the case with FEMA. FloodSimple truly simplifies flood insurance by providing homeowners with an easy-to-use online quote tool that does not require you to provide your phone number. Just enter basic information about your location, the size of your home, and how much coverage you want, and one of FloodSimple’s underwriters will email you a quote and an example policy within 24 hours (we received one in about 10 minutes). You can also compare a standard FloodSimple premium with the cost of a FEMA policy with similar coverage to see how much you’re likely to save. What’s more, FloodSimple doesn't require an elevation certificate—instead, the agency evaluates properties on a case-by-case basis using computer scoring and underwriter expertise. Best Policy Bundling: Allstate Allstate Get a Quote Key Specs Type of Insurance: NFIP Online Quotes: Yes Notable Feature: All insurance policies through one agent Why We Chose It Allstate made our list because it makes it easy to bundle policies while ensuring you have adequate flood coverage. Pros & Cons Pros Backed by FEMA Many types of discounts available Provides helpful flood safety tips for homeowners Cons 30-day waiting period for most NFIP policies Overview Allstate offers consumers access to NFIP policies that can supplement its Allstate homeowners policy. This means that you can keep all of your insurance with one agent and add on auto insurance or other coverage to take advantage of roughly a 25 percent multi-policy discount. Allstate customers can also take advantage of the company’s responsible payment, claim-free, home buyer, early signing, and loyalty discounts. Like other options on our list, Allstate offers an online quoting tool, but you’ll have to provide more personal information than some other carriers require. Depending on your location and the types of coverage you need, you may be directed to search for a local agent who can help you find a policy that meets your needs. That said, Allstate provides customers access to FEMA’s NFIP policies, so available coverage and premiums will be in-line with other NFIP options. Best Emergency Support: Assurant Assurant Get a Quote Key Specs Type of Insurance: NFIP and private insuranceOnline Quotes: NoNotable Feature: Fast policy approvals Why We Chose It Assurant excels because of its FlexCash add-on, which means you won’t have to worry about covering travel and hotel expenses while you wait for your claim to process. Pros & Cons Pros Add-ons for fast cash after floodsShort 14-day waiting period for private policies Easy application process Cons No online quote tool Overview Assurant provides private flood insurance to both homeowners and businesses and is one of the largest Write Your Own (WYO) companies for the NFIP—meaning it can write policies in its own name rather than through the NFIP. With more than 30 years of experience in the private flood market, Assurant offers high coverage limits, flexible policy add-ons, and easy-to-use quoting and claim management tools. What really stands out, though is Assurant’s FlexCash program, an add-on that can provide roughly $10,000 in discretionary cash before your claim is processed. The standard residential flood product includes offers up to about $800,000 in-building coverage, a maximum of approximately $250,000 in contents coverage, and available deductibles of about $1,250, $1,500, and $2,000. The waiting period is also just 14 days—half that of NFIP policies. Assurant does not have an online quote tool, but it’s easy to contact a representative via phone and email. The company has transparent eligibility criteria and can provide a decision in as little as four seconds; there are only 20 underwriting questions as compared to more than 60 for NFIP policies. Final Verdict Overall, we chose Geico as the best flood insurance because of its high rating, transparent online quoting tool, and personal property calculator. Not only does Geico make it easy to get an NFIP policy, but it also provides tools and resources that help clients better understand their flood insurance needs. Compare the Best Flood Insurance Companies Company Type of Insurance Online Quotes Notable Feature Best Overall: Geico NFIP Yes User-friendly personal property calculator Best Basic NFIP Coverage: The Flood Insurance Agency (TFIA) NFIP and private insurance Yes Same-day insurance policies Best Coverage Flexibility: Neptune Flood Insurance Private insurance Yes Flexible coverage and deductibles Best for Low-Risk Zones: FloodSimple Private insurance Yes Elevation certificates are not required Best Policy Bundling: Allstate NFIP Yes All insurance policies through one agent Best Emergency Support: Assurant NFIP and Private Insurance No Fast policy approvals Frequently Asked Questions What Is the Difference Between NFIP and Private Flood Insurance? NFIP flood insurance is a federal flood insurance program backed by FEMA, while private flood insurance is available through private companies. Private flood insurance can offer lower rates in low-risk flood areas and more coverage for items like personal disaster expenses. The NFIP can typically offer better rates for homes in high-risk flood areas. What Structures Are Not Covered by Flood Insurance? Flood insurance through the NFIP does not cover items like retaining walls, decks, pools, septic systems, fences, seawalls, landscaping, or additional living expenses after a flooding disaster. Private flood insurance can offer coverage for these items with additional costs. What Is the Highest Deductible for Flood Insurance? The highest deductible for most flood insurance policies is usually about $10,000, but deductibles may be much higher for private flood insurance through some companies. However, lower deductibles are common, ranging from about $1,000 to $5,000. Methodology When evaluating flood insurance companies, we looked at maximum coverage limits, deductibles, and whether add-ons are available. We also compared the waiting periods imposed by each company before binding coverage as well as whether each offers features like quote tools and personal property calculators. Lastly, we considered each company’s ratings for customer satisfaction and support options. Newsletter Sign Up Newsletter Sign Up Newsletter Sign Up By clicking “Accept All Cookies”, you agree to the storing of cookies on your device to enhance site navigation, analyze site usage, and assist in our marketing efforts. Cookies Settings Accept All Cookies